Telia Lietuva results for 9 months of 2023

The Board of Telia Lietuva, AB (hereinafter “Telia Lietuva” or “the Company”) approved unaudited Telia Lietuva, AB Interim Financial Statements, prepared according to International Financial Reporting Standards as adopted by the European Union, for 9 months’ period ended 30 September 2023.

Third quarter of 2023 (compared with the same period a year ago):

• Revenue grew by 8.4% and amounted to EUR 122.8 million (EUR 113.3 million)
• Adjusted EBITDA up by 19.6% to EUR 46.1 million (EUR 38.6 million)
• EBITDA increased by 19.3% and amounted to EUR 45.4 million (EUR 38.1 million)
• Profit for the period went up by 19.9% to EUR 18.5 million (EUR 15.4 million)
• Free cash flow amounted to EUR 21.8 million (EUR 1.4 million)

9 months of 2023 (compared with the same period a year ago):

• Revenue grew by 7.6% and amounted to EUR 353.3 million (EUR 328.2 million)
• Adjusted EBITDA up by 15.7% to EUR 129.1 million (EUR 111.6 million)
• EBITDA increased by 14% and amounted to EUR 126.9 million (EUR 111.3 million)
• Profit for the period went up by 20.7% to EUR 50.3 million (EUR 41.7 million)
• Free cash flow went up by 3.8% and amounted to EUR 41.6 million (EUR 40.1 million)

Comment by Giedrė Kaminskaitė-Salters, CEO of Telia Lietuva:
Telia Lietuva has delivered an exceptional quarter in terms of revenue growth and earnings’ margins. Total revenue for the third quarter and nine months of 2023 increased by 8.4 and 7.6 per cent, respectively, compared with the same periods a year ago. Earnings were growing by double digits and adjusted EBITDA margin for January-September of 2023 reached 36.6 per cent (34 per cent in 2022).

Surge in revenue was boosted by intake of new mobile subscriptions (40 thousand over the last 12 months) and continuously growing usage of mobile data thanks to our 5G network, already covering almost the entire country.

Since September 2022, when Telia Lietuva launched its 5G network, the number of 5G devices in the Company’s network has doubled. Currently every fourth device operating in our network supports 5G connectivity and each such device on average uses around 50 GB per month. This proves that rapid deployment of Telia’s 5G network facilitated the creation of new customer habits in Lithuania.

According to the latest Communication Regulation Authorities‘ report, customers of Telia Lietuva consumed the most of mobile data compared to competitors during the second quarter of 2023.