Cyfrowy Polsat's employee costs are increasing: In the third quarter of 2024 reached PLN 290.1 million. That's 6.8 percent. more than a year ago. Interestingly, these costs grew even faster in the first three quarters of this year, by 8.3%. They amounted to PLN 890.5 million.
Where does this growth come from? Zygmunt Solorz's holding states that employee costs are increasing mainly due to “inflationary pressure on labor” and an increase in employment. Number of non-productive permanent employees of the holding company increased from 8,112 to 8,194 year-on-year. This is an increase of 82 positions, or approximately 1%. The biggest impact on this was made by Polkomtel and Netia, where employment increased by 45 and 30 employees respectively.
Employee costs are not the holding's biggest expenses: Cyfrowy Polsat spends more in the third quarter, among others: on technical issues and interconnection settlements (PLN 869.7 million), content (PLN 415.1 million), own expenses related to devices sold (PLN 365.4 million) and for depreciation, impairment and liquidation (PLN 303.2 million).
Employment is falling: Meanwhile, the latest data from the Central Statistical Office show that employment in Polish industry is generally decreasing. Average employment in companies employing 10 or more people it was at the level of 6 million 462 thousand 700 full-time jobs. This meant a decrease of 0.5%. compared to last November. Salaries in companies were on average PLN 8,478.26 gross.
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Sources: IAR, Virtual Media