Teo IPTV base edges towards 50,000

Lithuanian telco Teo added 7,600 subscribers to its Gala TV service in the first six months of the year, taking the total to 47,800 at the end of June. The company’s DVB-T service, Digital Gala, grew by 11,500 to 37,900 in the first half.

Teo added 5,700 broadband subscribers in the same period, taking its broadband base to 303,800.

The company’s revenues for the first six months of the year amounted to LTL408.9m (€118m), down from LTL412m for the same period last year. However, EBITDA grew by 1.7% to LTL190m and net profit increased by 2.9% to LTL91.9m. Internet and data communication services amounted to 34.3% of revenue. Teo invested LTL46.9m in its broadband network in the first six months of the year.