Bite FY group revenue slides 4.7%

28 Feb 2014

Lithuanian telecoms group Bite, which provides mobile services in Latvia as well as its domestic market, has announced its financial results for the twelve months ended 31 December 2013. The company reported that group revenue and other income – affected by falling interconnection rates – declined 4.7% to EUR176.1 million (USD240.9 million) from EUR184.8 million in 2012. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) totalled EUR48.5 million in 2013, down 4.2% from EUR50.6 million the previous year. In Lithuania, mobile operator Bite Lietuva reported revenue and other income of EUR123.8 million in full year 2013, compared to EUR135.1 million twelve months earlier, while adjusted EBITDA in the group’s domestic market decreased 9.4% year-on-year to EUR37.4 million. Meanwhile, Bite Latvia’s revenue rose by around 1% in 2013 to EUR60.0 million and EBITDA climbed 35% year-on-year to reach EUR10.0 million.

At 31 December 2013 Bite’s Lithuanian mobile subscriber base totalled 940,901 (down from 961,284 twelve months earlier), of which 520,348 were post-paid customers (Q4 2012: 500,053). In Latvia, wireless customers reached 452,328 (up slightly from 444,774 at end-2012), including 329,164 post-paid users (286,665).

Latvia, Lithuania, Bite Latvia, Bite Lithuania