Updated Netia guidance for FY 2013 (34/2013)
While Management notes solid progress in B2B, TV and on-net broadband RGUs in B2C in line with key strategic priorities for 2013, this progress is coming through more slowly than originally planned while losses of voice services, particularly over regulated access, are continuing at a faster pace than was previously expected.
As a result, Management is today revising down its full year RGU and revenue guidance to 2,525 RGUs and PLN 1,900m, respectively.
However, cost control, lower customer acquisitions related spending and capital investment savings allow for increasing both Adjusted EBITDA and Adjusted operating free cash flow performance by PLN 25m to PLN 550m and PLN 325m, respectively, and Adjusted EBIT guidance by PLN 35m to PLN 100m.
The new guidance reflects the current year impact of capital investments necessary to integrate cable TV networks in Warsaw in Kraków.
Detailed guidance is attached in a schedule below.