Cyfrowy Polsat S.A. Capital Group
Interim Consolidated Report for the six month period ended June 30, 2022
Warsaw, August 17, 2022
Table of Contents
Management Board's representations
Independent auditor's review report on the interim condensed consolidated financial statements for the six month period ended June 30, 2022
Interim condensed consolidated financial statements for the six months ended June 30, 2022
Independent auditor's review report on the interim condensed financial statements for the six month period ended June 30, 2022
Interim condensed financial statements for the six months ended June 30, 2022
Report of the Management Board on the activities
of Cyfrowy Polsat S.A. Capital Group for the six month period ended June 30, 2022
Warsaw, August 17, 2022
Report of the Management Board | 2 |
on the activities of Cyfrowy Polsat S.A. Capital Group for the six month period ended June 30, 2022
Table of contents
Polsat Plus Group at a glance | 4 |
Our mission and main strategic goals | 5 |
Disclaimers | 6 |
Financial data overview | 7 |
1. | Characteristics of Polsat Plus Group | 10 | |
1.1. | Who we are | 10 | |
1.2. Composition and structure of Polsat Plus Group | 11 | ||
1.3. | Shareholders with qualifying holdings of shares of Cyfrowy Polsat | 17 |
1.4. Shares of Cyfrowy Polsat held by Members of the Management Board and
the Supervisory Board | 19 | |||
2. | Significant investments, agreements and events | 20 | ||
2.1. | Corporate events | 20 | ||
2.2. | Business related events | 23 | ||
2.3. Events after the balance sheet date | 25 | |||
3. | Operating and financial review of Polsat Plus Group | 26 | ||
3.1. Operating review of the Group | 26 | |||
3.1.1. B2C and B2B services segment | 27 | |||
3.1.2. Media segment: television and online | 29 | |||
3.2. Review of the Group's financial situation | 34 | |||
3.2.1. | Income statement analysis | 34 | ||
3.2.2. | Operating segments | 41 | ||
3.2.3. | Balance sheet analysis | 43 | ||
3.2.4. | Cash flow analysis | 47 | ||
3.2.5. Liquidity and capital resources | 48 | |||
3.2.6. Information on guarantees granted by the Company or subsidiaries | 50 | |||
4. | Other significant information | 53 | ||
4.1. | Transactions concluded with related parties on conditions other than market | |||
conditions | 53 | |||
4.2. Discussion of the difference of the Company's results to published forecasts | 53 | |||
4.3. Material proceedings at the court, arbitration body or public authorities | 53 | |||
4.4. Factors that may impact our operating activities and financial results | 56 | |||
4.4.1. Factors related to social-economic environment | 56 | |||
4.4.2. Factors related to the operations of the Group | 62 | |||
4.4.3. Factors related to the regulatory environment | 66 | |||
4.4.4. | Financial factors | 68 | ||
5. | Risk factors | 69 | ||
5.1. Risk factors related to our business and the sector in which we operate | 69 | |||
5.2. Risk factors associated with the Group's financial profile | 82 | |||
5.3. Risk factors associated with the market environment and economic situation | 84 |
Report of the Management Board | 3 |
on the activities of Cyfrowy Polsat S.A. Capital Group | |
for the six month period ended June 30, 2022 | |
5.4. Factors relating to market risks | 88 |
5.5. Risk factors associated with the legal and regulatory environment | 90 |
5.6. Risk factors associated with the Series B and C Bonds | 97 |
5.7. Risk factors associated with climate | 97 |
Glossary | 98 |
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Cyfrowy Polsat SA published this content on 17 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 August 2022 19:13:03 UTC.