TEO LT, AB Group, an integrated telecommunication, IT and TV services provider,
announces its unaudited Consolidated Interim Financial Statements for the
twelve months of 2008, prepared according to International Financial Reporting
Standards as adopted by the European Union.
The total consolidated TEO Group's revenue for the twelve months of 2008 was
LTL 826 million (EUR 239 million), an increase by 4.1 per cent over the total
revenue of LTL 793 million (EUR 230 million) for the twelve months of 2007.
EBITDA for the twelve months of 2008 went down by 0.9 per cent to LTL 349
million (EUR 101 million) over LTL 352 million (EUR 102 million) for the twelve
months of 2007. EBITDA margin stood at 42.2 per cent (44.4 per cent in 2007).
Profit before income tax for the twelve months of 2008 went down by 3.4 per
cent and amounted to LTL 190 million (EUR 55 million). Profit before income tax
in 2007 amounted to LTL 196 million (EUR 57 million).
Profit for the period amounted to LTL 160 million (EUR 46 million), a decrease
by 1.8 per cent over LTL 163 million (EUR 47 million) a year ago.
Arūnas Šikšta, General Manager of TEO LT, AB, has made the following comments
on results for the twelve months of 2008:
“The Company's results for 2008 are very good. The financial result is better
than planned, despite the slightly negative impact on revenues as a result of
increased regulation in the network interconnection services market, inflation
and increased energy costs. The Company achieved a record increase in the
number of customers using digital terrestrial television and interactive
television services and successfully retained the share of the market of
Internet and data communications services.
This year we will focus on development of the fiber-optic network and
improvement of the quality of services. We plan to actively increase the number
of digital terrestrial television service users. Taking into account the market
and economic situation, which will have an impact on our revenue growth, and
the increasing regulation of the telecommunications sector, we will continue a
complex reduction of our operating costs”.
ENCL.:
- TEO LT, AB Interim Consolidated Financial Statements for the twelve
months of 2008.
- Video comment by CEO of TEO LT, AB
Jan-Erik Elsérius,
Chief Financial Officer and Deputy General Manager,
tel. +370 5 236 76 03
