TEO Net Profit for First Half of 2010 Amounted to LTL 83.6 Million
OREANDA-NEWS. July 21, 2010. The total consolidated revenue of TEO LT, AB Group, the largest provider of integrated telecommunication, IT and TV services in
Last year, TEO revenue for the first six months amounted to LTL 408.9 million, and net profit of the Company amounted to LTL 91.9 million. EBITDA for January-June 2009 was LTL 190 million, while EBITDA margin – 46.5 per cent.
The total revenue for the second quarter of 2010 was LTL 195 million, an increase by 1.6 per cent over the total revenue of LTL 192 million for the first quarter of 2010.
“During the first quarter of 2010, the Lithuanian electronic communications market contracted by more than 11 per cent and the recession continued. However, TEO managed to increase the number of broadband and TV customers and maintain its high EBITDA level and net profitability”, - Arunas Siksta, General Manager of TEO, said when commenting on the activity results.
“Successful performance will allow the Company to continue investments in deployment of its next generation network by allocating for that purpose even more funds than in
The Company’s share of revenue from Internet and data communications services from total amount of revenue for the first six months of 2010 amounted to 33.4 per cent, voice telephony services – 54.8 per cent. The share of revenue from television services from total amount of revenue for January-June 2010 amounted to 4.6 per cent, IT services – 4.1 per cent and other services – 3.1 per cent.
Over the last 12 months, the number of the Company’s television service users increased by almost 33 per cent and at the end of June amounted to 114.1 thousand. The number of broadband Internet access users increased by 7.6 per cent – up to 326.9 thousand. The total number of main telephone lines in service at the end of June amounted to 703.1 thousand.
According to the data of the Communications Regulatory Authority of the
During the first six months of 2010 the Company allocated LTL 51 million for investments. The majority of investments (LTL 49 million) went to expansion of the core network and development of the next generation fiber-optic access network. The remaining part was invested in the development IT systems and in the renovation of premises. In March, TEO opened a new customer care centre in
TEO Group consists of the parent company, TEO LT, AB, and its subsidiaries: Lintel,