TEO posts slight decrease in Q1 2009 revenues, EBITDA

21 Apr 2009

Lithuanian incumbent telco TEO LT has posted consolidated revenue of LTL205.2 million (USD77.01 million) for the first quarter of 2009, down 1.1% year-on-year from LTL207.6 million in 2008. The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) declined by 1.3% to LTL94 million in the first three months of 2009, compared to LTL95.2 million in the same period a year earlier. Furthermore, net profit for the period decreased by 3.9% to LTL43.5 million, down from LTL45.2 million in Q1 2009. During the period TEO invested LTL16.4 million, LTL13 million of which was spent on developing its broadband network (including the deployment of fibre-to-the-home) and the remainder on its backbone network. Arunas Siksta, general manager of TEO, commented: ‘Despite general economic downturn, TEO results for the first quarter 2009 are excellent. Excluding revenues from non-recurring items at the beginning of last year, the company maintained its revenues for the first quarter.’

Meanwhile, TEO’s fixed lines in service amounted to 756,300 at 31 March 2009, while broadband subscribers reached 304,700, adding 6,600 during the quarter. The number of customers using TEO’s pay-TV services increased by 12,700 to total 79,400 at the end of the first quarter of 2009. The company reached 45,215 subscribers for its IPTV service ‘Interactive Gala’ during the same period, adding 4,900 customers in the quarter.

Lithuania, Telia Lietuva