Record growth in the fourth quarter helped the Lithuanian incumbent Teo end 2015 with 163,000 IPTV subscribers, or 23.9% more than a year earlier.
At the same time, its broadband internet user total grew by 5.5% to reach 391,000.
Teo’s total revenues in Q4 grew by 1.4% and were, at €54.2 million, the highest in the last three years. EBITDA increased by 13.9% to €22.4 million and the EBITDA margin from 36.8% to 41.4% over the year.
The company continued to invest in the development of its next-generation fiber-optic network, and as a result, at the end of the year, 70% (854,000) Lithuanian households had access to high-speed broadband communication services. In 2015, it invested €34.6 million, or 15.7% more than a year earlier, in the upgrade and development of its network and IT systems.
Commenting on Teo’s results, its CEO Kestutis Sliuzas said: “The annual revenue growth and the increased profitability indicators in the last quarter are the result of our focus on customers. These indicators also reflect the efforts aimed at the streamlining of our core business and making it more efficient. Having purposefully chosen the path to develop next-generation telecommunications services, we are bridging the divide between technologies, increasing the supply of high-quality content and searching for solutions how to use smart technologies in a convenient way. We are aware that today’s customers need not only infrastructure and equipment, but, first of all, they need services and solutions that meet their needs”.
