Orange Polska Sa

Good morning, ladies and gentlemen. Welcome everyone on our conference summarizing fourth quarter and full year 2021. This morning, I will be supported by Jacek, our CFO, Yola in charge of consumer unit, and Bozena for the B2B unit. Let's start on slide five. In 2021, we presented our new mid-term strategy. We told you that we want to go beyond and reach for more, both commercially and internally as an organization. In those terms, the first year of DotGrow was very successful for Orange Polska for many reasons. Commercial results were very solid in most areas. We promise that we will grow as a business and 2021 proves that we deliver on that front. We are especially pleased with the result of fiber, which enjoys unflagging popularity among customers. Orange Posca is the biggest Polish fiber provider. Fiber and our value strategy drove average revenue per offer, which delivered growth in all our key services. We are growing on the B2B market with a boost in the ICT area that is particularly worth noticing, with strong results from our subsidiaries that we have acquired in the past two years. Once again, past investments bear their fruits. Financial results were strong across the board. We met all our commitments. We executed on the FiberCo project, which not only our landmark achievement last year, but also a key development for our successful growth in the future and a driver to tackle digital exclusion in Poland. We also continue to prepare the future, boosting digital and people potential. This entails also changing our work model. We have reached consensus with our social partner regarding further employment adaptation. It will contribute to our further transformation and efficiency increase. So in a nutshell, last year performance was the first and very strong step on our way to implement dot grow strategy. Let's look at financial highlight on the next slide. In 2021, we deliver all On all our financial commitment, revenue increased by 3.6% with all key lines of business contributing to the growth. In H2, dynamics was affected by regulatory impact. Growing retail revenue fueled almost 6% EBITDA growth. We achieved the high end of our guidance. Please note that we are reporting growth of our operating profitability for the first consecutive year. Since 2018, we increased our EBITDA as much as 13% despite the pandemic challenges. This shows that we are consistent in delivering growth, our business is predictable and defensive. and we have good prospects ahead of us in the long term capitalizing on our assets, services, and experience, even if short-term outlook is impacted by energy crisis. Economic CapEx in 2021 was in line with the guidance and already benefited from the FibreCo joint venture. Going on the next slide. Let's look at our key achievements in all four pillars of our dot-grow strategy. Starting with our core business. As you can see from the data, our core business is strong. Yola and Bojena will focus more on this for their respective markets. Execution of the FiberCo project was a truly exceptional achievement. We did this to secure further expansion of fiber footprint and to take advantage of the high valuation of infrastructure assets on the market. As a result, we are able to seamlessly continue increasing fiber reach and executing other projects that are important for our future, mainly in the mobile arena. In addition, investment made by FABECO will significantly contribute to the development of digital infrastructure of the country and to combat digital exclusion. In new opportunities, we are betting on solutions for the future today. This is why we have launched a new data hub on the outskirts of Varshow with space for our new network needs and co-location for our corporate customers. We are active in the area of campus network with unique experience in this scope on the Polish market, but the key to unlock this potential is obtaining 5G spectrum license. As such, we are creating full value chain to help Polish company in their digital transformation journey and grow with them using technology as a trigger for the economy. Cloudification is one of our top strategic priorities. We not only provide cloud-based solutions for our business clients, we are becoming a more cloud-based company too. We have partnered with Google and launched Orange Cloud 2025 program. It entails migrating our processes to the cloud and those help us to enhance our internal operations and gain additional expertise in this area. Becoming more digital as a company is a key part of our transformation. We believe it will allow us to compete more effectively and increase our efficiency. In 2021, we established a new unit in our organization dedicated to digital reporting to me. We concentrate our growing usage of my orange apps and increasing online sales. To me, it's obvious that our growth has to be sustainable and responsible. I'm proud to say that in 2021, we accelerated with CO2 emission reduction, which I will comment more in a moment. We continue with our social program, aim at fostering digital skills, focusing on children and teacher, which is critical in the remote schooling reality. Last but not least, I need to mention that our future success will depend on our capability to grow, develop and retain our employees and provide a diversified environment. We are continuing cultural transformation at Orange Polska, bringing new talent on board and encouraging our people to grow and rescale. We are working to be a smarter workplace, able to better adapt to the challenges ahead. We have developed a balanced hybrid work model. It ensures safety, mobility, collaboration, and the much needed human touch. Let's go to the next page, eight. Our climate policy aims at becoming a net zero carbon by 2040, with a key milestone to reduce CO2 emission by 65% by 2025 versus 2015. Last year, we reduced our CO2 emissions by 9%, which was an acceleration versus previous year. For the first time, this reduction resulted from including clean energy from wind farm in our mix. At the end of last year, we signed a second PPA contract that will secure an additional 20% of our consumption from 2024. This will make renewable energy a key contributor for us to achieve our 2025 objective. We are intensively working to sign new PPA project, which is also very important in the context of ongoing energy crisis. We further optimize our energy consumption despite more than 20% growth of data consumption. In this context, it's worth to mention again the new data center which is super energy efficient. Thanks to this solution, we can avoid 5,000 CO2 emissions annually. Let me mention here that we are fully transparent with our ambition and action to the climate and enhance our disclosure related to climate. For the first time in our annual report, we integrated climate related issue. We use an internationally recognized standard to make it as clear and open as possible. Let me now hand the floor to Yola and Bojena to comment on our commercial progress in B2C and B2B.

