The financial report of Telia Lietuva, the Lithuania-based telecommunications and media firm, has been released this week.
Prepared based on the European Union’s International Financial Reporting Standards, the report provides a picture of the financial developments for the Easter European firm for the first half of 2018. Here are the key takeaways:
- From January to June, Telia Lietuva’s total revenue yield is 183.8 million euros ($214.4 million). This figure is greater by 2.4 percent to 179.5 million euros ($209.4 million) revenue on the same period in 2017.
- The Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA), or the accounting measure of the firm’s operating performance, amounted to 62.4 million euros ($72.8 million). This shows the EBITDA figures climbing by 8.4 percent from last year’s 57.5 million euros ($67 million).
- Profits for the first half of 2018 reached 25.8 million euros ($30 million). This is an increase of 20.2 percent over last year’s earnings of 21.4 million euros ($25 million).
With figures mostly showing an upswing, a series of positive developments have been in line for the company as well.
In the second quarter of this year, Telia Lietuva started to offer Internet Protocol TV (IPTV) over Long-Term Evolution (LTE). Through the most rapid Telia Lietuva mobile LTE 4G network, customers can now avail the Telia Smart TV through cable nationwide.
This service is another product of the company’s fusion of technologies and services. Consumers are guaranteed with extra value and new possibilities. By autumn, IPTV over LTE will render digital terrestrial TV obsolete.
In addition, the firm’s Telia One offer has substantially contributed to the increase in customers. Introduced in October 2017, it proffer’s faster Internet speed, more TV content, and more data for both mobile and fixed customers.
Telia Lietuva’s total investments from January to June totaled to 33.2 million euros ($38.7 million), a jump to 23.4 percent from last year’s 26.9 million euros ($31.4 million). Upgrading its mobile and fixed network and information technology systems are its priorities.
Hailed as “The Most Desired Employer of the Year” in June for two consecutive years, Telia Lietuva also has a new CEO starting this month, Dan Strömberg.
A product of the merger between Baltic Data Center, Teo, and Omnitel on February 1, 2017, the company offers IT, TV, and telecommunications services. With the international Telia Company as its parent organization, Telia Lietuva serves Baltic and Nordic countries.