Internet, Lithuania, Markets and Companies, Technology, Telecomunications

The total consolidated TEO Group's revenue for the second quarter of 2014 was LTL 174 million (EUR 50 million), which is by 2.6% higher than the total revenue of LTL 169 million (EUR 49 million) for the first quarter of 2014, but by 2.3% lower than revenue of LTL 178 million (EUR 52 million) for the second quarter of 2013.

The total revenue for the first six months of 2014 decreased by 4.8% to LTL 343 million (EUR 99 million) while the total revenue for the first six months of 2013 amounted to LTL 361 million (EUR 105 million), but excluding revenue from continuously declining voice telephony revenue grew by 1.1%.

EBITDA for the second quarter of 2014 went down by 9.4% to LTL 68 million (EUR 20 million) over LTL 75 million (EUR 22 million) in the second quarter of 2013, but was up by 3.6% over EBITDA of LTL 66 million (EUR 19 million) for the first quarter of 2014. EBITDA margin for the second quarter of 2014 amounted to 39.2% (42.2% in 2013).

EBITDA for the first half of 2014 decreased by 10.5% to LTL 134 million (EUR 39 million) over LTL 150 million (EUR 43 million) for the same period year ago. EBITDA margin declined and amounted to 39% (41.5% in 2013). Over the year EBITDA excluding non-recurring items went down by 4.2% while EBITDA margin excluding non-recurring items stood at 42.8%.

Profit before income tax in the second quarter of 2014, compared with the second quarter of 2013, went down by 12.8% and amounted to LTL 37 million (EUR 11 million). It was LTL 42 million (EUR 12 million) a year ago. Profit before income tax in the first half of 2014 was down by 14.7% and amounted to LTL 72 million (EUR 21 million). It was LTL 84 million (EUR 24 million) a year ago. Profit before income tax excluding non-recurring items was by 3.4% lower than during the first half of 2013.

Profit for the period in April-June 2014 amounted to LTL 32 million (EUR 9 million), while a year ago it was LTL 37 million (EUR 11 million), a decrease by 14.4%, and it was almost the same as in January-March 2014. The profit margin for the second quarter of 2014 was 18.4% (21% a year ago). Profit for the period in January-June 2014 amounted to LTL 64 million (EUR 19 million), a decrease by 15.8% over the profit of LTL 76 million (EUR 22 million) for the same period year ago. The profit margin was 18.6% (21.0% a year ago). Profit for the period excluding non-recurring items was by 3.3% lower than in January-June 2013 and profit margin excluding non-recurring items was 22.4%.