TEO gains TV customers

April 23, 2014 10.20 Europe/London By Chris Dziadul

TEOThe Lithuanian incumbent TEO ended the first quarter with 173,700 customers using its smart and digital TV services.

This was 4.3% more than three months earlier and 14% up year-on-year.

At the same time, TEO had 441,700 internet, including Wi-Fi, and 552,700 main telephone line subscribers. TV services accounted for 8.9% of the company’s revenues in the quarter.

Total revenues stood at LTL169.5 million (€48.9 million), while the EBITDA net margin was 38.8% and profit LTL31.7 million.

Data published by Lithuania’s Communications Regulatory Authority meanwhile shows that TEO claimed a 42.9% share of revenues in the digital TV sector, though in Q4 2013 rather than Q1 this year.

TEO allocated LTL13.1 million for investment in Q1 this year, the majority of which (LTL12 million) went towards further expansion of the core network and development of the next-generation fiber-optic access network.

Commenting on the results, Kestutis Sliuzas, general manager of TEO, said: “Our customers appreciate the upgraded TEO smart television service, its’ user interface as well as new features of TEO internet. The first quarter of this year has become the start of the company’s activity changes.”