TEO H1 sales drop 5.3%

17 Jul 2013

Lithuania’s incumbent fixed line operator TEO LT has reported revenue of LTL177.8 million (USD67.2 million) for the second quarter of 2013, down 6.5% from LTL190.2 million in the year-ago period. Six-month revenue dropped 5.3% year-on-year to LTL360.5 million, as sales from voice telephony services fell 11.8% to LTL158 million over the period. Areas of growth included internet service revenue, which rose 5.1% from LTL84 million in H1 2012 to LTL89 million in the same period a year later, while TV services grew 10.7% year-on-year to LTL31 million in the first half of 2013. TEO said that underlying revenue (excluding a one-off IT equipment sale in 2012) increased 2.7% year-on-year. EBITDA fell 6.0% in Q2 2013 and 3.1% in 1H13, to LTL75.1 million and LTL149.6 million, respectively, while net profit declined 9.2% year-on-year to LTL37.4 million in the three months ended 30 June 2013 and fell 3.4% to LTL75.6 million in the six-month period. TEO made capital investments of LTL45 million in the first half of 2013, of which LTL16 million went towards the expansion of TEO’s fibre-to-the-home (FTTH) access network, which is present in more than 100 towns and cities across the country, passing around 65% of households as at 30 June 2013.

TEO reported a broadband internet subscriber base of 394,123 at 30 June 2013 (an increase of 4.5% from 377,045 twelve months earlier), including 168,955 FTTx customers (up 12.0% year-on-year) and 179,955 xDSL subscribers (down 5.2%). Television customers increased 8.9% over the twelve-month period to reach 170,219 at mid-2013 (including 99,832 IPTV users – up 17.4% year-on-year), while the total number of main telephone lines in service at the end of Q2 2013 amounted to 584,7665, a decrease of 6.5% from 625,671 a year earlier.

Lithuania, Telia Lietuva