TEO posts 4.5% y-o-y fall in Q3 revenue

17 Oct 2013

TEO LT, the incumbent fixed line operator in Lithuania, has reported revenue of LTL181.3 million (USD70.8 million) for the three months ended 30 September 2013, a decrease of 4.5% from LTL189.8 million in the year-ago period. Nine-month revenue dropped 5.0% year-on-year to LTL541.8 million, as sales from voice telephony services fell 13.4% to LTL233 million over the period. Areas of growth included internet service revenue, which rose 4.1% year-on-year to LTL133 million in 9M 2013, while TV and IT services revenues increased 10.0% to LTL46 million and 9.1% to LTL51 million, respectively. TEO said that EBITDA for the third quarter of 2013 fell 4.7% year-on-year to LTL78.1 million, and declined by 3.6% from LTL236.2 million in 9M 2012 to LTL227.6 million twelve months later. Net profit declined 5.9% year-on-year to LTL42.6 million in the three months ended 30 September 2013 and fell 4.3% to LTL118.2 million in the nine-month period. TEO made capital investments of LTL82 million in the first nine months of 2013, of which LTL33 million went towards the expansion of its fibre-to-the-home (FTTH) access network, which is present in more than 100 towns and cities across the country, passing around 66% of households (790,000) by the end of Q3 2013.

TEO reported a broadband internet subscriber base of 418,259 at 30 September 2013 (an increase of 9.8% from 380,824 twelve months earlier), including 173,259 FTTx customers (up 11.4% year-on-year) and 178,462 xDSL subscribers (down 4.3%). Television customers increased 5.6% over the twelve-month period to reach 171,041 at the end of 3Q13 (including 102,658 IPTV users – up 15.2% year-on-year), while the total number of main telephone lines in service at the end of Q3 2013 amounted to 575,778, a decrease of 6.5% from 615,807 a year earlier.

Lithuania, Telia Lietuva