Telia Lietuva results for the six 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, and Consolidated Interim Report for the six months’ period ended 30 June 2020.

Second quarter of 2020:
- Total revenue amounted to EUR 97.1 million, up by 5.6 per cent over the revenue of EUR 92 million in the second quarter of 2019.
- EBITDA, excluding non-recurring items, was EUR 33.3 million, an increase by 6.6 per cent over EBITDA, excluding non-recurring items, of EUR 31.2 million in the second quarter of 2019.
- Profit for the period was EUR 11.4 million, down by 11.5 per cent over the profit of EUR 12.9 million a year ago due to higher expenses for income tax.

First half of 2020:
- Total revenue amounted to EUR 189.3 million, up by 4.5 per cent over the revenue of EUR 181.1 million in the first half of 2019.
- EBITDA, excluding non-recurring items, was EUR 66.3 million, an increase by 5.2 per cent over EBITDA, excluding non-recurring items, of EUR 63.1 million in the first half of 2019.
- Profit for the period was EUR 23.9 million, down by 2.9 per cent over the profit of EUR 24.6 million a year ago due to higher expenses for income tax.
- Free cash flow amounted to EUR 45.3 million, an increase by 53 per cent over free cash flow of EUR 29.6 million a year ago.

Management comment:
The Covid-19 virus caused quarantine in Lithuania was officially over on 17 June 2020, but our shops were reopened earlier at the end of April and employees were gradually returning to the offices starting from May. Employees returning to the head-office after the quarantine could work at the first outdoor office.

We believe that today we could firmly state that Telia Lietuva successfully overcome this unprecedent challenge that completely change the way we live and work almost overnight. We kept our promise to keep people and businesses connected at any time, any place and any device used. Our network coped with suddenly increased calls’ and data traffic as we have continuously invested into reliability of our fixed and mobile networks. Our employees without disruptions switched to remote work as such set up was not the novelty for them. Our IT specialist were able to assist our customers’ in migrating to work from home mode as we are integrated communication and IT service provider. Our consultants successfully handled increased flow of incoming customers’ calls and inquiries as our Contact Centre is recognised as the best in Lithuania. Telia Lietuva we assisted in setting up the official country’s Corona virus hot line.