Bite Latvia revenue climbs 26%, Lithuania down 2%

27 Feb 2013

Lithuanian telecoms group Bite, which provides mobile services in Latvia as well as its domestic market, has announced it generated revenue and other income of EUR184.8 million (USD241.5 million) in the twelve months ended 31 December 2012, an increase of 6% from EUR174.4 million in the year-ago period. The company said that adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) totalled EUR50.6 million in 2012, an increase of 12% from EUR45.1 million twelve months earlier. In Lithuania, mobile operator Bite Lietuva reported annual service revenue of EUR135.1 million, compared to EUR138.0 million in 2011, partly due to interconnect rate reductions and pricing pressure in the market, while adjusted EBITDA in its domestic market decreased 2% year-on-year to EUR41.3 million. On the other hand, Bite Latvia’s EBITDA climbed from EUR2.8 million in 2011 to EUR7.4 million twelve months later, while service revenue jumped 26% year-on-year to EUR59.1 million in full-year 2012.

Latvia, Lithuania, Bite Latvia, Bite Lithuania