Polkomtel RR 2004--

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Dear Sirs
e would like to present the outcome
of the operations of our Company in
2004. It was a challenging year, in
which, as never before, we felt the
burden of more and more intense
competition on the mobile telephony market.
Polkomtel S.A. consistently worked to accomplish
the adopted strategic goals, while strengthening
its market assets. The Polish mobile telephony market is still at the phase of fast growth and strong
competition among the operators. As a result, mobile services became available to a wide range of
society – the majority of Poles are currently using
them. In 2004, service prices dropped by more than
40% and are among the lowest in Europe. In such
a dynamically changing market situation, which is
characterized by stronger and stronger competition
and which requires marketing inventions, Plus GSM
network has remained the leader in the area of acquisition and retention of postpaid customers, both
individual and business ones.
The dynamically developing offer of our network,
which was extended by over 50 products and services last year, enables us to maintain the customer’s
trust and loyalty, thus improving our position on the
market. Our customers, both individual and business
ones, are to a larger degree aware of the possibilities
offered by Plus GSM network and are using them
more and more efficiently. It is active and loyal users who contributed to our good financial results,
among others, in terms of average revenue per user
(ARPU), income and profit. We owe favorable results
also to the high standard of services provided by us
as well as to properly addressed investments and
effective management of the financial resources.
Polkomtel S.A. also strengthened its leading position on the market of services for business sector.
Currently, the network is servicing over 50% of corporate customers in Poland. Out of the newly introduced services, the convergent telephony, which is a
comprehensive and novelty offer for this segment of
the market, met with enormous interest. The commercial launch, for the first time on the Polish market, of comprehensive services based on the combined implementation of EDGE/UMTS technology
confirmed the innovativeness of the network.
Polkomtel S.A. results indicate that we have lived
up to the market challenges. We are preserving,
but also improving, our position. We are acquiring
new customers – also from the communities which
have not used the mobile telephony so far – among
others thanks to the new service of Sami Swoi. Our
Company preserves its chief assets and will systematically strengthen them.
.3.
The results achieved by the Company in 2004 are a
good basis for effective work in the current and next
years. We hope that thanks to our efforts, the customers of Plus GSM network will use the benefits
of mobile telecommunications more and more frequently, that they will perceive us as a friendly operator and valuable partner. We would like to ensure
for our customers a broader use of the possibilities
of third generation telephony, services whose final
shape is still difficult to foresee on such a dynamically changing market.
I am fully convinced that Plus GSM will strongly
mark its presence on the Polish telecommunications
market and that this will be the source of satisfaction not only for our customers, but also for Shareholders and Business Partners.
I wish the same to everyone.
On behalf of the Management Board
Jarosław Pachowski
President of the Management Board
General Director of Polkomtel S.A.
.4.
5 744
5 176
2 004 1 980
924
1 751
4 710
757
516
’02
’03
’04
’02
’03
’04
’02
’03
’04
R e v e n u e s
E B I T D A
Net Profit
in PLN million
in PLN million
in PLN million
.5.
growth by 28%
7 026
7 000
3 053
3 050
as compared to 2003
growth by 1.73%
as compared to 2003
3 040
3 030
6 500
3 020
3 010
3 001
3 000
6 000
2 990
2 980
2 970
5 500
5 488
2 960
2 950
2 940
5 000
2 930
2 920
2 917
2 910
4 500
4 550
’02
2 900
’03
’04
’02
’03
’04
Customers
Employees
in ‘000
Full Time Equivalents
.6.
Andrzej Herman
Chairman of the Supervisory Board
Jarosław Andrzej Szczepek
Supervisory Board Member
Andrzej Krug
Supervisory Board Member
Cezary Smorszczewski
Supervisory Board Member
Jesper Theill Eriksen
Supervisory Board Member
Henning Vest
Supervisory Board Member
Jürgen von Kuczkowski
Supervisory Board Member
Peter Walz
Supervisory Board Member
Jarosław Pachowski
President of the Management Board,
General Director
Mirosław Bielicki
Vice President of the Management Board,
Market Development Director
Thomas Eberle
Management Board Member,
Technical Director
Robert Krawczyk
Management Board Member,
Sales and Customer Relationship
Management Director
Krzysztof Nawrocki
Management Board Member,
Human Resources and Administration Director
Finn Schkolnik
Management Board Member,
Finance Director
Stanisław Dobrzański
Supervisory Board Member
Status as of 31 December 2004
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.8.
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Polski Koncern Naftowy ORLEN S.A.
Vodafone Americas Inc.
19.61%
19.61%
KGHM Polska Miedź S.A.
TDC Mobile International A/S
19.61%
19.61%
Węglokoks S.A.
EXATEL S.A.
4.00%
1.51%
Polskie Sieci Elektroenergetyczne S.A.
16.05%
Status as of 31 December 2004
. 10 .
n 2004, the Polish telecommunications market was developing dynamically and was subject to substantial transformations. It was
the year of an intense competition, in particular in the area of pre–paid and mix services.
The operators conducted intensive marketing activities, sometimes unique, focusing on acquisition
of new customers coming from less well–off segments. The competition was also supported by an
equal market position of the operators – changes of
leaders on the post–paid and pre–paid service market occurred within just a few quarters.
For most of the year we observed a kind of tariff war
and competition in price reduction. As a result, the
prices dropped by over 40%. The price reduction in
Poland concerns mainly the basket of services of the
least wealthy users, who are most sensitive to the
level of service prices. The prices currently offered
by the Polish mobile operators are among the lowest in Europe. The price level in the Czech Republic is
by ca. 10% higher than in Poland, and in Hungary – by
ca. 45%. The price level in UK, France and Germany is
significantly higher.
The radical reduction of prices in 2004 contradicts
the claim that oligopoly is maintained on the mobile
telephony market. The Polish market was able to reduce the prices to the lowest level in Europe based on
market mechanisms without an intervention of the
Regulator or introduction of new players to the market. A comparison with other EU countries strongly
shows the competitive nature of the Polish market.
The aggressive competition was not the only challenge. Despite systematic improvement of the economic growth indicators and the increase of the
population’s income as well as an economic boom
resulting from joining the EU by Poland, difficult
conditions for running business still prevailed on
the Polish market. The expenditures for the mobile
telephony in relation to GDP in Poland are twice as
high as on the developed EU markets and comparable to such countries as e.g. Spain. The level of revenues of an operator on the Polish market is four
times lower than that of the operators in EU countries. Return on investment in network roll–out and
maintenance is also at a significantly lower level.
The average revenue per user (ARPU) indicator in
Poland is one of the lowest in Europe and is constantly decreasing.
1 second billing, which is now a standard in Poland,
is the most beneficial solution for the customer. This
is a phenomenon in the EU – this type of solutions
are not used on any European market in official offers. The prices of SMS’s in the entire Europe are also
much higher than in Poland.
. 11 .
Despite objectively difficult conditions, the market
was developing constantly, as reflected in the growing penetration indicators exceeding 60%. In the
forthcoming years this indicator should reach the
penetration level characteristic for the leading EU
countries (77% – 98%).
Strong competition motivated the introduction
of numerous new services and products. Practical implementation of the third generation telephony started. The offer addressed in particular to the
so–called business users of mobile services, who
generate the highest revenues for the operator, was
enriched. The competition in this area will be more
and more aggressive.
In 2004, the operators launched Third Generation (3G)
telephony which offers video calls, better sound and
video quality as well as advanced multimedia services. Plus GSM was the first to commercially launch
the third generation network, doing so already in
September 2004. It is expected that 2005 will lead to
further growth of services using data transmission,
which should result in increased revenues and maintaining the high level of satisfaction with the services
guaranteed by the operator.
Introduction of the new Telecommunications Law in
September 2004* was an important event. Practical
implementation of certain regulations will be visible
as late as in 2005. Creating a possibility of keeping
the current number when changing a wireless service provider may result in the growth of a CHURN
rate (the rate of subscribers’ deactivations). The operators, trying to anticipate this phenomenon, enrich
and modify their offers addressed to the current customers and strengthen their own image.
Polish mobile market will develop thanks to strengthening of fair competition, development and utilization of state–of–the–art telecommunications infrastructure in the conditions of respecting the equality
of business entities in legal terms, respecting of license commitments and the freedom of business activities. Market mechanisms act more efficiently than
administrative ones. In 2005, the price competition
weakened slightly, but a further development will be
visible mainly due to the introduction of new services
to the offer. The struggle for acquisition of the most
valuable customers will be more aggressive. Because
of that, ever more interesting marketing solutions will
be sought after. The expected changes in the ownership structure, as well as the effects of decisions
made by the Regulator, will be reflected in the shape
of the market.
*Act published in the Journal of Law of 3 August 2004, came into force 30 days after its announcement
. 12 .
olkomtel S.A. is one of three mobile operators in Poland. The company launched
its operations on 1 February 1996, when it
obtained the first Polish license for providing GSM 900 services. At present Polkomtel S.A. holds a permit to operate a public mobile telephony network and a reservation of frequencies in
GSM 900 MHz, DCS 1800 MHz and UMTS bands.
In 2004, Polkomtel S.A., in the conditions of growing
competition on the Polish mobile telephony market,
successfully accomplished its strategic goals. The
Company efficiently responded to the activities of
other operators, while strengthening its position in
particularly valuable market sectors, increasing its
customer base, range of offers and improving the
customer service.
Polkomtel S.A. strengthened its leading position
on the business market sector. Currently the network services over 50% of corporate customers in
Poland. Out of the new services, the convergent telephony, which is a comprehensive and novelty offer for the above mentioned segment, met with
enormous interest.
Active operations of Polkomtel S.A. had a positive
impact on the Company’s results in 2004. Last year,
the Company had the biggest share in post–paid
adds, implemented new products and services and
achieved positive financial results. This allowed improvement of the market situation, keeping of the
customers’ trust and loyalty.
