Bite group Q3 revenues down 8.8%

25 Oct 2013

Lithuanian telecoms group Bite, which provides mobile services in Latvia as well as its domestic market, has announced its financial results for the three months ended 30 September 2013, reporting group revenue and other income of EUR44.6 million (USD61.4 million), a decrease of 8.8% from EUR48.9 million in the year-ago quarter. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell slightly from EUR14.7 million in Q3 2012 to EUR14.5 million in the same quarter of 2013. In Lithuania, mobile operator Bite Lietuva reported revenue and other income of EUR31.5 million in the three months to end-September 2013, down 10.8% year-on-year from EUR35.3 million, while adjusted EBITDA in the group’s domestic market decreased 1.1% from EUR11.3 million to EUR11.1 million over the same period. Meanwhile, Bite Latvia’s EBITDA dropped by around EUR200,000 to EUR2.8 million, with revenue totalling EUR15.1 million in Q3 2013, compared to EUR16.2 million in the year-ago quarter.

Commenting on the results, Bite CEO Fred Hrenchuk, said: ‘Our post-paid customer base increased by 2% in Lithuania and 16% in Latvia in a very competitive market in both countries. Bite adjusted EBITDA for Q3 2013 decreased slightly to EUR14.5 million, however, adjusted EBITDA for nine months of 2013 increased by 1.2% to EUR40 million.

Lithuania, Bite Latvia, Bite Lithuania