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 3 months' period ended 31 March 2023.
First quarter of 2023 (compared with the same period a year ago):
- Revenue grew by 12.7 per cent and amounted to EUR 117.4 million (EUR 104.2 million)
- EBITDA (excl. non-recurring items) went up by 16.3 per cent to EUR 41.4 million (2022: EUR 35.6 million)
- EBITDA increased by 13.5 per cent and amounted to EUR 40.5 million (EUR 35.7 million)
- Profit for the period went up by 33,4 per cent to EUR 16.2 million (EUR 12.2 million)
- Free cash flow decreased by 57.1% and amounted to EUR 7.5 million (EUR 17.6 million)
Comment by Giedre Kaminskaite-Salters, CEO of Telia Lietuva:
On 28th of February, we said thank you and farewell to Dan Strömberg who led the Company from July 2018 and will continue to be with Telia Lietuva but in a new role - as Chair of the Company's Board, which performs supervisory, non-executive functions.
The last five years under Dan's exemplary leadership were marked with ongoing business transformation, a major upgrade of fixed and mobile network that climaxed with the launch of 5G communication in the autumn of 2022. Together we survived the pandemic and faced an outbreak of war in Ukraine.
Since 2018, the Company's financials have been steadily going up and Telia Lietuva market capitalization now exceeds EUR 1 billion.
As a new CEO I am taking over a company that is well positioned for market leadership and I am committed to its stewardship for the ultimate benefit of its key stakeholders - our customers, our employees and the Lithuanian society as a whole.
I will continue to focus on improving the quality of the Company's customer experience. To differentiate ourselves through quality, we need to raise the bar for customer experience even higher and become their first choice when it comes to simplicity, speed, and the ability to provide all telecommunication services from a single set of hands.
The first quarter of 2023 was in line with our ambitious course of direction. Our revenue and EBITDA showed a double-digit growth, reaching a record high level. We recorded an increase in revenue from services as well as equipment sales in both consumer and business customer segments. We are successfully coping with inflationary and high energy price challenges, too.
Besides, we are steadily approaching our goal of having 99 per cent of Lithuania's territory covered by Telia's 5G network by the end of the summer. During the first three months of 2023, 5G connection became available in three eastern Lithuanian cities ensuring 90 per cent geographical coverage. We are determined to be the 5G deployment leader in Lithuania.
Our commitment to sustainable operations and continuous progress was recognized - Telia Lietuva was ranked as the country's telecommunication industry leader in Sustainable Business Index.
In March 2023, we welcomed a new independent member of the Board, Leda Iržikeviciene, whose in-depth expertise in finance and corporate management will provide a valuable steer to our strategic agenda.
Following a year of record high capital investments marked with the launch of 5G communication and taking into consideration the current economic environment, the Board decided to take a prudent approach and proposed to the forthcoming Annual General Meeting of Shareholders to approve a pay-out of EUR 0.06 dividend per share (in total EUR 34.9 million) for the year 2022.
ENCL.:
- Telia Lietuva, AB Interim Report for January-March 2023.
- Presentation of Telia Lietuva, AB financial results for 3 months of 2023.
Darius Džiaugys,
Head of Investor Relations,
tel. +370 5 236 7878,
e-mail: darius.dziaugys@telia.lt
