Telia Lietuva profits rise as it rolls out new LTE television tech
Telia Lietuva issued its interim report for the six months ended 30 June on Friday, reporting a 1.6% decline in total revenue to €93.1m for the second quarter.
The telecoms operator - the largest in Lithuania - said its EBITDA, excluding non-recurring items, was €31.4m for the quarter - an increase of 8.2%, while profit was €13.8m, up by 16.1%.
For the first half as a whole, total revenue amounted to €183.8m, up by 2.4%, with EBITDA excluding non-recurring items rising 8.4% to €62.4m.
Profit for the half was €25.8m, up by 20.2% year-on-year, with free cash flow amounting to €23.4m, compared to €15.8m a year earlier.
“The second quarter of 2018 was marked with another converged technology offer - IPTV over LTE,” noted the Telia board on its operations.
“This innovation represents one more example of the synergy of our services and technologies, which provides our customers with new possibilities and extra value.
“In addition, IPTV over LTE as a modern substitute allows to terminate provision of outdated digital terrestrial television (DVB-T) service in fall of 2018.”
The board said revenue growth, in combination with cost control and operational efficiency, led to a double-digit growth of profitability.
It added that its business transformation programme was ongoing, with two-thirds of home service users migrating into the new SAP system.
“In May, we paid-out a record-high €0.07 dividend per share - in total €40.8m - for the year 2017.
“In June, Telia Lietuva was awarded as The Most Desired Employer of the Year for second year in a row.
“On 4 July, Dan Strömberg stepped in as [the] new CEO of Telia Lietuva, following the resignation of Kęstutis Šliužas, who [had held] the position of CEO … since November 2013.”