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Warsaw, 05/12/2016 (ISBnews) – Cyfrowy Polsat aims to generate 1.2-1.4 billion zł free cash flow (FCF) this year, which gives the potential for a return to regular dividends, said a member of the management board. financial Tomasz Penny.
“Return to regular dividend payments is the most important goal, and one of the conditions is to generate 1.2-1.4 billion zł free cash flow,” – said Szeląg during a press conference.
maintained the “strong determination to glide debt “in subsequent periods. The current net debt / LTM EBITDA is 3,34x (3.33x on a pro forma basis). “We believe that we are able to reconcile the repayment of debt and payment of dividends for 2016 already secured the total level ratio below 3.2x, which is a condition of the agreements with creditors,” – said a board member of Cyfrowy Polsat.
In his view, the very good group results for the first quarter. leave no doubt that the acquisition of Midas “perfect” complement the activities of Cyfrowy Polsat.
“Stable revenue growth and cost control resulted in high operating result and EBITDA margin. Still a strong position in our balance sheet are the free cash flow – their 12-month value amounted to over 1.3 billion zł, although in the last quarter still served the Polkomtel expensive bonds. we paid down loans and Midas Group has repurchased the majority of zero-coupon bonds issued by Midas and our constant goal for the remainder of the year is to continue regular debt reduction Group “- summed up Szeląg.
Cyfrowy Polsat and Polkomtel form an integrated group of media and telecommunications controlled by Zygmunt Solorz-Zak. Midas also belongs to the group of telecommunications Solorz-Zak. The group also includes, among others, Centernet company, Mobyland and Aero2.
(ISBnews)
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