Orange Polska S.a. · GPW:OPL
Orange Polska — Q1 2026 Earnings Presentation
20 slides from Orange Polska's earnings presentation, Apr 23, 2026
Slide 1: Orange Polska 1Q 2026 results
Orange Polska 23 April 2026 1Q 2026 results Lead the Future 1
Slide 2: Forward looking statement
Forward looking statement This presentation contains 'forward-looking statements' including, but not limited to, statements regarding anticipated future events and financial performance with respect to our operations. Forward-looking statements can be identified by the fact that they do not relate s
Slide 3: Highlights & Business review
Highlights & Business review Liudmila Climoc Chief Executive Officer 3
Slide 4: 1Q'26: Excellent start to the year
1Q’26: Excellent start to the year Strong net customer additions and consistent ARPO growth, coupled with price increases to support future value Positive business momentum in wholesale: +6% yoy revenue in 1Q and solid pipeline for 2Q Outstanding financial results marking a strong start to the year:
Slide 5: Solid growth of customer bases and ARPO across all key services
GROW profitably Solid growth of customer bases and ARPO across all key services #1 in MNP** PLN Convergence ARPO PLN Fixed broadband-only ARPO PLN Mobile-only handset ARPO 132.3 +4.2% yoy 71.0 +3.7% yoy 30.0 +0.9%* yoy Solid net customer additions Consistent fibre customer base Strong momentum in mo
Slide 6: Financial review
Financial review Jacek Kunicki Chief Financial Officer 6
Slide 7: Excellent 1Q'26 financial results
VALUE creation Excellent 1Q’26 financial results in PLNm 1Q’26 yoy ▪ Consistent performance of core telco services (+5% yoy) revenues 3,183 +2.9%* and wholesale (excl. legacy) (+6% yoy) EBITDAaL 913 +9.5%* ▪ Strong growth driven by high direct margin & cost savings ▪ +6.1% yoy underlying growth** re
Slide 8: 1Q revenue growth due to +5% core telecom services and +6% wholesale
1Q revenue growth due to Revenue evolution (yoy change in %) +5% core telecom services 9.3% 7.3% 6.8% 5.5% and +6% wholesale 4.8% 1.1% 6.5% 2.9% 2.3% 4.6% 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 Total reported Core telecom services* Revenue evolution breakdown 1▪ Core telecom services* (+4.8% yoy) in PLNm ▪ U
Slide 9: 1Q EBITDAaL +9.5% yoy, an outstanding start of 2026
1Q EBITDAaL +9.5% yoy, an EBITDAaL evolution (yoy change in %) outstanding start of 2026 9.5% 6.2% 4.3% 2.9% 2.9% 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 1▪ EBITDAaL +9.5% yoy: ▪ +6.1% yoy underlying growth due to healthy business trends EBITDAaL evolution breakdown ▪ coupled with PLN 28m of non-recurring (yo
Slide 10: Summary
Summary Liudmila Climoc Chief Executive Officer 10
Slide 11: Summary
Summary Excellent commercial and financial start of the year giving high confidence on achieving strong full-year results Positive developments in key areas (commercial & cost transformation) supporting further growth despite a volatile environment 11 11
Slide 12: Q&A
Q&A 12 12
Slide 13: Appendix
Appendix 13
Slide 14: 2026 guidance fully confirmed
GROW 2026 guidance fully confirmed ENHANCE profitably network EMPOWER VALUE creation people TRANSFORM & innovate 2026 guidance Revenues yoy low single digit growth* EBITDAaL yoy +3-5%* eCAPEX (PLN) around 1.8bn Organic cash flow (PLN) at least 1.1bn *Growth calculated on comparable basis (cb) follow
Slide 15: 1Q Organic Cash Flow and balance sheet
1Q Organic Cash Flow Cash flow evolution breakdown in 1Q 2026 in PLNm and balance sheet yoy change +79 -70 +78 +89 -1 +175 +330 +505 OCF reflects: ▪ EBITDAaL growth 916 -178 ▪ Strong proceeds from sale of real estate -592 ▪ Higher working capital (inventory +95 -155 86 62 -24 restocking) & payments
Slide 16: Reconciliation of operating performance measure
Reconciliation of operating performance measure Disclosures on performance measures have been presented in the Note 2 to Condensed IFRS Quarterly Consolidated Financial Statements of the Orange Polska Group for the 3 months ended 31 March 2026 (available at https://www.orange-ir.pl/results-center/).
Slide 17: Details of bottom line evolution in 1Q'26
Details of bottom line evolution in 1Q’26 in PLNm 1Q 2026 1Q 2025 Change EBITDAaL 913 834* +79 Gains on disposal of assets 50 4 +46 D&A of PPE and intangible assets -535 -520 -15 Share of loss of joint venture adjusted for elimination of margin earned -32 -30 -2 on asset related transactions with jo
Slide 18: Details of organic cash flow evolution in 1Q'26
Details of organic cash flow evolution in 1Q’26 in PLNm 1Q 2026 1Q 2025 Change Net cash flow from operating activities before change in 916 837 +79 working capital Change in working capital* -178 -108 -70 Net cash flow from operating activities 738 729 +9 CAPEX -389 -441 +52 Change in CAPEX payables
Slide 19: Glossary (1/2)
Glossary (1/2) 5G Fifth generation of mobile technology, which is the successor to the 4G mobile network standard ARPO Average Revenue per Offer The number of customers who disconnect from a network divided by the weighted average number of Churn rate customers in a given period Revenues from B2C co
Slide 20: Glossary (2/2)
Glossary (2/2) Fixed broadband-only Revenues from fixed broadband offers (excluding B2C convergent offers and equipment sales) services including TV and VoIP services HHC (Households connectable) in fibre Households where broadband access service based on fibre technology can be rendered technology