August 29, 2019 / 12:10 PM / 20 days ago

Poland's Cyfrowy Polsat may lower free cash flow estimate in Q3

Aug 29 (Reuters) - Cyfrowy Polsat said on Thursday additional smart phone purchases could lead the Polish media and telecommunications group to lower its free cash flow forecast to the lower end of an earlier announced range.

“We will see in the third quarter what the free cash flow might look like till the end of the year since we might stock up a bit in the autumn,” board member Katarzyna Ostap-Tomann said.

“Perhaps in the third quarter we might be talking about an amount of around 1.3 billion (zlotys),” she said.

In March, Cyfrowy Polsat said it expected its adjusted free cash flow in a range of 1.3 billion zlotys ($331 million) to 1.5 billion zlotys. ($1 = 3.9258 zlotys) (Reporting by Alicja Ptak in Warsaw, writing by Gdynia Newsroom, eding by Pritha Sarkar)

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