PLUS 32.7%
ERA 35.8%
IDEA 31.5%
Revenue market share of the operators in 2004
. 13 .
The total customer base of Plus GSM at the end of
2004 amounted to 7 026 400 (up by 28% as compared to the end of 2003). Price reduction, numerous promotional offers, in particular packs of free
minutes and SMS’s, reduced in a natural way the
ARPU (average revenue per user) rate to the level of
PLN 73.8, i.e. by 11.6%. The average monthly ARPU
for post–paid customers amounted to PLN 129.9
– down by 10.5% as compared to 2003 (PLN 145.2).
The average monthly ARPU for prepaid customers
in 2004 amounted to PLN 24.2 – down by 14.7% as
compared to 2003 (PLN 28.4).
Polkomtel S.A. actively participated in the process of
liberalization and stimulation of competition on the
Polish telecommunications market. Introduction of
over 10% reduction of rates for calls from fixed network to mobile network of Polkomtel S.A. in August
2004 – followed by another reduction in November
– allowed fixed network operators to reduce retail
prices of calls to mobile networks, thus increasing the
availability of these services on the Polish telecommunications market. Simultaneously, as a result of
successful negotiations and renegotiations of agreements with domestic telecommunications operators,
the fixed net customers of Polkomtel S.A. obtained a
possibility of making calls to 0–800 and 0–801 lines
in the networks of other operators. The negotiations
and work on the introduction of a possibility of making calls to Premium Rate numbers of 0–700 and
0–300 are very intensive. The “fixed” offer of Polkomtel S.A. is becoming more and more comprehensive,
which has been appreciated by many customers.
Polkomtel S.A. was the first operator to start gradual,
adjusted to the market capacity, introduction of 3G
standard services, acquiring first customers of UMTS
telephony.
Market competition in 2004 was particularly intense
in the prepaid services sector. In August 2004, Polkomtel S.A. launched a new mobile telephony operating in prepaid standard under the brand of Sami Swoi.
As a result of the introduction of this product, Polkomtel S.A. significantly increased its share in the segment of low–price oriented customers. Achieving position depended on the introduction of an attractive
price offer, preparing of the new sales channels and
creating a cheap and honest brand.
Sami Swoi offer was addressed to a new, untapped
market segment – inhabitants of towns with population not exceeding 20,000, expecting favorable
price offer along with simple and clear rules of mobile handset use.
Sami Swoi offered the basic functionality of mobile
telephony (voice calls, SMS’s and voice mail), startup sets, sets with handsets and reload cards with
the values starting from as little as PLN 10. An extensive distribution network, exceeding the current sales
network of products and services of Polkomtel S.A.,
guaranteed a broad access to Sami Swoi products.
. 14 .
n attempt of the maximum improvement of customer service was one of the
basic elements of market competition.
All the changes, introduced by Polkomtel
S.A., facilitating customer service were
always aimed at adjusting it to individual needs as
well as building the loyalty and emotional relationship of customers with Plus GSM network.
In 2004, Polkomtel S.A. introduced subsequent functional solutions facilitating customer service and
self–service with the use of the Interactive Voice Response System, as well as the Electronic Customer
Service Office (e–BOK) and SMS, including:
. the Electronic Customer Service Office (e–BOK) enabled obtaining information about the remaining units
within call packs (for voice calls and SMS’s), as well
as changing tariffs and activating/deactivating value added services. Furthermore, it is possible to acquaint oneself with and use personalized sale and
retention offers;
. a Chat service, enabling communication with a consultant from the Customer Service Office, was introduced;
. a functionality of obtaining information about the
remaining units within call packs using the dedicated 2580 number was introduced.
A possibility of self–service with respect to checking
the balance of points collected in 5Plus Program as
well as exchanging these points for prizes via the Interactive Voice Response System and SMS was introduced in the area of loyalty programs.
Customers can also receive information about the
value of outstanding liabilities in the form of an SMS.
A more customer–friendly provision was introduced
to Promotion Regulations stipulating that the value
of a contractual penalty decreased as time of contract passes.
Changes and enhancements introduced so far produce visible effects, thus achieving further improvement of customer service quality remains one of the
basic goals of efforts in all the organizational units
of the Company as well as in the sales network. The
goal of Plus GSM network is to offer the customer service which fulfills the customers’ expectations
and is highly competitive as compared to the solutions offered by other operators.
. 15 .
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. 17 .
hile actively competing on the market
for acquisition of new customers in
2004, Polkomtel S.A. in particular focused on enriching its offer with new
services expected by the customers.
A broad range of investments created such possibilities. Customers embraced the new proposals of
Polkomtel S.A., as was reflected in the results for
2004, including the financial effects of the Compa-
which enabled offering by Tele2 to its subscribers
cheaper calls to mobile networks, thus increasing
the level of competitiveness on the domestic market of Fixed–to–Mobile calls.
New proposals
for Individual Customers
s
ny’s operations.
Polkomtel S.A., being the leader of innovative solutions on the mobile market, provided its subscribers
and users with a broad offer of the services of highest quality and most advantageous price. In order
to fully meet the telecommunications needs of its
customers, Polkomtel S.A. both developed its own
products and services offered in Plus GSM network
and undertook activities aimed at providing its customers with the ever increasing range of services
provided in the networks of other operators.
The activity of Polkomtel S.A. on the inter–operator market also translates into an increased degree
of competitiveness in the domestic telecommunications market, facilitated access of subscribers and
users of other telecommunications networks to the
subscribers of Plus GSM network and to the services provided in Plus GSM network, as well as reduced
costs. The most important achievements of Polkomtel S.A. in this area in 2004 include signing of the Interconnect Agreement with Tele2 Polska Sp. z o.o.,
Polkomtel S.A. successfully launched mixPlus service,
which had attracted over 600 000 customers till the
end of 2004.
. New services in the network
w mixPlus – a network service combining the benefits
of the prepaid system – full, on–going cost control
and those of the postpaid system – low purchase price of a handset.
. Tariff Products
w Minutes / SMS / Value Packs to an account for the
mass market with a 12–month contract.
w Introduction of a new GPRS model for sales with dedicated price plans and MB packs for the Internet access. The offer was prepared in two versions: for individual and business customers.
w Introduction of New Plus promotional price plans for
the mass market. Main benefits of the offer: 5 basic
price plans with flat rates, low basic rate (60 gr. excl.
VAT per minute; 15 gr. excl. VAT per SMS), exchangeability of minutes for SMS’s; 1 second billing.
. 18 .
w Promotion of international calls: low rate (PLN 1.20)
for calls to all EU countries, USA, Canada and Austra-
w Internet center www.plusmega.pl, wap.plusmega.pl,
which included infotainment services.
lia (1~6 zone), for all users and subscribers (post–
paid, mixPlus, Simplus), without any additional fees.
w Xyber Mech –an SMS game using information about
the geographical location of the player.
w SMS Contests with prizes and the service enabling
downloading of wallpapers, ringing tones, etc., “St.
Valentine’s Contest”, “Choose and win prizes for
Christmas”.
. UMTS Services
w Plus GSM was the first operator in Poland to commercially launch 3G UMTS services. Thanks to this
new technology, both subscribers and users of Plus
GSM network can use a very fast data transmission
ensuring, among others, the Internet access with
speed up to 384 kb/s as well as making of video
calls enabling simultaneous video and audio transfer
between callers. Plus GSM consistently develops the
scope of services based on data transmission and supports the biggest number of data transmission technologies: HSCSD, GPRS, EDGE, UMTS and WLAN.
. Media and infotainment services
w TVP Mobile Service– new product on the media market – launched by Telewizja Polska S.A. in cooperation with Plus GSM network. It is the first mobile information system in Poland. It enables easy, remote
access to the latest news as well as reports from the
world of science, literature and programs from all the
channels of Polish television. It is available on 98% of
the country’s territory.
w *72913 service – access to the Directory Enquiries of
the fixed network via *72913 code.
w WAP Sport information service, prepared in cooperation with “Przegląd Sportowy”.
w My wallpaper – a service enabling the development
and downloading to a mobile phone a wallpaper with
one’s own signature.
w Interactive Java comics.
w New mobile games and applications using Symbian
technology (Smart Phones e.g. Nokia Series 60).
Launch
of Gadu–Gadu (Java and WAP channels).
w
w Ski weather forecast in the most popular skiing resorts; information about results of matches and
events at European Championships (till 7 July) –
SMS, MMS; dedicated Internet page with football
content and a link to the description of the information service; infotainment services on the occasion of the Olympic Games; a dedicated site with
the content (ringing tones, wallpapers, animations)
on the occasion of Christmas.
w Plusnet – Calendar in Plusnet enables the users to
write down all information related to the organization of the day. Thanks to the notification function,
the Calendar reminds about the planned meetings
and forthcoming dates via e–mails and SMS’s.
w Info–line for in–roamers 605–707–605.
. 19 .
. Location services
. Pre–paid SIMPLUS
w I know where you are – a possibility of obtaining information via SMS about the location of family members. The service can be activated both via SMS and
e–BOK. It replaced the Plus Family service.
w Plus Family – a possibility of obtaining information
via SMS about the location of family members.
w Directory of subscribers enabling finding a phone
number of Plus GSM subscriber via WWW page.
w New, “flat” tariff Simplus – 1 second. This tariff offers
cheap calls and 1 second billing after the first minute.
Launching
of the promotion for the new Simplus users
w
– Non–Stop Bonus, in which after 90 days from the
activation, they receive free SMS, minute packs and
free reloads. Every active user receives such packs.
New
Simplus Conversion promotion– extending the
w
formula of conversion from Simplus to post–paid
with a possibility of transferring the Simplus number
without any additional fees to the post–paid service
in any corporate promotion of Plus GSM selected by
the user (this also applies to business promotions).
. Plus Zone
w New functionality was introduced: a possibility of selecting the way of using minute packs, setting of the
higher priority for Friends&Family service, switching
off the request for entering Plus Code when activating and modifying the services, activation of the service based on the address indicated by the user.
