TVN reports losses despite positive operational results

Despite adding post-paid pay-TV customers and seeing ad revenues increase during the second quarter, Polish broadcaster TVN posted a net loss of PLN98m (€24m) compared with a net profit of PLN149m a year earlier, a result of foreign exchange losses. Operational results were more positive, however.

TVN’s DTH platform ‘n’ added 6,000 post-paid subscribers during the second quarter of the year, a 32% year-on-year growth. However, its TNK pre-pay service lost 28,000 subs during the quarter, something the operator attributed to “extraordinary events available in the free-to-air channels, discouraging recharges for pay-TV”. The operator ended June with 279,000 pre-pay customers. 

TVN said pay-TV revenue increased by PLN42m, or 38%, year-on-year to €151m during the quarter. Total EBITDA was up PLN37m to PLN227m.

TVN said its free-to-air business had benefited from Poland’s growing TV ad market, which it estimates to have increased by 8% year on-year. Revenue was up by PLN23m, or 5%, year-on-year to PLN443m. “We attribute the increased advertising revenue to the continuing economic recovery, which coupled with our market leading position led to high sell-out ratios at increased prices,” the company said.