Telia Lietuva Reports Strong Financial Growth in 2024
Overview of Telia Lietuva's Financial Performance
The Board of Telia Lietuva, AB, referred to as "Telia Lietuva" or "the Company," recently released their unaudited Interim Financial Statements, detailing performance for the year ending December 31, 2024. The financial results showcase a strong performance across multiple segments, indicative of the Company’s resilience and strategic focus.
Q4 2024 Highlights
Comparison with Previous Year
In the fourth quarter of 2024, Telia Lietuva demonstrated impressive growth metrics:
- Revenue: Increased by 6.3%, totaling EUR 131 million, up from EUR 123.3 million from the previous year.
- Adjusted EBITDA: Rose by 6.1% to EUR 41.8 million, compared to EUR 39.3 million in Q4 2023.
- EBITDA: Climbed 6.4% to EUR 40.7 million from EUR 38.3 million year-on-year.
- Profit: Skyrocketed by 33.2%, reaching EUR 17.7 million, a significant rise from EUR 13.3 million last year.
- Free Cash Flow: Surged by 57.8% to EUR 33.3 million from EUR 21.1 million.
Yearly Financial Performance
For the entire year of 2024, Telia Lietuva reported:
- Revenue Growth: A 3.1% increase resulting in a total of EUR 491.1 million, up from EUR 476.6 million.
- Adjusted EBITDA: Increased by 5% to EUR 177 million from EUR 168.5 million.
- EBITDA: Grew by 5.2% reaching EUR 173.7 million compared to EUR 165.2 million in 2023.
- Profit for the Year: Improved by 12.6%, totaling EUR 71.6 million, up from EUR 63.6 million.
- Free Cash Flow: Expanded by 46.4% to EUR 117.7 million compared to EUR 80.4 million the previous year.
CEO Insights on Growth and Change
Giedr? Kaminskait?-Salters, CEO of Telia Lietuva, commented on the results, describing 2024 as a year filled with both challenges and exciting opportunities. The Company has seen solid growth across all segments, enhancing its EBITDA margin, which sets a strong foundation for 2025. The focus on delivering value to customers, shareholders, and society at large has been a pivotal strategy.
Organizational Changes and New Focus
Throughout the last quarter of the year, Telia Lietuva, alongside other segments of the Telia Company Group, initiated a change program aimed at simplifying operations across the Nordic and Baltic regions. By adopting a more decentralized operating model, the group aims to enhance customer focus and operational efficiency.
This strategic adjustment means each country will now carry full responsibility for their commercial planning and execution, ensuring their teams are well-aligned with local customer needs. In return, the Group retains extensive scalability benefits through a simplified Technology unit and Group functions.
Diverse Workforce Optimization
As a result of ongoing digital transformation initiatives and modernization, the Company’s workforce optimization has seen the reduction of nearly 200 job positions throughout 2024, including vacant roles.
Financial Review and Future Outlook
For Q4 2024, Telia Lietuva's total revenue recorded a 6.3% increase over the prior quarter, contributing to the year’s overall growth of 3.1%. Notably, the revenue growth was significantly driven by mobility services across both consumer and business segments, marking a rise of 60,000 mobile subscriptions. Revenue from broadband Internet and TV services also witnessed an increase, bolstered by strategic pricing adjustments and enhanced TV content offerings, despite a slight decline in the total number of service users.
Commitment to Sustainability
Telia Lietuva continues to prioritize sustainability and diversity within its operations. The Company’s commitment includes fostering an inclusive environment, evidenced by a Christmas campaign celebrating a family with a young person on the autism spectrum, receiving accolades as a standout advertising initiative in Lithuania.
Moreover, Telia Company has been recognized for its sustainability performance, ranking in the top 1% of more than 130,000 global entities evaluated by EcoVadis. The Company has proudly maintained its EcoVadis Platinum Medal for three consecutive years, underlining significant achievements in sustainability, particularly in renewable energy.
Contact Information
For more information, please contact:
Darius Džiaugys,
Head of Investor Relations,
tel. +370 5 236 7878,
e-mail: darius.dziaugys@telia.lt
Frequently Asked Questions
What were the key financial highlights for Telia Lietuva in 2024?
Telia Lietuva reported a revenue increase of 3.1%, with adjusted EBITDA growth of 5%, showcasing strong financial performance throughout the year.
How did the CEO describe the year 2024 for Telia Lietuva?
The CEO highlighted 2024 as a year filled with challenges and exciting opportunities, emphasizing solid growth and improved EBITDA margins.
What were the results of Telia Lietuva’s change program?
The change program focused on decentralizing operations and has led to increased accountability in commercial planning across regions.
What adjustments were made to the workforce at Telia Lietuva?
In 2024, the Company optimized its workforce, reducing nearly 200 job positions, including those that were vacant, for greater efficiency.
How has Telia Lietuva recognized its commitment to sustainability?
Telia Lietuva ranks in the top 1% of companies assessed for sustainability, receiving the EcoVadis Platinum Medal for its dedication to renewable energy and diversity initiatives.
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