Bite posts 9% decline in Q1 revenue

7 May 2014

Lithuanian telecoms group Bite, which provides mobile services in Latvia as well as its domestic market, has reported group revenue and other income of EUR40.3 million (USD56.0 million) for the three months ended 31 March 2014, a decrease of 9% from EUR44.1 million in the year-ago quarter, driven by a drop in interconnection rates. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) totalled EUR10.5 million in Q1 2014, down 16% from EUR12.6 million the previous year. In Lithuania, mobile operator Bite Lietuva reported revenue and other income of EUR26.6 million in the first three months of 2014, compared to EUR30.4 million twelve months earlier, while adjusted EBITDA in the group’s domestic market decreased 19% year-on-year to EUR7.5 million. Meanwhile, Bite Latvia’s revenue dropped by around 8% year-on-year to EUR14.6 million and EBITDA fell 7% to reach EUR2.7 million in the first quarter of 2014.

Bite noted that its post-paid subscriber base in Lithuania increased by 5% year-on-year, due to new rate plans introduced in the last quarter of 2013, while 3G territory coverage was increased to 87%. In Latvia, mobile contract customers rose 17% from the year-ago quarter.

Latvia, Lithuania, Bite Latvia, Bite Lithuania