November 9, 2017 / 6:01 AM / 2 years ago

Poland's Cyfrowy Polsat Q3 net profit falls 13 pct, misses forecast

Nov 9 (Reuters) - Cyfrowy Polsat, Poland’s largest media group, reported a 13 percent drop in third-quarter net profit on Thursday, falling short of analysts’ estimates, dragged down by a higher comparison base following a boost from the European Football Championships in 2016.

Net profit came in at 242.9 million zlotys ($66.50 million), below 249 million zlotys expected by analysts in a Reuters poll.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) also fell year-on-year to 851.1 million zlotys, compared with 856 million zlotys expected by analysts.

Both EBITDA and net profit of the group, controlled by billionaire businessman Zygmunt Solorz-Zak, suffered from the new EU roaming regulations and the lack of the multi-channel monetization of sports rights to a major football tournament in 2017.

$1 = 3.6526 zlotys Reporting by Pawel Goraj; Editing by Sherry Jacob-Phillips

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