Cordiant Digital Infrastructure Ltd (LSE:CORD)’s Polish portfolio company Emitel has won a nationwide tender to extend digital broadcast coverage to 17 regional radio stations for Polskie Radio, the national broadcaster.
Under the agreement, Emitel will extend existing DAB+ digital audio signal coverage from 67% of Polish households to 88%.
This contract is a continuation of an existing contract held by Emitel and will result in further investments in the expansion of DAB+ coverage which are expected to lead to incremental extra revenues for Emitel.
The contract is scheduled to run until the third quarter of 2027 with a gross value of 59.5 million Polish zloty (£11.6 million). Revenues are index-linked to inflation.
Andrzej Kozłowski, chief executive of Emitel, commented: "We are proud that it is Emitel that will implement the next stage of expanding DAB+ coverage for Polskie Radio and regional radio stations.
“Digital radio offers the best sound quality, the possibility of broadcasting more channels, and additional features such as the transmission of graphics or text, which can be displayed on a DAB+ receiver in the car or at home."
Steven Marshall, chairman of the supervisory board of Emitel and co-founder of Cordiant Digital Infrastructure, added: "We are delighted with this contract win by Emitel with a blue-chip customer.
“As a result, the company will play a key part in building out Poland's DAB+ radio infrastructure and expects to earn incremental, index-linked revenues for the duration of the contract.
“Wins such as this validate our Buy, Build & Grow model and create real value for our shareholders."
Polskie Radio is the largest DAB+ radio broadcaster in Poland, operating a large number of radio stations including Radio Poland national and regional services.
It also broadcasts in English, German and Ukrainian.