. MMS
w After the introduction of the exchange of MMS’s with
domestic network operators in 2003, in 2004 Polkomtel S.A. continued development of this service and
thanks to successful negotiations with foreign operators, provided its subscribers with a possibility of exchanging MMS’s also with subscribers of foreign mobile networks.
w A possibility of sending MMS’s to customers of Vodafone (Germany) network was launched, and on 15
October 2004 – to customers of Eurotel Praha (the
Czech Republic). There is also a possibility of receiving MMS’s from customers of these networks.
Personalization
of MMS photo cards.
w
w New denomination of 100/115 Value Cards – from
1 April 2004, the users purchasing the Value Card 100
receive a permanent bonus of PLN 15 as an additional
promotional account reload.
w Simplus reloads – reloading of pre–paid account from
post–paid activation.
New
reload channels: • WWW – Inteligo for Custow
mers who have an account in this bank. • Payment
via bank transfer – this service enables purchase of
reloads for customers of banks which do not offer
Simplus reload service directly from the bank account. • On–line in the Plus City – sale of electronic Value Cards at the cash–desks of Geant hypermarkets:
• Sale of Value Cards at POS terminals: Milo. Pronet,
LEW, PKN Orlen, Liberty, Billbird, Inter Consult, Telecard, in the terminals of KDWT network, mPunkt network, at BGŻ ATM’s, in the terminals of C&C Partners network.
Scratch
cards were replaced with Electronic Value
w
Cards (in the form of a print–out from the terminal),
which guaranteed the availability of all the denominations in the Company Stores of Plus GSM.
. 20 .
. Sami Swoi
It is a new model of mobile telephony offering the
package of basic services at a moderate price.
The following elements enrich the basic package:
w voice mail;
w launch of the service of selling Sami Swoi Electronic
Value Cards in the POS’ terminals (Euronet was the
first vendor to introduce Value Cards for sale in the
e–Pay network).
the only telecommunications operator on the Polish
market who can offer comprehensive telephone
services in mobile and fixed network, both directly
to customers who have a fixed number of Polkomtel S.A. and to those who would like to keep their
current TP S.A. number and simultaneously use the
services of Polkomtel S.A. This unique offer on the
Polish market, enabling the use of only one vendor
of comprehensive telecommunications services, sig-
Offer for
Business Customers
e
Polkomtel S.A. also strengthened its leading market position in the business sector. In order to maintain and strengthen its position, Polkomtel S.A. introduced new improvements, services and tariffs. Out of
the newly introduced services, the convergent telephony, which is a comprehensive and novelty offer for
this market segment, met with enormous interest.
Polkomtel S.A. was the first mobile operator to offer
fixed network services to its business customers as
early as in 2003. In 2004, as a result of successful negotiations with Telekomunikacja Polska S.A., the offer of fixed services of Polkomtel S.A. was enriched
with the services of long–distance, international
and fixed–to–mobile calls, provided to the subscribers of TP S.A. via 1069 prefix (NDS). Thanks to such
an enrichment of its offer, Polkomtel S.A. became
nificantly facilitates the management of telecommunications processes for customers in an enterprise
(one bill, one person taking care of the customer,
one contact point, one Customer Service Center),
and simultaneously, which is equally important, allows customers to reduce their costs of telecommunications services.
. Convergent Telephony
w
w
w
w
It is a comprehensive package of telecommunications
services based on the functionality of fixed and mobile technologies. This concept integrates diverse systems, while at the same time enabling significant cost
optimization. The following items were offered to its
users:
two new tariffs;
launching calls under convergent telephony to 913,
800, 801 numbers;
800 / 801 calls to TP S.A. numbers for the Convergent
Service;
implementation of Plus Package application.
. 21 .
. Tariff products
w Promotional price plans maxprofit! implemented
in two rounds, in October and November (modified
version). These plans were well received by the market. They were used as the basis for the introduction
of the permanent tariff offer, also available for the
existing customers – on 3 February 2005. Under these plans, attractive Value Added Services were launched, including: Contact Plus, Cheap Call Zone or Call
Cheaper. They were also added to the current price–
offer.
New
price plans: Efekt Plus. They offer 6 options of
w
Value Packs differentiated by the value, adjusted to
the needs of the SOHO market.
. Packet Corporate Network
This service enables connecting of customer’s IT
networks, dispersed at various locations, into one
WAN network with the guarantee of appropriate
flow–capacity and service quality – SLA. The offer
will enable – with respect to execution of VPN (Virtual Private Network) – meeting of the requirements
of the most demanding customers who have their
branches throughout Poland. The Packet Corporate
Network enables the customers to use, more flexibly and economically, other selected services of Plus
Package, such as Internet Access, Intranet Plus or
Access to SMSC.
. Mobile Office
.
1069 Prefix
It is an offer addressed to the Customers who have
a fixed phone, allowing them to make cheaper long–
distance, international and fixed–to–mobile calls.
1069 Prefix is a unique solution characterized by a
possibility of making joint settlements on the bill
together with payments for a mobile phone in Plus
GSM network as well as by the lack of monthly access fees or call set–up fees. Additionally, the customers may significantly reduce costs of calls in
their companies. It is possible thanks to the combination of the mobile and fixed telephony under the
Value Added Service of System Plus. This service is
addressed also to individual customers.
Plus GSM’s offer for Key Accounts. It enables synchronization of calendar, contacts and e–mails. Selected
handset models enable activation of a “push” mechanism, which on an on–going basis updates the mailbox, calendar and a list of contacts.
. 22 .
. 23 .
he sale of Plus GSM products and services is executed via the Company’s own
sales network and an Agency (indirect)
sales network, which consists of:
Main activities of Polkomtel S.A. in the area of development of the distribution network in 2004 were
focused on improving the effectiveness of the sales
channels through:
. Strengthening
.
Ca. 120 Company Shops and Stores – responsible for
acquisition and retention of individual customers and
small enterprises.
and extending the Company’s own
sales network – increasing the number of Company
Shops and Stores.
. Further development of the points providing after–
. Nearly 900 Authorized Point of Sale – responsible for
.
.
.
.
acquisition and retention of individual customers and
small enterprises.
Team of Direct Sales Representatives of Polkomtel S.A.
– responsible for acquisition of key and major accounts as well as for selling them highly advanced data
communication solutions.
Team of the Agent’s Direct Sales Representatives
(G300 Group) – responsible for acquisition and comprehensive after–sale services of business customers.
Pre–paid Distributors – main partners: Milo, Kolporter, RUCH.
Other sales channels, among others: telemarketing,
Internet Shop.
.
.
.
.
.
sale services and up–selling of new services in those
areas of Poland which have been so far insufficiently
penetrated by our Company.
Development and extension of the prepaid distribution network.
Creating a new distribution network for Sami Swoi
service.
Acquisition of new partners providing telemarketing
services.
Retaining the high standard of work of the Direct Sales Representatives.
Development of electronic sales channels – Self Service Assistant, supporting the service of key and major accounts.
. 24 .
. 25 .
t the end of 2004, Polkomtel S.A. offered the biggest range of international roaming among Polish GSM mobile
operators, consisting of 156 countries and territories (289 networks),
including the biggest range of international roaming
on GPRS platform (packet–switched data transmission), consisting of 70 countries and territories (122
networks). Last year, the international roaming coverage of Polkomtel S.A. increased by 34 networks in
19 new countries (including Mexico, Salvador, Libya),
and the coverage of GPRS roaming increased by 72
networks in 32 countries, among others, Australia,
Croatia, Egypt, Ireland, Macedonia, Morocco, Mexico, Serbia, Venezuela.
To ensure for its subscribers access to the latest
technical solutions of GSM system, Polkomtel S.A.
was the first operator in Poland to launch the third
generation 3G/UMTS roaming in 2004, thus offering
much higher speed of packet–switched data transmission in roaming as well as the international video calls service. Vodafone Italia became the first
3G/UMTS roaming partner of Polkomtel S.A.
Furthermore, Polkomtel S.A. was the first Polish operator to offer GSM roaming in Iraq in 2004, simultaneously ensuring the biggest coverage including
all the Iraqi GSM operators functioning in the entire
Iraq. This way Polkomtel S.A. fulfilled the demand
for telecommunications services of the representatives of the Republic of Poland taking part in the stability–restoring activities in this country as well as
key accounts of Plus GSM network.
By launching of roaming with the satellite operator,
Thuraya, in 2004 Polkomtel S.A. ensured additional
coverage in the places were there are no traditional GSM networks (in Arab countries, in some African, European and Asian countries as well as on the
Mediterranean, Baltic, North, Red, Black, Caspian
Seas and in the eastern part of the Atlantic Ocean).
Polkomtel S.A. focuses its efforts on constant improvement of the quality and reliability of its services. In 2004, under these activities Polkomtel S.A.
signed an agreement for direct connection to the
network of another foreign operator – Belgacom,
which is one of the biggest global players on the
market of the international voice and data transmission. Thanks to this agreement, the customers of
Polkomtel S.A. gained a possibility of making cheaper international calls of guaranteed quality.
