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Poland's Cyfrowy aims to cut net debt/EBITDA ratio to 1.75
May 11, 2017 / 10:33 AM / 4 months ago

Poland's Cyfrowy aims to cut net debt/EBITDA ratio to 1.75

WARSAW, May 11 (Reuters) - Poland’s biggest media group Cyfrowy Polsat SA plans to reduce its net debt to EBITDA ratio to 1.75 from 2.88 currently, the company’s Chief Executive Tobias Solorz said on Thursday.

“We want to reduce the debt ratio to 1.75,” he told a news conference. “As soon as possible,” he also said when asked about the time frame.

Earlier on Thursday Cyfrowy posted a bigger than expected 279 million zlotys net profit for the first quarter. Shares in Cyfrowy rose by over 7 percent to 26.83 zlotys. (Reporting by Marcin Goettig; Writing by Agnieszka Barteczko)

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