Telia Lietuva results for the three months of 2020

The Board of Telia Lietuva, AB (hereinafter “Telia Lietuva” or “the Company”) approved unaudited Telia Lietuva, AB Consolidated Interim Financial Statements, prepared according to International Financial Reporting Standards as adopted by the European Union, for the three months’ period ended 31 March 2020.

First quarter of 2020:

• Total revenue amounted to EUR 92.1 million, up by 3.4 per cent over the revenue of EUR 89.1 million in Q1 2019.
• EBITDA, excluding non-recurring items, was EUR 33 million, an increase by 3.7 per cent over EBITDA, excluding non-recurring items, of EUR 31.8 million a year ago.
• Profit for the period was EUR 12.5 million, an increase by 6.5 per cent over profit of EUR 11.8 million a year ago.
• Free cash flow amounted to EUR 23.3 million and was 16.3 per cent higher than in Q1 2019 when it amounted to 20 million.

Management comment:
While in February we have celebrated the third anniversary of our combined mobile and broadband operations under one Telia brand that brought number of unique on the market converged offers and much better experience to our customers, in March we and the whole world have faced unprecedented challenge due to COVID-19 spread to the way we live, work and communicate. Almost over the night we had to adjust to a new reality and swiftly move forward as importance of our usual activities – keeping the people and business connected – increased dramatically.

It is a proof test to our network that we have been building for number of years allocating large amounts of investments. From the very first day of coronavirus-imposed quarantine in Lithuania volumes of calls in our network jumped by 70 per cent, international Internet traffic surged by more than 40 per cent and mobile data volumes increased by more than 15 per cent. We are proud that our combined mobile and broadband network is constructed in a way that it could withstand sudden increase in usage, malfunction of equipment, physical breach of infrastructure or cyber-attacks. In addition, according to the latest measurements of CRA mobile data speed in our network has reached 87.27 Mbps.

As our customer service outlets are closed all over the country from mid-March, all customers are continuously served online or by phone, and sale of equipment completely moved to our online shop. It goes without saying that we put our employees and customers’ health at a highest priority, therefore most of the Company’s employees work remotely, while engineering teams that are installing new services and involved in fault eliminating observe extreme safety requirements.