Mixed fortunes for Lithuanian TEO
By Chris Dziadul
Published: October 22, 2010 09.13 Europe/London
The Lithuanian incumbent telco TEO LT ended the third quarter with 121,600 subscribers to its GALA-branded IPTV and DTT services, or almost 33% more than a year earlier.
At the same time, its broadband subscriber total rose by 9% year-on-year to 334,800 and the company also had 696,400 fixed telephone lines.
TEO LT invested LTL91 million (€26.3 million) in the first nine months of this year, with the majority (LTL81 million) being allocated to the expansion of the core network and fibre-optic access networks. Its total investment for this year is expected to be LTL178 million.
TEO LT’s financial results for the first nine months of this year were nevertheless disappointing when compared to the corresponding period in 2009.
Consolidated revenue amounted to LTL580.9 million (LTL617.6 million) and net profit LTL125 million (LTL134.2 million). EBITDA meanwhile stood at LTL239.6 million (LTL279.3 million) and the EBITDA margin was -41.3% (-45.2%).
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