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2012-02-01 08:00:08 CET 2012-02-01 08:01:17 CET REGULATED INFORMATION TEO LT, AB - Interim informationResults for the twelve months of 2011On 31 January 2012, the Board of TEO LT, AB (hereinafter - “TEO” or “the Company”) approved unaudited TEO LT, AB Consolidated Interim Financial Statements, prepared according to International Financial Reporting Standards as adopted by the European Union, for the twelve months period ended 31 December 2011. The total revenue for the fourth quarter of 2011 was LTL 195 million (EUR 57 million), an increase of 1.5 per cent over the same quarter a year ago. The total consolidated TEO Group's revenue for the twelve months of 2011 was LTL 750 million (EUR 217 million), a decline of 3.1 per cent over the total revenue of LTL 773 million (EUR 224 million) for the twelve months of 2010. EBITDA for the twelve months of 2011 went down by 2.6 per cent to LTL 302 million (EUR 88 million) over LTL 310 million (EUR 90 million) for the twelve months of 2010. Nevertheless, EBITDA margin slightly increased and amounted to 40.3 per cent (40.1 per cent in 2010). Profit before income tax for the twelve months of 2011 was down by 4.5 per cent and amounted to LTL 172 million (EUR 50 million) (LTL 180 million (EUR 52 million) a year ago). Profit for the period amounted to LTL 154 million (EUR 45 million), while a year ago it was LTL 163 million (EUR 47 million), a decrease by 5.2 per cent. The profit margin was 20.6 per cent (21.2 per cent a year ago). Management's comment on financial results for October-December 2011: “TEO revenue for the fourth quarter of 2011 was LTL 195 million (EUR 57 million) - the best result of the last 8 quarters. Revenue increase in Q4 was mostly due to increased prices for TV services, as well as revenue coming from international traffic, one-time projects and equipment sales. The Company continued to control its costs. Operating expenses for Q4 amounted to LTL 122 million (EUR 35 million), which is 0.6 per cent less than during the similar period in 2010. Fixed telephony revenue continues to decline as expected, but remains under control. Broadband customer base continued to increase. Revenue from Internet services during Q4 was higher by almost 7 per cent than in Q3. TV services revenue in Q4 increased by more than 10 per cent compared to an average quarterly increase of around 5-6 per cent. TEO capital investments during Q4 stood at LTL 52 million (EUR 15 million) and were mostly directed into the next-generation network build-out.” Management's comment on financial results for the twelve months of 2011: “Despite a turbulent situation in the telecommunications market, which fell over 9 per cent in Q3, TEO produced good result for the year 2011. Its revenue was LTL 750 million (EUR 217 million), which is 3.1 per cent less than a year ago. Rigorous cost control - costs decreased by 3.4 per cent - allowed the Company to reach better profitability than in 2010. TEO EBITDA margin increased to 40.3 per cent compared to 40.1 per cent during the previous year. During 2011 TEO invested substantially into its next-generation optical network and almost accomplished its network infrastructure upgrade. Total investments for the year stood at LTL 156 million (EUR 45 million). Although the fixed telephony market continued to decline in business segment, TEO increased its revenue stream from its other main services. Thus Internet revenue increased by 0.9 per cent, TV services - by 26 per cent. IT services added to the Company's revenue LTL 11.5 million (EUR 3 million) or 31.8 per cent more than in 2010. TEO continued to develop its IPTV service by offering new functionalities not yet replicated in the market. The Company will continue to improve its flagship TV product with new features which will make it an exclusive entertainment product. The Company further expanded its customer base, although the economic situation was not favorable. The number of Internet users connected to TEO optical network increased by more than 35 per cent. The number of TV customers increased over 15 per cent. TEO anticipates that in 2012, although some GDP increase is expected, the economic situation will be difficult due to uncertainties in the Euro zone, also high emigration and jobless population trends. However, the Company, with its developed next-generation network and business processes, feels confident that it will be able to provide customers with top speed and quality services in the coming future.” ENCL.: -- TEO LT, AB Consolidated Interim Financial Statements for the twelve months period ended 31 December 2011. -- TEO LT, AB presentation of results for the twelve months of 2011 -- Video comment by CEO of TEO LT, AB Arūnas Šikšta Darius Džiaugys, Head of Information Sector, tel. +370 5 236 7878 |
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