On 19 April 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 three months period ended 31 March
2010.
The total consolidated TEO Group's revenue in January-March of 2010 was LTL 192
million (EUR 56 million), a decrease by 6.4 per cent over the total revenue of
LTL 205 million (EUR 59 million) in the first three months of 2009.
EBITDA for the first three months of 2010 went down by 13.4 per cent to LTL 81
million (EUR 24 million) over LTL 94 million (EUR 27 million) in the first
three months of 2009. EBITDA margin amounted to 42.4 per cent (45.8 per cent in
2009).
Profit before income tax in the first three months of 2010 was down by 14.9 per
cent and amounted to LTL 49 million (EUR 14 million) (LTL 58 million (EUR 17
million) a year ago).
Profit for the period amounted to LTL 43 million (EUR 12.5 million) and was
almost the same as a year ago, a slight decline by 1 per cent over LTL 43.5
million (EUR 12.6 million). Over the year, the profit margin slightly increased
from 21.2 per cent to 22.4 per cent.
Management's comment on financial results for the three months of 2010:
“Despite the general telecommunications market contraction, TEO produced strong
results. Although revenue for Q1 was down by 6.4% as compared to Q1 2009, the
Company secured similar net profitability which amounted to LTL 43 million. The
decline in fixed voice subscriptions was fully compensated by the increase in
broadband and TV services subscriptions. TEO continued deployment of its
next-generation broadband network - both FTTH and FTTB - which allowed to
introduce superfast 200 Mbps Internet plans. The Company is planning even
higher investments in FTTH technology than in 2009”.
ENCL.: TEO LT, AB Consolidated Interim Financial Statements for the three
months period ended 31 March 2010.
Darius Džiaugys,
Head of Information Sector,
tel. +370 5 236 78 78