. 26 .
n 2004, Polkomtel S.A. invested PLN 925.5
million, by 1.7% more than in 2003 (PLN 910.5
million). The cumulated amount of capital expenditures since the beginning of the Company’s operations in 1996 till the end of 2004,
was 7.3 billion (this amount does not include the License Fee payments).
the radio network, including building of new Base
Transceiver Stations (BTS), Base Station Controllers
(BSC), micro–wave links (MW) and adjusting part of
the existing Base Stations to UMTS technology. In the
area of fixed network, whose share in the total capital expenditures amounted to ca. 7.4%, the capacities
of MSC’s, HLR’s and TSC’s were significantly extended
and SA STP nodes dedicated for SS7 signaling trans-
In 2004, the process of development and moderni-
fer were commercially launched. Expenditures for the
transport network including radio transmission network, fiber–optic network and backbone network in
ATM and IP technology constituted nearly 11.5% of
the total expenditures for the network roll–out. A significant part of expenditures related to the telecommunications network (3.9%) were incurred for the
development of tools for network and service management. Expenditures for the development of GPRS
network consumed over 0.9% of total investments.
zation of the data communications infrastructure of
Polkomtel S.A. was continued. Total expenditures on
the telecommunications network in 2004 amounted
to PLN 683 million. 613 new BTS sites were launched,
which gave the total number of 4 647 BTS’s on air in
Plus GSM network at the end of 2004. A third generation network was launched in Warsaw on 80 nodeB’s
(UMTS BTS’s). In 2004, ca. 63% of total expenditures
for the telecommunications network were spent for
fixed network 7.4%
transport network 11.5%
others 12.7%
radio network 63.0%
GPRS 0.9%
supporting systems 3.9%
value added services 0.6%
Structure of investments in the telecommunications network in 2004
(precentage share by functional division)
. 27 .
.
.
.
.
.
.
Effects of investment activities
Commercial launch of an UMTS network in Warsaw
available on over 50% of the city’s area. Apart from
the services known from GSM technology, UMTS
network enables video calls and the Internet access
with the speed comparable to the currently available DSL technologies.
Multiplying the availability of the high–speed packet–switched data transmission in EDGE technolo-
.
.
.
.
Plus GSM is prepared to launch:
27 new customers of convergent telephony;
87 new GPRS roaming partners;
70 new APN customers;
4 first 3G roaming partners.
In 2004, as in the previous years, the highest capital expenditures in the area of Information Technol-
gy. Currently EDGE is available on over 20% of the
Base Stations servicing the biggest agglomerations
and over 90 smaller cities.
Building of a new Mobile Switching Center (MSC
Gdynia).
Building of IN platform for the needs of WUK services (provision of telecommunications services –
long–distance, fix–to–net calls, etc. – for the subscriber of fixed networks via NDS=1069).
Implementing a platform for ECDS Video Streaming,
Polish TV Mobile Service, Olympic Games Service,
Agreement for Mazurian Lakes Area services.
Launching a platform for location services.
ogy were incurred for development of production
systems, i.e. billing systems for post–paid services (Spectrum 2000) and pre–paid services (Sicap),
ERP system (SAP R/3) and Data Warehouse. These
expenditures resulted from the introduction of
new products and services. The IT Division has introduced ca. 580 changes in the IT Systems, mainly for the needs of the Marketing and Operations
Divisions (among others, introduction of MixPlus,
Sami Swoi services and implementation of the loyalty program, establishing of the Central Repository
of Products and Services as well as improvement of
the effectiveness of billing processes).
Currently, Polkomtel S.A. has a closed optical ring of
10 Gb/s: Warsaw – Bydgoszcz – Poznań – Wrocław
– Katowice – Kraków – Warsaw with the activated MSP–Ring protection and a fiber–optic line Bydgoszcz – Toruń – Gdańsk with z 2 x 2.5 Gb/s.
A significant part capital expenditures concerned
changes in the IT infrastructure – extension of IBM,
HP and Cisco equipment and the purchase of additional licenses due to the growth of the customer
base and the continued process of hardware platforms consolidation. The development of data transmission systems and the Company’s office infrastructure was continued. The IT Division solved over
50 thousand problems reported to the Help Desk
Department and the Internet pages of Plus GSM had
over 18 million visitors.
. 28 .
s of 31 December 2004, the headcount
in Polkomtel S.A. was 3 053 full time
equivalents. As compared to the end of
2003 (3 001 full time equivalents), the
figure grew by 52, i.e. 1.73%.
57.57% of the employees are men, 42.43% – women.
As of 31 December 2004 the average age in the Company was 32.1. The average age for women was 31,
and for men – 33. It should be emphasized that as
many as 62.6% of Polkomtel S.A. employees have a
degree, and this figure is growing every year.
2 301
2 000
1 849
1 800
1 830
1 600 1
1 760
1 750
560
1 700
1 200
1 650 1
647
800
The Company constantly takes care of professional
skills and effectiveness of the employees. In 2004,
in order to improve staff qualifications, as many as
36 147 training days were organized. Each employee spent 11.8 days on training during the year, on
average.
1 600
400
1 550
1 500
0
Every year, Polkomtel S.A. examines the effectiveness of its employees who are assessed according
to the determined criteria and indicators. Results
of these examinations are illustrated by the following graphs.
’02
’03
’04
’02
’03
’04
Indicator 1
Total number
of customers per 1 full
time equivalent.
Indicator 2
Revenues per one full
time equivalent
in PLN ‘000.
The relation of the total number of
Value of revenues per one
customers to the total headcount
employee (full time equivalent) in
(full time equivalents) in Polkomtel
2004 amounted to PLN 1 849 000
S.A. at the end of 2004 amounted
(increased by 5.06% as compared
to 2 301 (increased by 25.74% as
to the indicator of 2003).
compared to the indicator of 2003).
. 29 .
7.73
668
7.6
648
640
600
600
7.23
7.2
6.8
6.66
6.4
560
6.0
520
’02
’03
’04
5.6
’02
’03
’04
Indicator 3
EBITDA per one full
time equivalent
in PLN ‘000.
Indicator 4
HR ROI – Human
Resources Return
on Investment (in PLN).
Value of EBITDA per one
Gross profit (in PLN) from every
employee (full time equivalent)
1 PLN invested in the employees.
in 2004 amounted to PLN
648 000 (decreased by
2.99% vs. previous year).
Human Resources Return on Investment (HR ROI) indicator was added, similarly as in the previous year,
to the effectiveness measurement program in 2004.
This indicator shows the amount of profit (gross) received from every zloty invested in Polkomtel S.A.
employees. In 2004 this amount equaled PLN 7.23,
which means the decrease of HR ROI value by 6.47%,
as compared to 2003.
. 30 .
OPER ATING R ESU LTS
A ND FINA NCI A L STAT EM EN T
. 31 .
Operating Results
Financing of Operations
Customer Base
The total customer base of Plus GSM amounted to
7 026 400 customers at the end of 2004. This means
the growth by 28% as compared to the end of 2003.
The post–paid customer base increased to 3 367 600
customers, and the pre–paid user base increased to
3 658 800, which meant the growth by 32.3% and
24.4%, respectively.
In 2004 Polkomtel S.A. financed its operations both
from its own resources and from external resources in the form of bank loans and commercial paper issue programs. The dividend in the amount of
PLN 347 885 000 was paid in May 2004. The total
debt of Polkomtel S.A. at the end of 2004, amounted to PLN 535.1 million, and was 52.5% lower than
at the end of 2003 (PLN 1 126 million). At the end
of 2004, the Company did not have any long–term
debts on account of bank credits. Short–term lia-
In 2004, as in the preceding year, pre–paid services
users constituted a majority among the newly–ac-
Churn Rate
Churn rate in Plus GSM network increased to the
level of 22.3% in 2004 (21.2% in 2003). This was
caused by the higher churn of pre–paid customers
migrating to the Company’s competitors as a result
of the change of the offer consisting in the significant reduction of rates.
bilities on account of bank credits and issued commercial paper amounted to PLN 535.1 million at the
end of 2004 and PLN 781.6 million at the end of
2003. The Debt/EBITDA* ratio reached the level of
0.26, by 50.9% lower than at the end of 2003 (0.53).
The improvement of the debt ratios mainly results
from better operating results. Better debt ratios
have been achieved despite the payment of dividend in the amount of 50% of available net profit
generated by the Company.
Average Revenue Per User
The Average Revenue Per User (ARPU) in 2004 decreased by PLN 9.6 to the level of PLN 73.8 (PLN
83.5 in 2003). This decline resulted, as in the previous year, from the higher share of pre–paid users.
The average monthly revenue per pre–paid user
was PLN 24.2 (down by PLN 4.2 as compared to
2003). The average monthly revenue per post–paid
customer in 2004 decreased by PLN 15.3 vs. 2003 to
the level of PLN 129.9. The decline of ARPU in % for
pre–paid customers in 2004 – vs. 2003 – amounted to 14.7%, whereas in the case of post–paid customers it was 10.5%.
The syndicated loan (Facility Agreement signed on
25 March 1998, annexed on 22 September 2000), with
Deutsche Bank Luxembourg as the Agent, has remained (as in the previous years) the main source of
external financing. This loan is used for financing the
investment activities. At the end of 2004 Polkomtel
S.A. had an unused credit line within this long–term
facility in the amount of PLN 1 161.3 million. In order
to finance the current operations, in 2004 Polkomtel S.A. used short–term revolving credits and credits
on the current account. At the end of 2004, the Company had short–term credit lines opened in four banks
with a maximum available limit of PLN 96 million.
quired Customers, i.e. 53.8%.
*Annualized EBITDA - Polkomtel S.A. calculations
. 32 .
Furthermore, in order to reduce the costs of financing, the Company used the Commercial Papers Issue Program. The value of the entire program was
set at PLN 500 million. At the end of 2004 the utilization of the Program amounted to PLN 230 million,
as compared to PLN 428 million at the end of 2003.
Settlement of derivatives decreased the result by
PLN 3.2 million in 2004, whereas this item improved
the result in 2003 by PLN 38.0 million. Other net revenues and costs decreased the result in 2004 by PLN
5.7 million, whereas in 2003 they decreased the result by PLN 3.1 million.
