The 2012 revenue of the Midas Group almost tripled compared to the previous year’s result, reaching nearly PLN 90 million. This resulted from a sharp increase in the popularity of mobile internet in Poland, followed by demand for data transfer. Monthly data usage in the Midas network is now at over GB 1 million, and in December alone it reached nearly GB 1.5 million.
In accordance with the strategy of Midas S.A., the Group’s goal is to establish a state-of-the-art broadband LTE/HSPA+ internet access provider in Poland with its own telecommunications infrastructure. As at the end of the year, the number of base stations exceeded 2,200. This figure aligns with earlier assumptions, and the network continues to grow rapidly. Further expansion plans anticipate that by mid-2014 (i.e. at the end of the second phase of network expansion), the Midas Group will have a total of over 4,000 base stations. For the next stage, the Company is considering carrying out phase 3 of its network expansion. Implementing this plan will ensure that 66 per cent of the Polish population is covered by the LTE network and almost 100 per cent by the HSPA+ network.
Last year, Midas procured financing for the proposed network roll-out. In order to carry out phase 2 of its expansion, the Company will use its own funds and debt financing through a loan from Alior Bank. The Company will also issue bonds for a total value of up to PLN 200 million.