Both companies' consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) stood at 29.2 million litas in the January-March period, up by 12.5% year-on-year from 26 million litas, Teo LT said in a press release.
"The first three months of integrated operations show that the integration challenges did not bring the two companies away from their clients and key business objectives. The planned synergy effect has proven to work in practice – two major players together mean a stronger team," Kestutis Sliuzas, CEO for Teo LT and Omnitel, said.
Consolidated income of Teo LT and Omnitel from private clients totaled 45.3 million euros, while income from business clients was 36.1 million euros and other income 1 million euros over the period.
Revenue from TV services swelled by 21.2% in the first quarter of this year, from IT services (excluding sales of IT equipment) grew by 14.8% and mobile services by 11.2%. Meanwhile, income from equipment sales dropped by 14.7% and fixed voice telephony by 9%.
In early January, Teo LT purchased Omnitel from TeliaSonera concern for 220 million euros, with 150 million euros for the deal borrowed from SEB and Danske Bank. At a meeting on April 26, Teo LT shareholders will decide on preparation of restructuring terms and conditions for Teo LT to incorporate its subsidiaries, Omnitel and Baltic Data Center.
Teo LT shares are quoted on the Main List of the Nasdaq Vilnius stock exchange.