Play Capital Group in the second quarter of 2024 generated PLN 2.51 billion in revenue, which, compared to PLN 2.42 billion a year earlier, represents an increase of 4%. Revenues from services increased: in the case of mobile services, by 9.1%. up to PLN 1.25 billion, and from fixed and home use – by 5%. up to PLN 510 million.
On the other hand, customers spent slightly less on devices with the operator: quarterly revenues in this area decreased by 3.6% year-on-year to PLN 455 million. However, revenues from interconnections and wholesale, M2M and B2B services decreased by 4.8%. to PLN 301 million, which is a result, among other things, of the reduction at the beginning of this year of regulated tariffs for network call termination.
Play with over 13 million mobile customers
Play Group is increasingly earning money from its services because it is gaining customers in all major categories, and they are increasingly paying more. At the end of June, telecommunications had 13.3 million mobile service users, up 3 percent over a year ago. In the subscription segment, there was an increase of 3.8 percent y/y to 9.5 million, and in the prepaid segment – by 1.2 percent. to 3.8 million. Both groups of customers also increased slightly in the second quarter of this year: subscribers from 9.443 to 9.505 million, and prepaid users – from 3.729 to 3.796 million.
The average monthly revenue of a mobile services customer in the last quarter reached PLN 31.4. This is 6.1 percent. more than a year earlier.
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In turn, the number of fixed service customers (including users of the offers of the UPC Polska network acquired by Play in spring 2022) increased by 8.8% year-on-year to 11.91 million.
At the EBITDAaL level, the Play group’s quarterly profit increased by 18.6 percent to PLN 1.05 billion, and the margin – from 36.6 to 41.7 percent. – This increase resulted from better operating revenues (increased revenues from mobile services, fixed services and home services, totaling PLN 239 million) and slightly lower energy costs, which were partially offset by the entry into force on April 1, 2023 of the service provision agreement (MSA agreement with Polski Światłowód Otwarty (PŚO) – stated in the company’s press release.
The Polish Open Fiber network is based on the infrastructure of UPC Polska, which the Play Group contributed to the company, and for the sale of 50% of its shares to the private equity fund InfraVia Capital Partners received PLN 1.77 billion. The transaction was finalized last spring.
Meanwhile, Play Group’s capital expenditure in the last quarter amounted to PLN 313 million, up 16% from less than a year earlier. At the end of June this year, the operator had 11,907 base stations, after an annual increase of 8.8%. More than 68% of the telecommunications 5G network was already within reach. inhabitants of the country.
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Over the first half of this year with revenue growth of 4.5% y/y to PLN 5.01 billion, Play Group’s operating expenses increased at a much slower pace – 3.8%. up to PLN 4.09 billion, mainly as a result of an increase in settlement costs for interconnection, roaming and other service costs from PLN 1.01 to PLN 1.14 billion, personnel expenses from PLN 280.61 to PLN 316.89 million and costs defined as other from PLN 637, PLN 95 to PLN 911.08 million.
Telekom, on the other hand, reduced external services costs from PLN 752.99 to PLN 723.39 million, mainly due to a decrease in the category classified as others. Fthe company kept marketing expenses under control, which decreased slightly – from PLN 97.05 to PLN 96.74 million.
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Game profit has increased significantly
At the operating level, the Play Group’s half-year profit increased from PLN 1.25 to PLN 1.51 billion. Net profit increased further – from PLN 433.03 to PLN 757.61 million, among others. thanks to a decrease in financial expenses (mainly for debt servicing) from PLN 646.39 to PLN 573.99 million and the amount of income tax paid from PLN 236.65 to PLN 202.12 million.
– The results of the Play Group in the first half of 2024 confirm that we have successfully transformed ourselves into a fully converged operator with a comprehensive offer. The driving force behind the development of our business is customer trust. We invest heavily in our infrastructure and provide customers with freedom of choice at an attractive price – emphasizes Jean Marc Harion, Head of the Play Group, in the press release.
