Presentation on theme: "Financial Results for the First Quarter of 2004. Highlights – First Quarter of 2004 On 2 January 2004 Arunas Siksta took the office of General Manager."— Presentation transcript:
Financial Results for the First Quarter of 2004
Highlights – First Quarter of 2004 On 2 January 2004 Arunas Siksta took the office of General Manager of Lietuvos Telekomas. In February, a new management structure of Lietuvos Telekomas was approved and implemented as of 1 April UAB Comliet, a subsidiary of Lietuvos Telekomas, transferred its telecommunication service implementation and maintenance activities to Lietuvos Telekomas as of 1 April UAB Comliet considers sell off of its construction business. UAB Verslo Portalas, joint venture of Lietuvos Telekomas and Verslo Zinios, will terminate its activities and will be liquidated. UAB Lintel and UAB Lintkom, both being members of Lietuvos Telekomas Group, have started reorganisation process. UAB Lintkom will be merged into UAB Lintel.
AB Lietuvos Telekomas Shareholders Amber Teleholding A/S is a fully owned subsidiary of TeliaSonera AB. During January – March 2004 State of Lithuania reduced its shareholding from 8.12% to 7.93% by giving shares of the Company to the citizens of Lithuania as a compensation for realty redeemable by the State of Lithuania. As of 31 March ,203,890 shares of the Company (13.77% of the total share capital) were represented by 11,220,389 GDRs of AB Lietuvos Telekomas. UAB Lintkom, a member of Lietuvos Telekomas Group, holds treasury stocks. (as of 31 March 2004)
Structure of Lietuvos Telekomas Group AB Lietuvos Telekomas (fixed-line telephony, data communication, fixed-line network, wholesales and Internet-related services) UAB Voicecom (VoIP services) UAB Lintkom* (treasury stocks) UAB Lintel* (directory inquiry, telemarketing and contact center services) UAB Lietuvos Telekomo Verslo Sprendimai (business solutions to largest customers) UAB Comliet (telecommunications and low voltage networks construction services) UAB TietoEnator Consulting (IT-related consultancy services) UAB Verslo Portalas** (B2B portal) UAB Baltijos Informaciniu Duomenu Valdymo Centras (IT infrastructure services) 100 % Baltic Data Center SIA 55% Telegrupp AS 75 % Datu Tikli SIA 95 % Comliet- Kaliningrad 100 % UAB Sonex Komunikacijos VsI Lietuvos Telekomo Sporto Klubas (sports club) 100% 60% 30% 26% 100% * company under reorganisation; ** company under liquidation
Fixed-line Telephony Services Number of main lines in service During January – March 2004 number of main lines decreased by just 2.5 thousand. Tariffs for long-distance calls during peak time reduced by 35% to 0.26 litas and for subscribers to the new payment plan Miestai (Cities) even down to 0.12 litas. The Company improved its Local and Country payment plans by providing subscribers with additional 30 hours of free-of-charge calls during off-peak time. Compared with Q1 2003, local calls traffic in Q was up by 11%, long-distance up by 19%, fixed to mobile up by 42%.
Internet-related Services Number of ADSL access points In the first quarter of 2004 the Company launched a new dial-up Internet access payment plan, Internet, that offers 30 hours per month for just 10 litas. At the end of March the number of Internet payment plan users was 12.5 thousand and total number of dial-up Internet access service users was 40.6 thousand. DSL service users were offered a new voice communication over the Internet service.
Key Financial Figures – First Quarter of 2004 Group, according to IFRS, unaudited Revenue amounted to LTL 185 million, a decrease by 9.4%, year–on-year. Operating expenses, including additional employee redundancy costs of LTL 7 million, were cut down by 2.5% to LTL 99 million, y-o-y. EBITDA amounted to LTL 86 million and EBITDA margin was 46.2%. Underlying EBITDA (excluding employee redundancy costs) was 50%. Profit before profit tax was LTL 6 million and net profit was LTL 4 million. During the quarter net cash flow from operating activities was LTL 60 million. Due to repayment of loans cash and cash equivalents decreased by LTL 50 million. Investments amounted to LTL 11 million.
Profit (Loss) Statement (in million of litas) Group, according to IFRS, unaudited
Reclassified Breakdown of Revenue (in million of litas) Group, according to IFRS, unaudited In the fourth quarter of 2003, Lietuvos Telekomas has adjusted its revenue grouping following the latest standard used by TeliaSonera AB. Revenue from ISDN services were moved from the Internet and Data Communication Services group and Contact Centre services (Inquiry service 118, Operator-assisted services) from the Other Services group to the Fixed-line Telephony Services group.
Revenue, EBITDA and EBITDA margin (in million of litas) Group, according to IFRS, unaudited Revenue by quarters EBITDA & EBITDA margin In first quarter of 2004, the Company had additional employee redundancy costs of LTL 7 million.
Cash Flow and Net Debt (in million of litas) Group, according to IFRS, unaudited Cash Flow Net Debt/EquityNet Debt In March, the Company redeemed its LTL 150 million Eurobond issue. During the quarter cash and cash equivalents decreased by LTL 50 million.
Investments and Network Digitalisation Network Digitalisation, in total Groups Investments in million of litas On 31 March 2004, total number of ISDN channels was 39.1 thousand, total number of ADSL access points was 30.8 thousand and number of MPLS VPN access points was 809.
Employees Number of Lietuvos Telekomas Group employees at the end of the period Main lines per employee in the core business at the end of the period
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