Telia Lietuva results for 12 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 12 months’ period ended 31 December 2023.

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

• Revenue grew by 5.9% and amounted to EUR 123.3 million (EUR 116.4 million)
• Adjusted EBITDA up by 7.8% to EUR 39.3 million (EUR 36.5 million)
• EBITDA increased by 5.6% and amounted to EUR 38.3 million (EUR 36.3 million)
• Profit for the period went down by 9.7% to EUR 13.3 million (EUR 14.7 million)
• Free cash flow amounted to EUR 16.4 million (EUR -5.4 million)

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

• Revenue grew by 7.2% and amounted to EUR 476.6 million (EUR 444.6 million)
• Adjusted EBITDA up by 13.7% to EUR 168.5 million (EUR 148.1 million)
• EBITDA increased by 12% and amounted to EUR 165.2 million (EUR 147.5 million)
• Profit for the period went up by 12.8% to EUR 63.6 million (EUR 56.4 million)
• Free cash flow went up by 67.5% and amounted to EUR 58 million (EUR 34.6 million)

Comment by Giedrė Kaminskaitė-Salters, CEO of Telia Lietuva:
During 2023 Telia Lietuva continued to lead in technology deployment, inspire customers as well as launching a significant new initiative in the area of sustainability.

Having the largest 5G network in the country and setting new records when it comes to the speed of data downloads in the mobile network has enabled us to attract over the year 39 thousand of new mobile communication subscribers, as a result of which we have become a leader in mobile data consumption. This has converted into double-digit growth in revenue from billed mobile communication services.

Other total revenue growth engines in 2023 were IT and broadband Internet services supported by higher equipment sales. Revenue from Internet services grew despite a rather moderate (2 thousand) increase in the number of FTTH/B connections which did not fully offset the decline in the number of DSL connections (3 thousand).

During 2023, the number of TV service users increased by 4 thousand which is a positive development following the shake-up of the entire TV industry following the shutting-down of Russian channels in 2022. Given the intense competition in the TV market, TV revenue was slightly lower than in 2022. Revenue from retail voice telephony services went down in line with the continuously contracting number of fixed lines, while higher volumes of voice transit in 2023 partially compensated the loss of revenue from retail voice telephony services.