Media center > Press releases > Year 2009

Press releases (Year 2009)

BITĖ Group reports fourth quarter and annual results

February 20, 2009

  • Yearly 2008 BITĖ Group revenues reach EUR 218,5 million, an increase of 5,3 percent from the same period of last year and Q4 2008 BITĖ Group revenues reach EUR 53,8 million, a decrease of 1,4 percent from the same period in 2007.
  • Yearly 2008 BITĖ Group EBITDA (earnings before interest, taxes, depreciation and amortization) reaches EUR 36,4 million, a decrease of 1,9 percent from 2007 and Q4 2008 BITĖ Group EBITDA reaches EUR 7,9 million, an increase of 6,6 percent from the same period in 2007.

"Bitė Lietuva" revenue grew by 1,6 percent in 2008

In 2008 telecommunications company “Bitė Lietuva” reports stable revenue growth , which increased by 1,6 percent compared with 2007, reaching LTL 712,1 million (EUR 206,2 million). During the same period the company‘s EBITDA (earnings before interest, taxes, depreciation and amortization) reached LTL 180 million (EUR 52 million) with a slight decrease of 2 percent compared to the year 2007, which was influenced by the increased operational costs.

During the fourth quarter of 2008 the revenue of telecommunications company “Bitė Lietuva” decreased by 6,7 percent compared with the same period in 2007, reaching LTL 171,7 million (EUR 49,7 million). During the same period the company‘s EBITDA (earnings before interest, taxes, depreciation and amortization) reached LTL 38,5 million (EUR 11 million) with a decrease of 9,9 percent compared to the fourth quarter of 2007.

"We continued to build strong relationship with our customers by offering qualitative products and fair pricing. The number of our mobile internet users has grown by 102.5 % showing a strong demand for new innovative services with flexible pricing, designed to meet users’ actual needs. We will continue providing clear benefits for our customers and being very flexible in terms of pricing simultaneously insuring high quality products and service of a broad variety", - says Fred Hrenchuk, CEO of Bite Group.

For the 2008, the revenue of telecommunications company “BITE Latvija”, owned by BITĖ Group, reached EUR 23 million (LTL 79,4 million) and increased by more than 37,4 percent compared with the year 2007. In the fourth quarter of 2007 the revenue of “BITE Latvija” reached EUR 6,7 million (LTL 23,1 million) resulting in growth of 52,3 percent in comparison to the same period in 2007, indicating strong growth of the company.