Results for the twelve months of 2012
On 29 January 2013, 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 2012.
The total revenue for the twelve months of 2012 was LTL 760 million (EUR 220 million), an increase of 1.4 per cent over the total revenue of LTL 750 million (EUR 217 million) for the twelve months of 2011.
EBITDA for the twelve months of 2012 increased by 1.6 per cent to LTL 307 million (EUR 89 million) over LTL 302 million (EUR 88 million) for the same period year ago. EBITDA margin amounted to 40.4 per cent (40.3 per cent in 2011).
Profit before income tax for the twelve months of 2012 was up by 3.1 per cent and amounted to LTL 177 million (EUR 51 million) (LTL 172 million (EUR 50 million) a year ago).
Profit for the period in January-December 2012 amounted to LTL 159 million (EUR 46 million), an increase by 3 per cent over the profit of LTL 154 million (EUR 45 million) for the same period year ago.
Management’s comment on financial results for the twelve months period of 2012:
“With the Lithuanian telecommunications market struggling to revert to growth (the market decreased by 4.5 per cent during the nine months of 2012), TEO increased its revenue in 2012 by 1.4 per cent achieving total revenue of LTL 760 million (EUR 220 million). With cost increase of 1.3 per cent, the Company registered a 1.6 per cent higher EBITDA than a year ago. Net profit exceeded profit of 2011 by 3 per cent.
TEO continued its commitment for provision of the most advanced telecommunications services available in the market today. During 2012 investments into a next-generation network made up more than a half of total capital investment of LTL 151 million (EUR 44 million). The Company completed its network overhaul, enabling it to provide a stunning Internet speed of up to, but not limited to, 300 Mbps. TEO upgraded its Interactive GALA TV service with new features that literally converted regular television to an entertainment hub.
Despite the falling telecommunications market, TEO increased its Internet customer base by 3.7 per cent – the number of customers exceeding 385 thousand. The number of TV service users increased by 12 per cent. Revenue from the well-accepted in the market IT services provided by TEO grew by more than 30 per cent for the third year in a row.
In 2013, with Lithuania’s economy shifting towards growth, while increasing competition, TEO will be committed to its customers’ need for further improvement of the quality of services.”
ENCL.:
- TEO LT, AB Consolidated Interim Financial Statements for the twelve months period ended 31 December 2012.
- TEO LT, AB results for 12 months of 2012 presentation.
- Video comment by Arūnas Šikšta, CEO of TEO LT, AB
Darius Džiaugys,
Head of Investor Relations,
tel. +370 5 236 7878
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