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Another quarter of solid financial results Netia

Netia announced financial results for the first quarter of 2016. The company maintained its revenues at a similar level compared to the same period last year. Despite strong competitive pressure profitability remains stable. The financial position of the Netia Group is strong. The company starts an investment program that will allow for the modernization of the entire access network.

Netia's revenues during the three months of 2016 amounted to 390 494 thousand zł. This means maintaining the level of a year ago and a decrease of 3 percent compared to the previous quarter.

Adjusted EBITDA amounted to 111 million zł for the first quarter of 2016 naintaining the level of the previous quarter and a decline of 2.2 percent compared with the same period of 2015. EBITDA amounted to 107 million zł for 3 months of 2016 (Increase of 5 percent compared to the previous quarter and a decline of 3.9 percent compared year to year).

Netia has achieved positive cash flows at the operational level (OpFCF) in the first quarter of 2016 - OpFCF was 73 million zł. This means 33 percent growth compared to the previous quarter and 8 percent year-on-year.

Netia Group maintains a strong financial position of the lever at a comfortable level below 0.5x adjusted EBITDA for 2015 in the amount of 457 million zł.

About Netia:

Netia is one of the biggest and fastest growing telecommunication providers in Poland. It delivers comprehensive, integrated and user-friendly on-line solutions.

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