Financial Results
Sales Revenues
In 2004, the balance on financial operations was
positive and increased the operating profit by PLN
34.5 million. In 2003, the balance on financial operations decreased the result by PLN 285.7 million. The
positive result on the financial activities was mainly determined by the exchange rate gains in the
amount of PLN 220.9 million, as compared to the exchange rate losses in the amount of PLN 215.6 million last year. Strengthening of PLN value vs. euro
by 14% and vs. US dollar by 20% enabled Polkomtel S.A. to generate a significant profit on account of
unrealized and realized exchange rate gains. However, the significant majority were the unrealized exchange rate gains, out of which PLN 144.0 million
were the gains on account of revaluation of UMTS
License. Change of the status in market valuation of
derivatives, which constituted an element of investments in 2004, reduced the result by PLN 90.4 million, whereas in 2003 this item improved the result
by PLN 31.7 million. In connection with the consistently reduced debt, the interest on credits and loans
does not constitute a significant item of financial
costs. In 2004, the net interest on credits and loans
amounted to PLN 38.7 million vs. PLN 87.1 million in
2003. The remaining net interest in 2004 amounted to PLN 48.4 million (PLN 49.6 million in 2003).
In 2004, the total net revenues from sales increased
by 11.0%, as compared to 2003 and amounted to
PLN 5 743.9 million. The revenues from the sale of
telecommunications services account for 96.7% of
total revenue.
The increase of revenues in 2004 resulted mainly
from the growth of the number of customers as well
as the constant extension of the package of non–
voice services and their more intensive use by customers. The growth of revenues on this account was
by 16% higher than last year.
Operating Expenses
The costs of goods and services sold in 2004 amounted to PLN 4 632.0 million, up by 16.2% as compared to 2003. The cost of sold services constituted 75.5% of total costs, whereas the remaining costs
were the costs of handsets and materials (24.5%).
As compared to 2003, the cost of sale of handsets
increased by 34.3% and equaled PLN 1 052.3 million.
The balance of other operating revenues and expenses was at the level of PLN 39.9 million, as compared to PLN 60.5 million in 2003.
. 33 .
Result on Operating Activities
Cash Flows
The operating profit in 2004 decreased by 7.8% as
compared to 2003 (PLN 1 249.9 million) and amounted to PLN 1 151.8 million. EBITDA radio, calculated on
the basis of management accounting, dropped by
1.2% and reached the level of PLN 1 979.8 million. In
2004, EBITDA ratio calculated to revenues reached
the level of 34.5%, as compared to 38.7% in 2003.
The cash flow statement for the period from 1 January 2004 to 31 December 2004 showed the decrease of monetary resources and their equivalents
by the amount of PLN 9.0 million as compared to the
growth of these resources by PLN 8.7 million in the
same period of 2003. Cash flows on individual types
of activities were as follows:
Net Profit
The net profit in 2004 amounted to PLN 923.6 million,
up by 22.1% as compared to 2003 (PLN 756.6 million).
Such a high growth of net profit was achieved by
significantly improved result of financial operations.
Also the increase of the revenue stream through the
offers of new attractive price plans, differentiation
of the service offering with the simultaneous strict
cost control contributed to this improvement.
. operating
Balance Sheet
The balance sheet total as of 31 December 2004 was
PLN 7 230.5 million as compared to PLN 7 215.7 mil-
.
lion in 2003. As of 31 December 2004, fixed assets
amounted to PLN 6 198.0 million, up by 1.5% as compared to 2003 (PLN 6 109.1 million). As of 31 December 2004, the current assets amounted to PLN 1 032.5
million, down by 6.7% as compared to 2003.
activities – positive cash–flows in the
amount of PLN 1 914.4 million in 2004, as compared
to PLN 1 671.9 million in 2003 – up by 14.5%. Cash
flows on operating activities are to the large degree
determined by the net financial results and depre-
.
ciations.
investment activities – negative cash flows in the
amount of PLN 1 003.7 million in 2004, as compared
to negative cash flows in the amount of PLN 741.8
million in 2003 – up by 35.3%.
financial activities – negative cash flows in the
amount of PLN 919.6 million in 2004, as compared to
the negative cash flows in the amount of PLN 921.4
million in 2003 – down by 0.2%. In 2004, the Company was consistently decreasing its debt.
. 34 .
status as of
31.12.2004
31.12.2003
present year
previous year
6 197 980 907.25
6 109 139 341.48
1 032 546 663.63
7 230 527 570.88
4 095 213 085.17
1 106 518 368.47
7 215 657 709.95
3 519 495 508.28
BALANCE SHEET
Non current assets
Current assets
Balance sheet total
Equity
PROFIT AND LOSS ACCOUNT
Net income from sales
Profit on sales
Operating profit
Gross profit
Net profit
5 743 870 822.83
1 111 918 562.39
1 151 840 176.69
1 186 306 221.40
923 602 576.89
5 176 226 282.77
1 189 392 632.79
1 249 894 748.52
964 186 094.81
756 588 163.77
1 914 391 824.83
–1 003 752 472.78
–919 631 059.55
1 671 945 251.01
–741 819 679.90
–921 417 246.21
CASH FLOWS STATEMENT
Operating activities
Investment activities
Financial activities
. 35 .
he Financial Statements for the financial year ending on 31 December 2004
have been audited by our auditor Deloitte
& Touche Audit Services Sp. z o.o.
The Auditor has issued the unqualified opinion on
the above mentioned Financial Statements.
The data presented on the next pages do not constitute the full Financial Statements however, all data
were taken from the audited Financial Statements
of Polkomtel S.A.
. 36 .
Status as of
ASSETS
A.
NON CURRENT ASSETS
1. Intangible assets
1.1.Cost of development
1.2.Goodwill
1.3.Other intangible assets
1.4.Intangible assets not in use, yet
2. Tangible assets
2.1. Fixed assets
2.1.1. Lands (including the perpetual usufruct right)
2.1.2. Buildings
2.1.3. Property plants and equipment
2.1.4. Motor vehicles
2.1.5. Other fixed assets
2.2. Assets under construction
2.3. Prepayments on assets under construction
3. Long-term receivables
3.1. From affiliated companies
3.2. From other companies
4. Long-term investment
4.1. Land and buildings
4.2. Intangible assets
4.3. Long-term financial assets
4.3.1. From affiliated companies
4.3.2. From other companies
4.4. Other long-term investments
5. Long-term prepayments
5.1. Deferred tax assets
5.2. Other long-term prepayments
B.
CURRENT ASSETS
1. Inventory
1.1.Materials
1.2.Half-made products and goods under construction
1.3.Finished products
1.4.Goods
1.5.Prepayments for deliveries
2. Short-term receivables
2.1.From affiliated companies
2.1.1. Trade receivables:
2.1.1.1. < 12 months
2.1.1.2. > 12 months
2.1.2. Others
2.2.From other companies
2.2.1. Trade receivables:
2.2.1.1. < 12 months
2.2.1.2. > 12 months
2.2.2. Tax, donations and social security receivables
2.2.3. Others
2.2.4. Receivables in Court
3. Short-term investments
3.1. Short-term financial assets
3.1.1. From affiliated companies
3.1.2. From other companies
3.1.3. Cash
3.1.3.1. Cash on hand
3.1.3.2. Cash in bank
3.1.3.3. Other cash
3.1.3.4. Other financial assets
3.2. Other short-term investments
4. Short-term prepayments
Assets total
31.12.2004
present year
31.12.2003
previous year
6 197 980 907.25
2 561 820 256.31
0.00
0.00
2 532 068 572.31
29 751 684.00
3 508 812 579.64
3 261 711 923.28
27 959 910.44
105 027 504.31
3 008 847 590.63
19 397 118.26
100 479 799.64
247 082 915.44
17 740.92
0.00
0.00
0.00
1 600 000.00
0.00
0.00
1 600 000.00
1 600 000.00
0.00
0.00
125 748 071.30
120 050 455.40
5 697 615.90
6 109 139 341.48
2 586 203 552.18
0.00
0.00
2 572 874 369.90
13 329 182.28
3 387 060 934.89
3 112 204 588.43
27 449 264.24
98 590 963.97
2 865 454 298.60
24 044 370.04
96 665 691.58
274 661 735.22
194 611.24
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
135 874 854.41
129 232 710.95
6 642 143.46
1 032 546 663.63
141 632 563.53
7 227 487.86
0.00
0.00
134 405 075.67
0.00
667 281 547.44
4 805 295.81
4 805 295.81
4 805 295.81
0.00
0.00
662 476 251.63
630 571 913.74
630 571 913.74
0.00
24 640 217.70
7 264 120.19
0.00
16 814 381.10
16 814 381.10
0.00
0.00
16 814 381.10
1 194 279.67
11 804 804.35
3 815 297.08
0.00
0.00
206 818 171.56
1 106 518 368.47
223 731 276.65
5 822 141.00
0.00
0.00
217 909 135.65
0.00
583 328 049.51
1 060 982.73
1 060 139.91
1 060 139.91
0.00
842.82
582 267 066.78
551 720 183.19
551 720 183.19
0.00
25 262 158.54
5 284 725.05
0.00
104 023 588.99
25 806 088.60
0.00
0.00
25 806 088.60
1 989 984.11
20 182 457.44
3 633 647.05
0.00
78 217 500.39
195 435 453.32
7 230 527 570.88
7 215 657 709.95
. 37 .
Status as of
A.
EQUITY & LIABILITIES
EQUITY
1. Share capital
2. Called-up share capital (negative value)
3. Own shares (negative value)
4. Supplementary capital
4.1.From the sale of shares above their nominal value
4.2.Obligatory
4.3.Created in accordance with By-laws or Articles of Association
4.4.From Shareholders’ contribution
4.5.Other
5. Revaluation reserve capital
6. Other reserve capital
7. Retained earnings
8. Net current financial results profit (loss)
9. Other charges of current financial results (negative value)
B.
