• Lithuanian telco gains TV subs

    Lithuanian telco gains TV subs

    July 18, 2013 08.40 Europe/London

    The TeliaSonera-backed Lithuanian incumbent TEO ended the first half of 2013 with 170,200 users of its TV services, or nearly 9% more than a year earlier.

    At the same time, its internet subscriber total rose by 4.5% to 394,100. TEO’s share of revenue from internet and TV services continued to grow and amounted to 24.6% and 8.5% of the total respectively in H1 this year.
    TEO’s total consolidated revenues for H1 stood at LTL360.5 million (€104 million), while its net profit was LTL75.6 million.

    This compared to LTL380.7 million and LTL78.3 million in the corresponding period in 2012.
    The telco allocated LTL45 million for investments in the first six months of this year, with the majority (LTL39 million) being for the core network and next generation fiber-optic access networks.