Telia Lietuva results for 6 months of 2023
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, and Interim Report for 6 months’ period ended 30 June 2023.
Second quarter of 2023 (compared with the same period a year ago):
- Revenue grew by 2.2% and amounted to EUR 113.1 million (EUR 110.7 million)
- Adjusted EBITDA up by 11% to EUR 41.6 million (EUR 37.5 million)
- EBITDA increased by 9.2% and amounted to EUR 41 million (EUR 37.5 million)
- Profit for the period went up by 10.6% to EUR 15.6 million (EUR 14.1 million)
First half of 2023 (compared with the same period a year ago):
- Revenue grew by 7.2% and amounted to EUR 230.5 million (EUR 214.9 million)
- Adjusted EBITDA up by 13.6% to EUR 83 million (EUR 73.1 million)
- EBITDA increased by 11.3% and amounted to EUR 81.5 million (EUR 73.2 million)
- Profit for the period went up by 21.2% to EUR 31.8 million (EUR 26.3 million)
- Free cash flow decreased by 48.8% and amounted to EUR 19.8 million (EUR 38.6 million)
Comment by Giedrė Kaminskaitė-Salters, CEO of Telia Lietuva:
Historical milestone was reached during the second quarter of 2023. Telia Lietuva has completed the upgrade of its entire mobile network with Ericsson equipment and covered 99 per cent of Lithuania’s population with 5G broadband. This early coverage of the entire country will not only benefit the population but also help Lithuania stand out in the international context.
5G connectivity today is much more than just faster internet. Its availability has become an indicator of how well-developed countries are and reaching 99 per cent 5G coverage has put us among Europe’s elite. For each of us, this opens new spaces to work, opportunities to dive into virtual reality from any corner of Lithuania, or maybe even to see a robot delivering groceries rolling into our backyard. With such a well-developed 5G network, Lithuania is much more attractive to investors and developers of future technologies.
Lithuania’s 5G success story is also special because it was “written” in record time. Protracted negotiations with neighbouring countries on 5G frequencies pushed Lithuania into the last European 5G wagon, and commercial frequency auctions were only held in fall of 2022. Nevertheless, Telia Lietuva prepared in advance and on the very first day of the 5G switch-on in September 2022, 80 per cent of the country’s population was immediately able to use next-generation connectivity on the Company’s network.
Telia Lietuva currently has 1,650 mobile 5G base stations in Lithuania and for the time being shows unwavering leadership in 5G deployment in Lithuania.
New 5G connectivity is up to 10 times more energy efficient in terms of the amount of data it transmits, which is particularly important in view of the ever-increasing volume of data and our goal of achieving zero CO2 emissions in its operations by 2030.
In June, we introduced Voice over Wi-Fi technology - a novelty on the Lithuanian market. The service provides the possibility to make voice calls where the mobile network signal is weak or is not available.
Voice over Wi-Fi and other latest IT and telco technologies as well as the most modern equipment were employed by the Company to ensure an interrupted connectivity and operation of 1,200 workplaces media centre during the historic NATO summit in Vilnius in July 2023.
The number of DDoS attacks on state and private institutions during the NATO summit once again reveals the importance of cyber security solutions provided by Telia Lietuva.
Rapid deployment of 5G network and growing usage of mobile data using both 4G and 5G connectivity led to a double-digit increase in revenue from billed mobile communication services. Revenue from IT services continues to surge, too. Lower energy prices and successful control of other expenses resulted in record high EBITDA for the second quarter of 2023.
At the Annual General Meeting shareholders approved a pay-out of EUR 0.06 dividend per share (in total EUR 34.9 million) for the year 2022. Also, shareholders re-elected members of the Board for a new 2-year term and appointed Deloitte Lietuva as the Company auditor for the years 2023 and 2024. In June, members of the Board re-elected Dan Strömberg as Chair of the Board.
ENCL.:
- Telia Lietuva, AB Interim Report for January-June 2023.
- Presentation of Telia Lietuva, AB results for 6 months of 2023.
Darius Džiaugys,
Head of Investor Relations,
tel. ,
e-mail:
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