Updated Netia guidance for FY 2013, medium-term Strategic Financial Goals under review (45/2013)
Having observed a significant slowdown in RGU losses from 46k in Q2 2013 to 32k in Q3 2013, together with TV service net additions running at 10k in Q3 2013 and on-net broadband registering positive net additions during Q3 2013, Management is making minor modifications to its guidance for 2013. The full year net ending RGU guidance is being revised upwards to 2,540k from 2,525k. Revenue guidance is being revised down to PLN 1,875m from PLN 1,900m and Adjusted EBIT guidance is being revised up to PLN 110m. Adjusted EBITDA, Adjusted operating free cash flow and capex guidance remain unchanged at PLN 550m, PLN 325m and PLN 225m, respectively.
Observing positive momentum on TV and NGA investments while off-net services continue to decline, Management has concluded that it must accelerate investment in 2014 and the medium-term in order to stabilise the Netia Group’s financial results in the B2C segment.
The Group’s published medium-term strategic financial objectives are therefore under review pending the conclusion of on-going planning activities for 2014 and the medium-term and Management currently expects to be able to update these objectives by the time of publishing Q4 2013 results, early in 2014.
The detailed 2013 guidance is presented in an attachment below.