Strong TV performance boosts Teo’s top line

The addition of IPTV customers at the fastest rate for two years boosted Lithuanian telco Teo’s performance for the third quarter. 

Teo added 7,500 IPTV customers in the quarter to take its total to 123,900. The operator attributed its strong performance in TV additions to the its updating and simplifying of its service at the start of the year. Since July, Teo customers can also view uploaded video and audio clips on their TVs.

Teo expanded its fibre base by 11.5% in the year to September, taking the total to 193,.800. The fibre network now reaches about two thirds of the country’s population.

Teo posted revenues of LTL513.9 million (€148.2 million) for the three quarters to September, with a net profit of LTL99.4 million.

“We successfully completed the quarter, during which the company had implemented the new organisational structure and by the end of the summer formation of the management team was over. This period was characterized by high intake of television and Internet service customers, growing market shares,” said Kęstutis Šliužas, general manager of Teo.

“In September we grew both the total number of Teo customers and the company’s revenue. In addition, revenue from IT services provided to business customers in this quarter for the first time exceeded revenue from voice telephony services provided to business customers. Those are the first significant results of changes in the company.”