The Management Board of Netia SA (hereinafter the “Company” or “Netia”) informs that it is revising Netia’s 2014 guidance as published previously on February 20, 2014 (see Netia’s current report no. 7/2014
dated February 20, 2014).
The update is being made to reflect weaker than expected sales momentum in H1 2014. Although revenue guidance is being reduced from PLN 1,735m to PLN 1,675m, Management is targeting improving trends in H2 2014 from new sales initiatives that have already launched in the market. A short- and medium-term cost reduction initiative, Netia Lite, has gone into implementation and allows confirmation of the Adjusted EBITDA target at PLN 505m for 2014. Additional capital investment to support improved sales in H2 2014 results in increased capital investment guidance from PLN 200m to PLN 215m.
Full updated guidance for 2014 is set out in an attachment below.