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Teo sees TV growth, posts solid results

Lithuanian telecom provider Teo almost doubled its TV customer base in 12 months, ending September with a total of 91,717 TV customers, up from 47,469 a year earlier.

The number of digital terrestrial customers increased by 25,800 year-on-year, while the number of IPTV users increased by 18,500. Teo estimates that its market share of the total pay-TV market at the end of June amounted to 15%. The company has 97.5% share of total IPTV customers and almost 100% share of DVB-T users.

Revenue from TV services rose 65.6% year-on-year in the third quarter to LTL6.9m (€2m).
Broadband connections stood at 307,500, up from 286,658 a year earlier. Of those, 230,900 were DSL connections sold to retail customers, 51,700 were fibre optic connections, 23,100 were wireless connections and an additional 1,800 DSL connections were sold to wholesale customers.

Revenue from internet and data communication services was LTL68.6m, up 5.2% year-on-year.
Teo reported overall revenue of LTL209m for the quarter, up 2.3%. EBITDA for the nine months to the end of September was up 2.1% to LTL280m.