TVN expects strong growth on back of economic progress

Polish broadcaster TVN has said it expects strong revenue and earnings growth for the next three years on the basis of solid macroeconomic data from the Polish market.

TVN said that it expects consolidated adjusted EBITDA growth of about PLN520 million (€123 million) this year, rising to PLN590 million next year and PLN630 million in 2016. Full year consolidated revenue is expected to grow by a low single-digit figure this year, with growth of between 5% and 9% expected 2015 and 2016.

The broadcaster said it expected Polish GDP to grow by between 3% and 3.5% for the 2014-16 period, with the TV advertising market consequently showing growth in the low to mid single digits over the same period. TVN said it also expected the online TV advertising market to see high single-digit growth rates over the period.

TVN said it did not expect any significant new capital market transactions over the period.