Revised Netia guidance for FY 2009 (40/2009)
The Management Board of Netia SA (hereinafter the “Company” or “Netia”), following an analysis of the Company’s financial results for the second quarter and the first half of the financial year 2009, hereby announces revised guidance for the 2009 financial year.
The Management now expects a higher voice subscriber base, improved margins and increased EBITDA at the end of the 2009 financial year in relation to the previous guidance announced by the Company (see Netia’s current report No 28/2009 dated 6 April 2009). Additionally, in the light of the more difficult trading conditions in first half of the 2009 financial year and the impact of the sale of a part of the transmission network to P4 (see Netia’s current report No. 37/2009 dated 24 July 2009), Netia now expects lower revenues and a lower broadband subscriber base compared to its previous guidance.
The following table presents the Company’s current estimates of all the elements of the 2009 guidance in comparison to the guidance published previously (see Netia’s current report No. 28/2009 dated 6 April 2009):
|Number of broadband service clients |
(excluding Ethernet acquisitions)
|Number of voice service clients (own network and WLR)|
|Unbundled local loop (LLU) nodes|
|Revenue (PLN million)|
|Adjusted EBITDA 1 (PLN million)|
|EBITDA (PLN million)|
|Investment outlays (excluding M&A) (PLN million)|
1 Adjusted EBITDA excludes one-off restructuring costs related to the cost reduction program of PLN 15million
Subscriber guidance does not include potential Ethernet network acquisitions, which remain important to Netia’s strategy, but are difficult to forecast in terms of timing and scale.
Netia announces that it will continue to monitor the possibilities of achieving the forecast results on a quarterly basis. The achievement of the forecast results will be assessed, and any necessary adjustments introduced, after the end of a given quarter of the financial year based on an analysis of sales revenues, investment expenditure, numbers of customers and any other factors it may consider relevant.
None of the information contained in this press release is a recommendation to purchase or sell financial instruments within the meaning of the Regulation of the Minister of Finance on information constituting recommendations regarding financial instruments or their issuers, dated 19 October 2005 (Polish Journal of Laws (Dz. U.) of 2005, No. 206, item 1715). For a more detailed description of the risks involved in investing in Netia’s securities, please see Netia’s 2007 annual financial report. Subject to the obligations referred to herein, Netia is not required to publicly update or revise any of its forecasts and assumptions of the strategic objectives.
§5 section 1.25 of the Regulation of the Council of Ministers dated 19 February 2009 on current and periodical information disclosed by issuers of securities and conditions for recognizing as equivalent information required by the laws of a non-member state (Journal of Laws of 2009, No. 33, item 259).