Ladies and gentlemen, please stand on the line. We will just be reconnecting with the host shortly.

Thank you, Julien. Good morning, everyone. Let me walk you through our last year achievements in our key telecom services that, as Julien mentioned, performed so well in 2021. No surprisingly, we will start with convergence, which is our key commercial engine in our household strategy. Last year, convergence revenue growth accelerated to 15%. This was a result of both growth of customer base and strong growth of ARPO. Customer base increased by further 5% last year. Consumers continue to be attracted by our simple and attractive offer. Growth of our fibre footprint is especially important. Copper and fixed wireless broadband are losing to fibre both ours and competitors. Average revenue we generated from one convergent offer is increasing. Last year it grew 6%. It results from our more-for-more strategy and growing share of fiber and convergent customer base. Fiber gives us higher revenue because of three main reasons. It generates more demand for content, popularity of higher speed is increasing, the number of fiber customers that live in single-family houses is growing, where extra fee applies to cover higher construction costs. Whenever we combine fibre and mobile in a convergent offer, we benefit from increased customer loyalty and ability to upsell additional services. Presenting DotGrow strategy, we set clear targets for growth of customers. We aim at growing our ARPO and revenue in convergence. We confirm that fully after 2021 results. Switching now to the fiber on the next slide. As I just mentioned, fibre is a key driving force for performance in convergence, both in value and volume terms. Our fibre services are available already to almost 6 million households. That is 40% of all homes in Poland, in more than 200 cities. Today, Orange is the biggest Polish fibre provider. Our fibre footprint increased by more than 900,000 households in 2021. From the second half of the year, when we launched FiberCo project, our reach is growing mainly from wholesale partnerships, Światłowódz Inwestycje and many others. We bet on convergence many years ago when it wasn't the market trend and now we are ahead of our competitors. Today they are turning to convergence for growth. Even the ones that not long ago were saying that this is not how they see their future. Today the home has become the new frontier. This became clearer than ever in 2020. Our homes became our offices and schools. The pandemic is hopefully receding, but the changes that it generated will be with us for the long term. This is why we are focusing our B2C value proposal on the homes. Our own build is concentrated now on rolling our network in Digital Poland program, where we expect majority of works to be done by the end of this year. At the same time, we have decided to actively open our network to wholesale. This is part of our strategy aimed at maximizing monetization of this infrastructure. We doubled the number of wholesale fibre customers in 2021. Last year was a record year for our fibre in retail. We added 220,000 customers thanks to very strong year end. As a result, adding retail and wholesale, we reached a milestone 1 million customers who enjoy fibre thanks to Orange. Switching to mobile on page 12. In mobile, we combine steady pace of customer base growth with ARPO recovery. In 2021, our customer base increased by another 4%. It grows consistently every year. This is a strong performance given that the Polish market is matured and very competitive. According to our estimates, we increased our share in the market. There are few drivers for this performance. On the mass market the main Orange brand is complemented by B brand New Mobile and Digital Offer Flex. Every year B2B is also a strong contributor which will be commented by Bożena in a moment. It is worth mentioning that in 2021 Orange was the first choice operator in mobile number portability. Importantly, our customer base growth is not at the cost of ARPO. The ARPO trend is improving. Mobile-only ARPO was up 1% in 2021. It was flat, excluding roaming. Roaming partially recovered after a steep decline in 2020, obviously related to the pandemic. ARPO is being supported by monetization of our value strategy. Let me remind that last year we made another tariff increase on the consumer market. In return, we offer consumers additional benefits. It was reflected in ARPO of the main orange brand which increased 4% last year. Thanks to combination of better ARPO and steady growth of customer volumes, our revenue from mobile-only services increased by 3%. Thank you and I hand the floor now to Bożena.