Telia Lietuva's profit grew 9 pct last year to EUR 55 mln, revenue up 2 pct

VILNIUS - Telia Lietuva, a company holding the largest share of Lithuania's telecommunications market, posted 54.7 million euros in net profits last year, up 9.2 percent from 50.1 million euros a year earlier.

Revenue increased 2.1 percent to 376.5 million euros, the company reported on Friday. The company’s annual EBITDA, excluding non-recurring items, grew 4.5 percent to 128.7 million euros.

"The past year was very important in that we strongly focused on the management of the most important business platforms – from customer data migration to 5G launch," Dan Stromberg, CEO of Telia Lietuva, said.

In the last quarter of 2018, Telia Lietuva posted 96.8 million euros in consolidated revenues, down 2 percent from the same period in 2017, and EBITDA, excluding non-recurring items, inched up 0.7 percent to 33.1 million euros. Net profits rose 4.9 percent to 13.5 million euros.

Sweden Telia Company owns 88.15 percent of Telia Lietuva.