Tuesday, September 7th, 2010
Today's weather     
TVN publishes Q4 results

18th February 2010
Bookmark and Share

The Polish broadcaster's profits greatly exceed market forecasts


Grupa TVN, Poland's only listed television broadcaster, has announced a zł.242.7 million net profit for Q4 2009, almost tripling its Q3 result.

Analysts had predicted a profit of around zł.80.1 million.

The broadcaster explained, however, that because it had taken control of ITI Neovision, the owner and operator of the "n" digital platform, the results of the fourth quarter of 2009 were not fully comparable y/y.

“Our results for the three months ending December 31, 2009, included all of ITI Neovision's financial results for the period from October 1, 2009, to December 31, 2009. Results for the corresponding period of 2008 include our share of ITI Neovision's net loss for the period from October 1, 2008, to December 31, 2008," the company said in a statement.

“In 2009, we successfully executed our strategic plan and strengthened our position as the largest
integrated multimedia group in Poland,” Markus Tellenbach, president of TVN's board, was quoted as saying.

Sales rose 15 percent to zł.680.4 million, aided by zł.129.9 million in revenues from “n.” (RG)


From Warsaw Business Journal


Advertisement
Poland in the EU
Something smells here...
BY Christoph Klenner
Ample media attention is given these days to the envisaged gas deal between Poland and Russia's state-owned gas giant Gazprom, ... READ MORE
From the editor
The complexities of Poland's cultural conflict
BY Andrew Kureth
To hear the international media tell it, Poland's current row over the wooden cross in front of the Presidential Palace ... READ MORE
Our partners