Profil:
Cyfrowy Polsat SACyfrowy Polsat wants to allocate entire net profit for 2024 to reserve capital
Listed TMT group Cyfrowy Polsat wants to allocate the entire net profit for 2024 in the amount of PLN 405.84 million (EUR 95.7 mln) to reserve capital, the company said in a market filing.
The filing indicated that in making the above decision, the company's management board considered the level of the company's net debt to LTM EBITDA ratio (excluding project financing), which in the last reported period exceeded the level of 3.5x, allowing the payment of dividends.
"The elevated level of the net debt to EBITDA ratio is due to the persistently high-interest rates throughout 2024 and, as a result, high debt service costs and inflationary pressures. In parallel, the company is consistently making strategic investments in the area of renewables as part of Strategy 2023+, aimed at continuing the development of the company's group over the long term in line with the overarching strategic objective of sustainably increasing the company's value for its shareholders," the filing said.
mcb/ nl/
