2009  2010 9M 2011
Revenues (PLN'm)  1506 15691 192 
Adjusted EBITDA (PLN'm) 304 359300 
Adjusted EBITDA margin (%)1 20% 23%25% 
EBITDA (PLN'm) 313 586293 
EBIT (PLN'm) 14 28666 
Capital investments (excl. M&A) (PLN'm) 246 200164 
Broadband subscribers (k) 559 690732 
Fixed voice subscribers  (k) 1158 12181 191 


1 EBITDA for 2009 excluding the one-off restructuring expenses related to the cost reduction program (the "Profit" project), a gain on the sale of the first tranche of P4 transmission assets and the positive accounting impact from the settlement agreement with TP. Additionally, EBITDA for 2010 excludes non-cash gain on reversal of earlier impairment charges, gain on disposal of the second and the third tranche of transmission equipment to P4, costs related to M&A activities and costs related to the "Profit" project. EBITDA for 9M 2011 excludes provision for universal service obligation payment, costs related to M&A activities and restructuring costs.