Warsaw (Puls Biznesu) – TVN, Polish listed media group, had PLN 190.4 m (EUR 48.7 m) of net income last year, nearly double the amount achieved in 2003. In the fourth quarter only, TVN’s net income amounted to PLN 90.8 m. Strong zloty let TVN earn PLN 75 m. Sales grew, too, to PLN 717.1 m, or 22 percent. Commercial income grew by 17 percent while the rest of the market increased only 7 percent.
‘This year was unusual. I would not like to be bound with any forecasts for this year’, Piotr Walter, TVN CEO said. TVN is going to hedge itself against exchange rate risk at EUR 83 m. Sales should grow around 13 percent.
(PLN 1 = EUR 0.256)Poland/Enterprises/Media