Telia Lietuva results for 12 months of 2024

The Board of Telia Lietuva, AB (hereinafter “Telia Lietuva” or “the Company”) approved unaudited Telia Lietuva, AB Interim Financial Statements, prepared according to International Financial Reporting Standards as adopted by the European Union, for 12 months’ period ended 31 December 2024.

Fourth quarter of 2024 (compared with the same period a year ago):

-    Revenue went up by 6.3% and amounted to EUR 131 million (2023: EUR 123.3 million)

-    Adjusted EBITDA up by 6.1% to EUR 41.8 million (2023: EUR 39.3 million)

-    EBITDA increased by 6.4% and amounted to EUR 40.7 million (2023: EUR 38.3 million)

-    Profit for the period grew by 33.2% to EUR 17.7 million (2023: EUR 13.3 million)

-    Free cash flow went up by 57.8% and amounted to EUR 33.3 million (2023: EUR 21.1 million)

12 months of 2024 (compared with the same period a year ago):

-    Revenue grew by 3.1% and amounted to EUR 491.1 million (2023: EUR 476.6 million)

-    Adjusted EBITDA up by 5% to EUR 177 million (2023: EUR 168.5 million)

-    EBITDA increased by 5.2% and amounted to EUR 173.7 million (2023: EUR 165.2 million)

-    Profit for the period went up by 12.6% to EUR 71.6 million (2023: EUR 63.6 million)

-    Free cash flow went up by 46.4% and amounted to EUR 117.7 million (2023: EUR 80.4 million)

Comment by Giedrė Kaminskaitė-Salters, CEO of Telia Lietuva:

2024 has been a year of challenges and exciting opportunities for Telia Lietuva. At the end of the year, we are proud to report a year of solid growth across all segments as well as a marked increase in the EBITDA margin, which positions us for a strong start of 2025, delivering for our customers, shareholders and the broader society. 

During the last quarter of 2024, Telia Lietuva as well as the whole Telia Company Group has undergone a change program that was set to simplify Group’s operations in the Nordic and Baltic countries. By becoming simpler, more efficient and more customer-focused, we will be in the best position to deliver long-term success for our company and stakeholders. 

The change program had two main priorities: changing operating model and ways of working to a more decentralized set-up, with stronger country units, and resetting cost base.

In practice, this means that each country will have full responsibility and accountability for commercial planning and execution, and for meeting our customers’ needs. At the same time, the Group is keeping the scalability benefits of what is truly common across markets, through a simplified and more focused Technology unit and Group functions. 

From 1 December 2024, local IT, analytics, products, customer-facing capabilities and strategy functions moved from central organizations to the countries.

In Lithuania, colleagues and teams moving from Group functions were incorporated into existing Telia Lietuva organizational structure. 

As an outcome of the change program and ongoing digitalisation of our business, decommissioning of legacy systems and employment of opportunities provided by artificial intelligence (AI) development, was an optimisation of our workforce. In the course of the entire year of 2024, Telia Lietuva has reduced the number of job positions by almost 200 (including the ones that were vacant).

During the fourth quarter of 2024, the Company recorded EUR 1.3 million of non-recurring employee redundancy charges. 

The total revenue for October-December of 2024, compared with the last quarter of the previous year, was 6.3 per cent higher and contributed to overall annual revenue growth of 3.1 per cent. The main driver was revenue stream from billed mobility services from both – consumer and business segments. Over the last 12 months, the total number of mobile subscriptions went up by 60 thousand.  

Due to pricing activities and more additional TV content, revenue from broadband Internet and TV services also grew despite the slight decrease in the number of service users over the course of the year.

Adjusted EBITDA margin for the full year 2024 stood at 36 per cent (35.4 per cent in 2023).

We continue with our commitment to foster diversity and inclusion in our society. Our Christmas campaign featuring a family and a young person with autism spectrum disorder was noticed and recognized as the most memorable season’s advertising campaign in Lithuania.

Telia Company’s (including Telia Lietuva) sustainability performance in 2024 ranks in the top 1% of 130,000 global companies assessed by EcoVadis, a provider of business sustainability ratings. As a result, Telia has been awarded the prestigious EcoVadis Platinum Medal for the third consecutive year. 

For the environment area, EcoVadis highlights Telia’s usage of renewable energy – across all markets, Telia’s networks are 100% powered by fossil-free sources – along with innovative services that help consumers extend the lifetime of their mobile devices.  

In the Ethics category, Telia’s strengths include corruption risk assessments, training and processes to support information security, and the provision of whistleblower mechanisms. 

ENCL.:

- Telia Lietuva, AB Interim Report for January-December of 2024.

- Presentation of Telia Lietuva, AB results for 12 months of 2024.

Darius Džiaugys, 

Head of Investor Relations,

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e-mail:  

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