The Lithuanian incumbent Teo’s IPTV service grew its subscriber base last year at the fastest rate since its launch in 2006.

As of the end of December, the service had 131,000 customers, or 24% more than in the corresponding period in 2013.

This growth, says the company, was attributable to a service update, simplification of its usage and the introduction of new free features.

Meanwhile, Teo’s revenues in 2014 amounted to LTL698.5 million (€202.3 million).

Its EBITDA margin reached 38.8% and net profit LTL131.5 million.

The company invested LTL103.1 million in 2014, with the majority (88%) being for the development of the next generation fibre-optic access network and the core network.

As of the end of December, 836,000 households, equivalent to almost two-thirds of Lithuania’s total, were passed by the FTTH network.

Teo also notes that over the year the number of Teo smart TV users increased by 24%.

Separately, the Latvian incumbent Lattelecom has posted a net profit of €30.1 million for 2014, up 7% on the previous year.

Its EBITDA rose by 4% to nearly €72 million.

Lattelecom says that two TV channels it launched in 2014 – Positivus TV and Kultura 360 TV – have enjoyed particular success.

Both Teo and Lattelecom are backed by TeliaSonera.