On 9 February 2010, the Board of TEO LT, AB (hereinafter - “TEO” or “the
Company”) approved unaudited TEO LT, AB Consolidated Interim Financial
Statements, prepared according to International Financial Reporting Standards
as adopted by the European Union, for the twelve months period ended 31
December 2009.
The total consolidated TEO Group's revenue for the twelve months of 2009 was
LTL 816 million (EUR 236 million), a decline by 1.3 per cent over the total
revenue of LTL 826 million (EUR 239 million) for the twelve months of 2008.
EBITDA for the twelve months of 2009 decreased by 3.1 per cent to LTL 338
million (EUR 98 million) over LTL 349 million (EUR 101 million) for the twelve
months of 2008. EBITDA margin was 41.5 per cent (42.2 per cent in 2008).
Profit before income tax for the twelve months of 2009 was up by 4.4 per cent
and amounted to LTL 198 million (EUR 57 million) (LTL 190 million (EUR 55
million) a year ago).
Profit for the period amounted to LTL 169 million (EUR 49 million), an increase
by 5.7 per cent over LTL 160 million (EUR 46 million) a year ago. Over the
year, the profit margin increased from 19.4 per cent to 20.7 per cent.
Management's comment on financial results for the twelve months of 2009:
“The Company continued to provide good result despite harsh economic climate.
In order to build its business value TEO heavily invested in next generation
FTTH network. This strategy proved to be successful. Alongside with efficient
costs saving this allowed the company to maintain its profitability. In 2009,
TEO reached two important milestones - the number of its broadband customers
exceeded 300 thousand, while the number of TV customers - 100 thousand. This
solid customer base provides good opportunities for diversification of the
Company's revenue.
In 2010, TEO will focus on further development of its next generation network
and will continue its revenue diversification. Quality of service and cost
control will remain on our Company's list of top priorities. With its rapidly
expanding digital terrestrial television services, TEO will contribute to
Lithuania's transition from analogue to digital television broadcasting”.
ENCL.:
- TEO LT, AB Consolidated Interim Financial Statements for the twelve months
period ended 31 December 2009.
- Presentation of TEO LT, AB results for the 12 months of 2009
- Video comment of CEO of TEO LT, AB
Darius Džiaugys,
Head of Information Sector,
tel. +370 5 236 78 78
