Telia Lietuva (TEL1L) Q4 2024 earnings summary

Executive summary

• Service revenue increased by 4.6% year-over-year, driven by growth in billed mobile services.

• Adjusted EBITDA margin rose to 36% for 2024, up from 35.4% in 2023.

• Net profit grew 12.6% year-over-year; free cash flow up 46.4%.

• Workforce reduced by nearly 200 positions, including vacancies, as part of a major change program.

• Sustainability performance ranked in the top 1% globally by EcoVadis, earning a Platinum Medal.

Financial highlights

• Total revenue for 2024 reached €491.1m, up 3.1% from €476.6m in 2023.

• Adjusted EBITDA (excluding non-recurring items) was €177.0m, up 5%.

• Net profit for 2024 was €80.4m, a 12.6% increase year-over-year.

• Free cash flow for 2024 surged 46.4% to €117.7m.

• Capital investments for 2024 totaled €62.8m (+3.7%).

Outlook and guidance

• Positioned for a strong start to 2025, focusing on customer-centricity, efficiency, and leveraging digitalization and AI.

• Telia Company Group is implementing a change program to simplify operations.