LIABILITIES AND PROVISIONS
1. Provisions for liabilities
1.1. Deferred tax liability
1.2. Provision for pension benefits and similar
1.2.1. Long-term
1.2.2. Short-term
1.3. Other provision
1.3.1. Long-term
1.3.2. Short-term
2. Long-term liabilities
2.1. From affiliated companies
2.2. From other companies
2.2.1. Long-term loans, bonds and other securities
2.2.2. Long-term bank loans
2.2.3. Other long-term financial liabilities
2.2.4. Other long-term liabilities
3. Short-term liabilities
3.1. From affiliated companies
3.1.1. Trade liabilities:
3.1.1.1 < 12 months
3.1.1.2 > 12 months
3.1.2. Other liabilities
3.2. From other companies
3.2.1. Bank loans
3.2.2. Loans, bonds and securities
3.2.3. Other financial liabilities
3.2.4. Trade liabilities:
3.2.4.1 < 12 months
3.2.4.2 > 12 months
3.2.5. Payments in advance for supplies
3.2.6. Bill of exchange liabilities
3.2.7. Tax, customs, social security and other
3.2.8. Payroll liabilities
3.2.9. Other short-term liabilities
3.3. Special funds
4. Accruals and deferred income
4.1. Badwill
4.2. Accrued expenses
4.2.1. Long-term
4.2.2. Short-term
4.3. Deferred incomes
4.3.1. Long-term
4.3.2. Short-term
Equity and liabilities total
31.12.2004
present year
31.12.2003
previous year
4 095 213 085.17
2 050 000 000.00
0.00
0.00
175 914 732.52
0.00
175 914 732.52
0.00
0.00
0.00
0.00
945 695 775.76
0.00
923 602 576.89
0.00
3 519 495 508.28
2 050 000 000.00
0.00
0.00
115 387 679.42
0.00
115 387 679.42
0.00
0.00
0.00
0.00
597 519 665.09
0.00
756 588 163.77
0.00
3 135 314 485.71
443 800 057.22
395 540 601.82
3 334 853.62
3 249 012.62
85 841.00
44 924 601.78
20 177 589.60
24 747 012.18
924 730 393.94
0.00
924 730 393.94
0.00
0.00
0.00
924 730 393.94
1 117 459 871.67
1 572 180.30
1 572 180.30
1 572 180.30
0.00
0.00
1 111 242 332.77
304 878 161.00
230 251 396.41
13 742 796.73
358 687 398.41
358 687 398.41
0.00
0.00
0.00
133 285 408.69
2 688.70
70 394 482.83
4 645 358.60
649 324 162.88
0.00
429 479 160.33
0.00
429 479 160.33
219 845 002.55
0.00
219 845 002.55
3 696 162 201.67
319 135 712.61
301 684 503.86
2 563 405.38
2 490 902.31
72 503.07
14 887 803.37
2 319 414.30
12 568 389.07
1 428 839 247.21
0.00
1 428 839 247.21
0.00
344 362 138.92
0.00
1 084 477 108.29
1 422 031 086.75
3 076 338.91
1 476 338.91
1 476 338.91
0.00
1 600 000.00
1 415 223 511.10
353 410 587.30
428 185 046.21
0.00
429 559 589.94
429 559 589.94
0.00
0.00
0.00
203 925 229.70
0.00
143 057.95
3 731 236.74
526 156 155.10
0.00
347 918 826.25
0.00
347 918 826.25
178 237 328.85
0.00
178 237 328.85
7 230 527 570.88
7 215 657 709.95
PROFIT AND LOSS ACCOUNT
. 38 .
period
I. Sales and similar income:
– from affiliated companies
1. Income from the sales of products
1.1. Income from the sales of goods
1.2. Income from the sales of services
2. Products movements
3. Costs incurred on products (Company’s own needs)
4. Income from the sales of goods and materials
4.1. Income from the sales of handsets
4.2. Income from the sales of other goods and materials
II. Cost of operating activity
– from affiliated companies
1. Depreciation
2. Consumption of materials and energy
3. External services
4. Taxes and charges
5. Payroll
6. Employee benefits
7. Other expenses
8. Value of goods and materials sold
8.1. Value of handsets sold
8.2. Value of other goods sold
III. Gross profit/loss on sales (I–II)
IV. Other operating income
1. Gain on the sales of fixed assets
2. Subsidies
3. Other operating income
V. Other operating costs
1. Loss on sale of fixed assets
2. Revaluation of non–financial assets
2.1. Accruals on receivables
2.2. Other provisions and revaluation write–offs
3. Other operating costs
VI. Operating profit / loss (III+IV–V)
VII. Financial income
1. Income from shares:
– from affiliated companies
2. Interest received:
– from affiliated companies
3. Gain from financial investment
4. Fair value of derivatives
5. Other interest
5.1. Positive exchange rates
5.2. Other financial income
5.2.1. Other financial income
5.2.2. Accrued interest
VIII. Financial costs
1. Interest:
– from affiliated companies
1.1. Interest on credits and loans
1.1.1. Interest on credits and loans – accrued
1.1.2. Interest on credits and loans – paid
1.2. Other interest
1.2.1. Other interest – accrued
1.2.2. Other interest – paid
2. Loss from financial investment
3. Fair value of derivatives
4. Others
4.1. Negative exchange rates
4.2. Other financial costs
IX. Gross profit/loss on business activity (VI+VII–VIII)
X. Result of extraordinary events (X.1.–X.2.)
1. Extraordinary gains
2. Extraordinary losses
XI. Gross profit/loss (IX+X)
XII. Current income tax
XIII. Other statutory appropriations
XIV. Net profit
01.01.2004
31.12.2004
present year
01.01.2003
31.12.2003
previous year
5 743 870 822.83
24 692 025.50
5 556 086 607.51
0.00
5 556 086 607.51
0.00
0.00
187 784 215.32
177 804 115.83
9 980 099.49
4 631 952 260.44
19 556 492.62
827 973 076.96
125 556 295.21
1 968 286 474.87
44 749 003.14
233 554 625.38
53 290 676.99
242 712 328.51
1 135 829 779.38
1 052 324 258.25
83 505 521.13
1 111 918 562.39
222 669 705.66
2 549 656.93
0.00
220 120 048.73
182 748 091.36
0.00
95 896 648.38
89 281 170.92
6 615 477.46
86 851 442.98
1 151 840 176.69
249 322 609.04
0.00
0.00
9 169 422.64
0.00
14 727 858.60
15 255.51
225 410 072.29
220 892 202.82
4 517 869.47
4 867.31
4 513 002.16
214 856 564.33
100 847 836.84
0.00
38 730 538.63
40 845.99
38 689 692.64
62 117 298.21
45 891 453.17
16 225 845.04
17 971 209.21
90 375 552.63
5 661 965.65
0.00
5 661 965.65
1 186 306 221.40
0.00
0.00
0.00
1 186 306 221.40
262 703 644.51
0.00
923 602 576.89
5 176 226 282.77
12 589 048.77
5 058 572 426.75
0.00
5 058 572 426.75
0.00
0.00
117 653 856.02
109 293 294.61
8 360 561.41
3 986 833 649.98
14 551 382.52
753 723 615.14
115 195 288.04
1 649 665 513.04
47 699 419.93
218 709 229.11
55 181 731.92
232 685 450.50
913 973 402.30
783 448 011.00
130 525 391.30
1 189 392 632.79
288 838 068.06
1 691 742.14
0.00
287 146 325.92
228 335 952.33
0.00
14 805 949.76
12 453 910.77
2 352 038.99
213 530 002.57
1 249 894 748.52
90 650 225.09
0.00
0.00
15 707 579.01
0.00
40 060 979.04
32 923 152.12
1 958 514.92
0.00
1 958 514.92
1 235 606.00
722 908.92
376 358 878.80
153 153 291.68
51 144 681.08
35 978 544.73
515 875.56
35 462 669.17
66 030 065.87
41 624 754.58
24 405 311.29
2 064 800.00
1 202 377.08
219 938 410.04
215 622 565.17
4 315 844.87
964 186 094.81
0.00
0.00
0.00
964 186 094.81
207 597 931.04
0.00
756 588 163.77
. 39 .
CHANGES IN EQUITY
period
I. Equity at the beginning financial year (OB)
a) changes in accounting standards
b) crucial mistakes corrections
I.a. Equity at OB, after reconciliation
1. Share capital at the beginning of the financial year
1.1. Changes in share capital
a) increase
b) decrease
1.2. Share capital at the end of financial year (CB)
2. Called-up share capital not paid at OB
2.1. Changes in called-up capital not paid
a) increase
b) decrease
2.2. Called-up share capital at CB
3. Own shares at OB
a) increase
b) decrease
3.1. Own shares at CB
4. Supplementary capital at OB
4.1. Changes in supplementary capital
a) increase
– from the sales of shares above their nominal value
– obligatory
b) decrease
– to cover loss
4.2. Supplementary capital at CB
5. Revaluation reserve at OB
5.1. Changes in valuation reserve
a) increase
b) decrease
5.2. Revaluation reserve at CB
6. Other reserve capitals at OB
6.1. Changes in other reserve capitals
a) increase
– from profit distribution
b) decrease
6.2. Other reserve capitals at CB
7. Retained earnings at OB
7.1. Retained gains at OB
a) changes in accounting standards
b) crucial mistakes corrections
7.2. Retained profit after reconciliation
a) increase
– divided profit
b) decrease
– transfer to supplementary capital
– transfer to reserve capital
– cover of tax loss carryforward
– declared dividend
– dividend paid
7.3. Retained profit at CB
7.4. Retained loss at OB
a) changes in accounting standards
b) crucial mistakes corrections
7.5. Retained loss after reconciliation
a) increase
– transfer of tax loss carryforward to cover
b) decrease
– cover from divided income
7.6. Retained loss at CB
7.7. Retained earnings at CB
8. Net financial result
a) net profit
b) net loss
II. Equity at the end of financial year (CB)
01.01.2004
31.12.2004
present year
01.01.2003
31.12.2003
previous year
3 519 495 508.28
0.00
0.00
3 519 495 508.28
2 050 000 000.00
0.00
0.00
0.00
2 050 000 000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
115 387 679.42
60 527 053.10
60 527 053.10
0.00
60 527 053.10
0.00
0.00
175 914 732.52
0.00
0.00
0.00
0.00
0.00
597 519 665.09
348 176 110.67
348 176 110.67
348 176 110.67
0.00
945 695 775.76
756 588 163.77
756 588 163.77
0.00
0.00
756 588 163.77
0.00
0.00
756 588 163.77
60 527 053.10
348 176 110.67
0.00
0.00
347 885 000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
923 602 576.89
923 602 576.89
0.00
4 095 213 085.17
3 000 092 344.51
0.00
0.00
3 000 092 344.51
2 050 000 000.00
0.00
0.00
0.00
2 050 000 000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
74 121 545.96
41 266 133.46
41 266 133.46
0.00
41 266 133.46
0.00
0.00
115 387 679.42
0.00
0.00
0.00
0.00
0.00
0.00
597 519 665.09
597 519 665.09
597 519 665.09
0.00
597 519 665.09
908 310 094.38
875 970 798.55
0.00
0.00
875 970 798.55
0.00
0.00
908 310 094.38
41 266 133.46
597 519 665.09
32 339 295.83
0.00
237 185 000.00
0.00
-32 339 295.83
0.00
0.00
-32 339 295.83
0.00
0.00
32 339 295.83
32 339 295.83
0.00
0.00
756 588 163.77
756 588 163.77
0.00
3 519 495 508.28
. 40 .
period
A.
