TEO posts fall in FY09 revenue, EBITDA; net profit up 5.7%

10 Feb 2010

Lithuania’s incumbent fixed line operator TEO LT has reported its results for the year ended 31 December 2009, posting consolidated net revenue of LTL816 million (USD324.8 million), down 1.3% compared to 2008. The group’s turnover for 4Q09 declined 5.8% year-on-year to LTL197.9 million. Full year 2009 earnings before interest, tax, depreciation and amortisation (EBITDA) totalled LTL338 million, down from the LTL349 million recorded a year earlier, while EBITDA for the fourth quarter of 2009 dropped 22% year-on-year to LTL58.76 million. However, TEO’s net profit for 2009 increased 5.7% compared to a year earlier to reach LTL169 million and 4Q09 net profit rose 14.5% year-on-year to total LTL34.8 million.

At 31 December 2009 TEO’s broadband customer base topped 313,449 (up by 15,369 compared to 2008), including 226,484 DSL subscribers (down by over 22,000 year-on-year) and 62,475 fibre-optic connections (more than double the 23,947 at end-2008). Revenue from internet and data communication services amounted to almost 33.8% of the company’s total turnover. Fixed telephony customers continued their downward trend, falling from 768,000 in 2008 to 722,000 a year later, while revenue generated from this segment amounted to 56.5% of the company’s total. During 2009 TEO’s IPTV customers increased 38.6% to reach 55,915 at year-end, while DVB-T users rose by around 20,000 to total 46,454. The pay TV segment contributed 3.4% of TEO’s revenue for 2009. In 2010 TEO will focus on further development of its next generation network and will continue its revenue diversification, while quality of service and cost control will also remain two of the group’s top priorities.

Lithuania, Telia Lietuva