Telefonia Dialog management has presented its new strategy which provides for PLN 1.2bn (EUR 314.4m) of investment within seven years.
“These should increase the value of our company owned by KGHM. In 2015, Dialog should be worth PLN 1.2bn”, Piotr Mazurkiewicz, the company CEO said.
Four months ago, he had planned to increase the value to PLN 2.4bn, the amount KGHM had invested in the company. However, today, Dialog is worth PLN 600m. The company wants to raise PLN 150m in selling 25 percent of newly issued shares in the second half of 2009.
This is very risky. This year, the company will have a net loss (management explain it is with extraordinary events). Nevertheless, it wants to invest PLN 905m within three years, three times more than it used to. This means that the company will lack PLN 321m. Half of this amount should be raised in a credit, the other half – in the IPO which has been delayed many times already.
“We shift it till March 2010 but it won’t disturb our strategy”, Tomasz Szelag, deputy CEO of the company explained.
This year, the company plans PLN 90m of EBITDA against PLN 547m of sales. In 2015, EBITDA should amount to PLN 263m against PLN 901m of sales.
Dialog wants to build modern optic fiber infrastructure with access to every client (PLN 420m of investments). The company will offer internet as well as IPTV in HD to its clients. The company plans to implement MVNO in the middle of next year. It also wants to cooperate with internet service provides to increase its offer.
(PLN 1 = EUR 0.262)