CASH FLOW FROM OPERATING ACTIVITIES
I. Net profit / loss
II. Adjustments
1. Depreciation
2. Exchange rates (gains) losses
3. Interest dividends received and paid
4. (Gain) loss from investment activities
5. Changes in other provisions
6. Changes in the balance of inventory
7. Changes in the balance of receivables
8. Changes in the balance of short-term liabilities (excluding loans and credits)
9. Changes in the balance of prepayments and accruals
10. Other adjustments
III. NET CASH FLOW FROM OPERATING ACTIVITIES (A.I.+/-A.II.)
CASH FLOW
B.
CASH FLOW FROM INVESTMENT ACTIVITIES
I. Inflow from investment activities
1. Sales of intangible assets and tangible assets
2. Sales of investment in land and buildings and intangible assts
3. Sales of financial assets:
a) from affiliated companies
b) from other companies
– sales of financial assets;
– dividends received
– interest
– other financial assets inflow
4. Other investment inflow
II. Outflow from investment activities
1. Purchase of intangible assets and tangible assets
2. Purchase of investment in land and buildings and intangible assets
3. Purchase of financial assets:
a) from affiliated companies
b) from other companies
– other financial assets outflow
– long-term loans granted
4. Other investment outflows
III. NET CASH FLOW FROM INVESTMENT ACTIVITIES (B.I.-B.II.)
C.
CASH FLOW FROM FINANCIAL ACTIVITIES
I. Inflow from financial activities
1. Proceeds from issuance of share capital, inflow from other financial instruments and capital payment
2. Bank credits and loans
3. Commercial paper issue program
4. Other financial inflows
II. Outflow from financial activities
1. Cost of sales of own shares bought
2. Payment of dividends and other payments to Shareholders
3. Other than payments of dividends and other payments to Shareholders outflows from retained earnings
4. Bank credits and loans repaid
5. Commercial paper payments
6. Other financial liabilities repaid
7. Payments of liabilities arising from financial lease agreements
8. Interest paid
9. Other payments made
III. NET CASH FLOW FROM FINANCIAL ACTIVITIES (C.I.-C.II.)
D. NET CASH FLOWS (A+/-B+/-C)
E. CHANGE IN THE BALANCE OF CASH
– including change in the balance of cash from exchange rate (gains) losses
F. CASH AT THE BEGINNING OF FINANCIAL YEAR
G. CASH AT THE END OF FINANCIAL YEAR (F+/- D)
– with limited availability
01.01.2004
31.12.2004
present year
01.01.2003
31.12.2003
previous year
923 602 576.89
990 789 247.94
828 148 168.60
-72 124 994.38
70 252 432.60
10 102 887.06
105 944 103.46
82 098 713.12
-83 953 497.93
-166 794 284.97
121 912 072.65
95 203 647.73
1 914 391 824.83
756 588 163.77
915 357 087.24
753 726 609.72
51 557 699.94
99 831 924.39
18 460 837.42
-131 337 426.46
-71 650 987.02
82 891 044.76
151 043 141.36
32 151 197.21
-71 316 954.08
1 671 945 251.01
24 901 927.35
5 291 399.60
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
19 610 527.75
-1 028 654 400.13
-993 777 815.00
0.00
-1 600 000.00
-1 600 000.00
0.00
-1 600 000.00
0.00
-33 276 585.13
-1 003 752 472.78
52 052 519.43
3 346 035.13
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
48 706 484.30
-793 872 199.33
-767 819 040.33
0.00
0.00
0.00
0.00
0.00
0.00
-26 053 159.00
-741 819 679.90
4 038 185 325.78
0.00
223 218 162.78
3 814 967 163.00
0.00
-4 957 816 385.33
0.00
-347 885 000.00
0.00
-537 241 692.69
-4 034 000 000.00
0.00
0.00
-38 689 692.64
0.00
-919 631 059.55
1 905 886 779.71
0.00
159 710 737.63
1 743 541 886.92
2 634 155.16
-2 827 304 025.92
0.00
-237 185 000.00
0.00
-1 009 371 675.67
-1 494 140 000.00
0.00
0.00
-86 607 350.25
0.00
-921 417 246.21
-8 991 707.50
8 708 324.90
-8 991 707.50
-3.10
8 708 324.90
0.00
25 806 088.60
17 097 763.70
16 814 381.10
4 749 478.13
25 806 088.60
0.00
. 41 .
. 42 .
ince the beginning of its operations, Plus
GSM has put into practice the rules of
business social responsibility through
participation in important social and economic areas of the public life in Poland.
The Company supports numerous initiatives related
to the culture, science, safety, health and education,
as well as charity actions.
Safety.
Cooperation with TOPR,
GOPR and WOPR
For 5 years, Plus GSM has cooperated with the Volunteer Mountain Rescue Services (GOPR), Volunteer Tatra Rescue Services (TOPR) and Volunteer Water Rescue Services (WOPR). The network is both a sponsor
and the technology partner of the rescue services.
The technology partnership between Plus GSM and
rescue services enabled the introduction of a unique
– in global scale - communication system ensuring
easy and quick contact with rescuers. Thanks to
the system, the effectiveness of rescue actions was
improved and the time of reaching a casualty was
shortened.
During the summer of 2004, WOPR rescuers at the seaside and in the area of Mazurian Lakes answered over
50 000 calls to an emergency number 0 601 100 100
and helped over 2 thousand people. On the area
of activities of GOPR and TOPR rescuers, nearly
20 000 calls to an emergency number 0 601 100
300 were recorded. Mountain rescuers helped over
1500 people.
As a result of positive experience with the execution of the “Integrated Safety System” Project, in
June 2004 the Company, together with the Sopot’s
City Council, launched the Municipal Safety System
which is constantly developed.
Culture
Plus GSM has consistently sponsored cultural events.
The Company has been the Patron of the National Museum for four years already. In 2004, thanks
to the cooperation with the Museum, the inhabitants of Warsaw and Gdańsk were able to visit the
exhibition: “Transalpinum. From Giorgiono and Dürer to Titian and Rubens” showing the collection of
the biggest masters of European painting from the
collections of Kunsthistorisches Museum in Vienna.
Furthermore, Plus GSM became the patron of the
Henryk Wieniawski’s Music Society.
Under a nation-wide cycle: “Plus for Connoisseurs”,
the opening nights of movies of renowned directors of the European film industry were organized
in cinemas across Poland. Plus GSM also supported
. 43 .
an innovative project of transformation of “Bajka”
cinema in Warsaw into a cinema-theater, which became a venue of important artistic events. Under
this project, the Company sponsors numerous plays
and concerts; in 2004 these included, among others,
the “Belfer” monodrama by Wojciech Pszoniak.
Thanks to the support of Plus GSM, a concert tour
of Sistars group was organized and the group published a record. A cycle of music concerts “Jazz in
the Old Town”, sponsored for the seventh time by
the Company, met with a great interest of the audience.
Charity
Since the beginning of its operations, Plus GSM has
provided aid to charity institutions, supporting them
not only financially but also in terms of technology.
Furthermore, every year the Company donates computer equipment to numerous social institutions,
such as orphanages or schools.
Furthermore, the Company attaches great importance to the programs providing aid to the children
and youth. In 2004, Plus GSM continued its cooperation with the Friends of Children Association. This
organization received support in creating family orphanages as well as in organizing workshops and
therapy for the children from pathologic families.
The support provided to handicapped people via
institutions acting on their behalf was an important element of Plus GSM charity activities. Financial support was granted, among others, to the Association in Aid of Handicapped Children and Youth
“Amaria” and the Polish Association in Aid of People
with Mental Handicap.
The network is not indifferent to the problems resulting from the life in a family in which violence is
used. “Non Licent” Foundation in Aid of Victims of
Violence in the Family, Family Aid Movement Foundation, Foundation in Aid of the Right of Children to
Live in a Family are only some of numerous institutions which have received Plus GSM’s financial and
material backing.
Plus GSM also addresses its support to numerous
social aid institutions, orphanages and hospices.
The Company supports important local initiatives,
e.g. renovations of church facilities. Plus GSM is a
technology partner of the “Bank Żywności SOS”
Foundation.
The Company also does not neglect the aid to animals.
Since 7 years, Plus GSM has supported the Seals Shelter on Hel Peninsula which saves seals found on Baltic Sea beaches. Under the cooperation with the Tatra Mountain National Park, thanks to state-of-the-art
technology, the bears living in the Park are monitored.
. 44 .
