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Polish broadcaster TVN reports strong fourth-quarter results

2008-02-18

Listed Polish broadcaster TVN turned in a strong fourth-quarter performance on Monday, buoyed by rising advertising sales in Poland's booming economy. Revenue in the last quarter of 2007 rose 29% to 522 million zloties (€147 million), ahead of analysts' expectations.

Revenue for all of 2007 rose by a third to 1.55 billion zloties, TVN said in a statement on Feb. 18. Operating profit increased by 38% to 482 million zloties, while TVN's operating margin was 31%. Adjusted profit increased 42% to 330 million zloties.

TVN (www.tvn.pl), a part of the media and entertainment group ITI Holdings SA, is riding the results of a fast-expanding television advertising market which rose 22% in 2007.

TVN said it expects its sales to rise 18-20% this year, and its EBITDA margin will be around 35-337% compares with 36% in 2007.

TVN owns 14 TV stations and web portal Onet.pl.

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