Bite reports 3% decline in group revenue

5 Mar 2015

Lithuanian telecoms group Bite, which provides mobile services in Latvia as well as its domestic market, has reported revenue of EUR170.1 million (USD189.4 million) for the twelve months ended 31 December 2014, a decline of 3.3% from EUR176.0 million the previous year. EBITDA totalled EUR48.1 million, down from EUR48.5 million in 2013. In Lithuania, revenue dropped 4% year-on-year to EUR118.4 million in the twelve-month period, compared to EUR123.8 million a year earlier, while EBITDA in the group’s domestic market fell 9% to EUR34.2 million. Meanwhile, Bite Latvia’s revenue rose by 1.3% year-on-year to EUR60.8 million and EBITDA grew around 28% to reach EUR12.7 million in 2014.

Last year Bite began the deployment of an LTE-Advanced (LTE-A) network in Lithuania. Services will be launched in the cities of Vilnius, Kaunas, Klaipeda, Siauliai and Panevezys from spring 2015, enabling customers to access the internet at data rates of up to 300Mbps.

Latvia, Lithuania, Bite Latvia, Bite Lithuania