On 27 April 2017 the Annual General Meeting of Telia Lietuva, AB (hereinafter ‘Telia Lietuva’ or ‘the Company’) Shareholders approved Consolidated and Separate Financial Statements, Consolidated Annual and Independent Auditor's Reports for the year ended 31 December 2016.
The audited revenue of Telia Lietuva Group for the year 2016 is the same as the revenue for the twelve months of 2016 that was announced on 27 January 2017 – the audited consolidated Telia Lietuva Group revenue for the year 2016 amounted to EUR 345,906 thousand. EBITDA excluding non-recurring items was EUR 117,041 thousand (EUR 117,118 thousand was announced on 27 January 2017) and free cash flow amounted to EUR 44,176 thousand (EUR 44,176 thousand was announced on 27 January 2017). Due to additional amortisation and depreciation charges, the audited profit for the period of January-December 2016 was a bit lower and amounted to EUR 41,494 thousand, while EUR 41,903 thousand was announced on 27 January 2017.
Kęstutis Šliužas, CEO of Telia Lietuva, word:
“Big things do not always fit into the standard packaging. Sometimes we also find 24 hours per day and 12 months per year insufficient. This is what our 2016 looked like - a year of big works, good results and special mood.
We started our path to the next generation telecommunications business in October 2015 having announced our plans to merge Teo and Omnitel. We agreed on strategic goals, formed a joint management team and made organizational structures of both companies uniform. On 4 January 2016, Teo acquired 100 percent of shares of Omnitel, and both companies started joint operations. On 1 February 2017, after the merger of Omnitel and Baltic Data Center with Teo under a new Telia Lietuva name, we turned the page in the history of telecommunications business of Lithuania. Today we are a company providing the most telecommunications, IT and TV services from a single point in Lithuania.
However, high temperature was needed for this high-quality alloy, which we had to maintain throughout 2016. Cultures of different companies became a single Telia family - with joint teams of employees, merged offices, new offers, merged technologies and networks, IT systems and common resource management.
At the end of the year, our customers could clearly see that they were communicating with a single company: we started selling all services from a single point having merged and renovated more than 70 customer service centres throughout Lithuania. We became available to residents and business customers by calling a single telephone number or contacting a single manager. Simply and conveniently.
This was needed to exploit the entire potential, which Telia Lietuva had accumulated. Today we see that more than half of residents of Lithuania and thousands of businesses use our services. We are already able to offer you solutions that allow creating the ecosystem of inter-related devices and technologies that facilitate life, the so called # visakotinklas (#allthingsnetwork), from a single point.
In addition to typical activities, the process of integration of Telia, which lasted for a year and a half, demanded additional focus and energy. Thus now, having successfully completed this stage and laid strong foundation for the next generation telecommunications business, we are going back to our essence - leadership in technology, focus on customers and development of new services.
The path, which we took in October 2015, is a correct path, thus we are determined to continue following it, offering to our customers even more solutions, technology, convenience and, most importantly, #daugiaugyvenimo (#more life).“
The Company also prepared Sustainability Report for the year 2016 in html format.
The Financial Statements and Sustainability Report for the year 2016 are available on the Internet at https://www.telia.lt/ma2016/en
ENCL.:
- Telia Lietuva, AB Consolidated and Separate Financial Statements, Consolidated Annual and Independent Auditor's Reports for the year ended 31 December 2016
- Presentation of the results for the year 2016.
Darius Džiaugys,
Head of Investor Relations,
tel. +370 5 236 7878
