Report
Piotr Raciborski, CFA

WOOD Flash – Polish telecoms: Play increases pre-paid prices by 31-56% from January 2023

Last week, Play, Iliad’s Polish mobile subsidiary, announced pre-paid service prices hikes of 31-56%. We see this as positive news, supportive for repairing the Polish mobile market, as we believe that price increases are the only reasonable way for the Polish telecoms to defend their profitability in the face of the current inflationary pressure. We also see it as positive, as Play’s strategy in the Polish market, following its acquisition by Iliad (which used to be aggressive in the Western markets) was uncertain and one of the biggest threats to the Polish mobile segment’s competitive environment, in our view.
Underlyings
Cyfrowy Polsat SA

Orange Polska S.A.

Orange Polska SA is a supplier of telecommunications services in Poland. Co. provides services, including fixed-line telecommunication services, Integrated Services Digital Network, voice mail, dial-up and fixed access to the Internet and Voice over Internet Protocol. Co. is one of Poland's three DCS 1800 and GSM 900 mobile telecommunications providers. Co. provides also third generation UMTS services. In addition, Co. provides leased lines, radio-communications and other telecommunications value added services, sells telecommunications equipment, produces electronic phone cards and provides data transmission, telephone directories, multimedia services and various Internet services.

Provider
Wood and Company
Wood and Company

WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.

A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.

Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.

We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.

Analysts
Piotr Raciborski, CFA

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