Healthcare
The cooperation with renowned health care institutions is of particular importance in the pro-social activities of Plus GSM. They include the “Cardiological
Rehabilitation” Foundation executing research and
development programs in the area of the cardiovascular diseases. Plus GSM ensures the transmission
of the results of medical examination based on an
innovative technology of tele-EKG i.e. transferring
of parameters via a mobile phone. The institutions
supported by the network also include institutions
providing aid to people with hearing deficiency. For
many years the Company has cooperated, among
others, with the Hearing Physiology and Pathology Institute. Thanks to the support provided to the
“Communication without barriers” Foundation, the
Children Hematology and Oncology Clinic of Gdańsk
Medical Academy is currently build.
Plus GSM has started the cooperation with POLSAT
Foundation – supporting the Infant Intensive Therapy and Pathology Clinic in the “Child’s Health Center” Institute as well as a project of saving life of children with tumor diseases.
The Military Medical Institute received from Plus
GSM a significant contribution to the execution of
the project concerning the application of DNA expressive micro-matrices technology in the experimental and clinical oncology. Furthermore, the network supports numerous medical institutions both
in organizing necessary renovations and in functioning of many hospital’s departments. Mazovian
Children and Youth Neuropsychiatry and Rehabilitation Center in Zagórze near Warsaw and the Child’s
Neuropsychiatry Hospital in Józefów are subsequent
examples of institutions supported by Plus GSM mobile telephony network.
Furthermore, Plus GSM participated in the charity
actions based on SMS’s conducted through the television. Under the cooperation with the Cardiosurgery Development Foundation an SMS service ensures aid of Constructing of Polish Artificial Heart.
For many years, Plus GSM has also actively participated in organizing the Final of the Great Christmas
Aid Orchestra (WOŚP), supporting the biddings.
Technology Congress
On 5 October 2004, the Technology Congress organized for the third time by Polkomtel S.A. took place
in the Palace of Culture and Science in Warsaw. Professor Marek Belka, Prime Minister, was the Honorary Patron of last year’s edition, whereas Arun Sarin, the CEO of Vodafone Group plc was its Special
Guest. Leading Polish data communication companies were the partners of Polkomtel S.A.
Thanks to its broad formula, the Technology Congress has an important educational function for the
Polish market. Application of state-of-the-art solutions in the area of data communications by the enterprises is another step towards creation of the Information Society in our country. The Congress is
. 45 .
a unique event in the world of Polish business. Each
edition attracts senior managers of the biggest
Polish enterprises, as well as owners and representatives of small and medium enterprises.
The plays with the participation of the Polish Team
had very large audience (the match against Brazil
during the Olympic Games attracted as many as 4.5
million viewers).
During the 3rd Technology Congress, numerous seminars devoted to the convergence of telecommunications and information technology service, mobile en-
Plus GSM continued the cooperation with the Polish
Volleyball League supporting organization of 1st
Men’s League games. The fourth year in a row, Plus
GSM sponsored the cycle of tournaments under
Polish Championships in Women’s Beach Volleyball Simplus Cup 2004.
terprise management, challenges of Third Generation
and its communication took place. The Congress was
also the venue of premiere shows of products, services and comprehensive data communication solutions
optimizing the management processes.
Additionally, during the 3rd Technology Congress, the
“Enterprise Plus Technology” Contest, organized by
Polkomtel S.A., was resolved. Most interesting solutions in the area of data communications, which were
introduced in the years 2003 – 2004 in the enterprises in cooperation with Plus GSM, were awarded.
Sport
The year 2004 was another year of execution of a
4-year sponsorship agreement concerning the Polish
Volleyball Men’s Team. The cooperation started in 1999
assumed its crowning achievement during the Olympic Games in Athens. The Polish Team not only qualified to the tournament as the only Polish representative in team games, but also won a very good fifth
place. At the same time our Team improved its position in FIVB ranking – moving from 18th to 7th position.
The network has sponsored the Tour de Pologne cycling race for seven years already. This is one of the
biggest regular sport events in Poland, attracting
world’s leading sportsmen.
Since 2000, Plus GSM has cooperated with Polonia Warszawa Chess Club, sponsoring the 1st league
chess team. The Polish Chess Championship as well
as participation of Polonia Warszawa Chess Club in
the Club Europe Cup confirmed that Poles are among
the best chess players in Europe.
Plus GSM also became involved in the sponsorship
of tennis, supporting numerous tennis tournaments,
including those in ATP ranking: ATP PKO Open and
ATP Tour Porsche Open. A great importance is attached to the development of this discipline among
the youngest. In 2004, Plus GSM became the patron
of a cycle of children tournaments, sponsoring, among
others: KIDS’ Cup and the Tennis Summer Cup.
. 46 .
. 47 .
wards and distinctions
of Polkomtel S.A.
received in 2004.
February
. A special “Alice” award of "Twój Styl” monthly gran-
January
ted to the Coalition for Direct Debit payments which
is created, among others, by Plus GSM.
. A “Virtual Handset” Statuette for the Event of the
. An award for the Vice President of the Management
Board of Polkomtel S.A., Mirosław Bielicki, granted by
Sybase for a strategic application of database and integration solutions of Sybase in the key systems of
the Company. People who supervised the execution
of the most interesting IT projects with the use of Sybase technology were honored with a statuette.
. A distinction granted to Plus GSM in the category of
Multi-chart Calendar for a calendar “Words and pictures” from the Jury of the 15th National Calendar
Review VIDICAL2004.
. Polkomtel S.A. became a leader of the top-500 list
in the infrastructure sector prepared by “Nowe Życie
Gospodarcze” magazine.
.
Year 2003 for Polkomtel S.A. for an “Integrated Rescue System” granted by the Mobile Internet Magazine.
Polkomtel S.A. received the title of the Patron of Culture and a “Golden Dot 2003” for the sponsorship
activities in the area of culture and art as well as
for charity actions in Lublin Region granted by the
“Dziennik Wschodni” daily.
March
. Plus GSM became the Szczecin’s Patron of Culture in
the category "The biggest financial contribution to
cultural and artistic events and undertakings related to Szczecin”.
. 1st place in the contest for “Infotel’s Laurel” in the
. Title of the Sport Sponsor of the Year 2003 for Polkomtel S.A., awarded during an official gala summarizing 42nd Plebiscite of “Kurier Lubelski” daily for
the best and most popular Sportsman of Lublin Region in 2003.
“Service” category for an Integrated Rescue System.
. “Golden Antenna” award granted by “Świat Telekomunikacji” in the category “Service of the Year” for
Plus GSM’s Integrated Rescue System.
. 48 .
April
September
. “Best Investor of Rzeczpospolita” award for Polkom-
. 3rd place of Polkomtel S.A. in the ranking: “Great
tel S.A. in the “Top 500” ranking of “Rzeczpospolita”
daily.
Pearls of the Polish Economy” in the category “Big
Companies”, organized by the Institute of Economic
Sciences of PAN together with “Parkiet” and “Polish
Market”.
May
. 1st place in the category: “Most effective Infrastructure Enterprise of 2003” in the ranking prepared by
the Institute of Economic Sciences of the Polish Academy of Science in cooperation with the Center for
Social and Economic Information of the Ministry of
Economy.
October
. Medal for services to KST for Polkomtel S.A. granted
during 20th National Telecommunications Symposium in Bydgoszcz.
. The title of the “Enterprise with the best IT Infrastru. “Wprost 2004” Telecommunications Certificate granted to Polkomtel S.A. for “MMS Photo card” Project.
. 2nd place of Polkomtel S.A. in the 8th edition of the
Businessman Magazine’s ranking: “Top 100 most valuable private companies by market value – 2003”.
June
. 3rd place in the ranking of IT companies in 2003: Com-
cture” in the category of “Telecommunications” granted by Teleinfo.
December
. The title of “Individuality of the Year– Mercury 2004”
in the category of “Manager” granted to Mr. Robert
Krawczyk, Management Board Member, Sales and
Marketing Director of Polkomtel S.A. by “Rynki Zagraniczne”.
puterworld TOP 2004.
August
. The title of “Solid Employer 2004” granted in recogni-
. Plus GSM was qualified to a group of Superbrands
tion of merits in the area of human resources management by the “Economy Review”, a promotional and
information supplement to “Gazeta Prawna”.
Poland as one of the strongest brands on the Polish
market.
. An award of Golden Eagles 2004 in the category “Interactive –WWW Service” for a portal of Xyber Mech
game.
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cover
Portrait of Lorenzo Gustinini
Gentile Bellini . last quarter 15th c. ~ early 16th c.
str. 3
King David Harping and Singing the Psalms with Angels
Hendirck ter Brugghen . 1628
str. 7
Adam and Eve
Albrecht Dürer . 1504
str. 8
Art and Practice
Hendrick Goltzius . 1582
str. 15
The Seven Works of Mercy
Pieter Aertse . 1575
str. 16
View of the Tiber from the South - Ripa Grande with Panorama of Rome in the Background
Isaac de Moucheron . c. 1696
str. 22
St Peter in Prayer
Matthias Stom . between 1633 ~ 1640
str. 24
L’Europe divisée suivant d’estendüe de ses principaux estats [...]
map in the atlas: Atlas nouveau contenant toutes les parties du monde [...]
Paris: Alexis-Hubert Jaillot, Nicolas Sanson d’Abbeville . 1681
str. 30
Portrait of a Girl as Diana
Abraham van den Tempel . 1669
str. 35
The St Reinhold Altarpiece (part)
Joos van Cleve . 1515 ~ 1516
str. 41
Boy with a Troch
Jan Lievens . c. 1625
str. 46
Adam and Eve
Lucas Cranach the Elder . c. 1510
Polkomtel S.A. . 02-001 Warsaw . Aleje Jerozolimskie 81 . phone: (+48 22) 426 10 00
. Customer Service Office - phone: (+48 22) 426 16 01 . Commercial Information - phone: 0 801 400 601 . www.plusgsm.pl
Design & Layout: © 2005 OCHOTNY.COM . Printed by: BMG-ZESPÓŁ Sp. z o.o.