Teo LT, AB reported earnings results for the fourth quarter and full year ended December 31, 2014. The total consolidated company's revenue for the fourth quarter of 2014 was LTL 185 million (EUR 53.4 million), an increase by 3.2% over the total revenue of LTL 179 million (EUR 51.8 million) for the fourth quarter of 2013. EBITDA for the fourth quarter of 2014 was up 2.3% to LTL 67 million (EUR 19.3 million) over LTL 65 million (EUR 18.9 million) in the fourth quarter of 2013. EBITDA margin amounted to 36.1% (36.4% in 2013). Profit before income tax for the fourth quarter of 2014 was up by 2.9% and amounted to LTL 35 million (EUR 10.2 million). LTL 34 million (EUR 9.9 million) a year ago. Profit for the quarter amounted to LTL 32 million (EUR 9.3 million), while a year ago it was LTL 31 million (EUR 8.9 million), an increase by 3.8%. The profit margin was 17.4% (17.3% a year ago).

The total revenue for the twelve months of 2014 was LTL 698 million (EUR 202.3 million), a decrease by 3.1% over the total revenue of LTL 721 million (EUR 208.7 million) for the twelve months of 2013. EBITDA for the twelve months of 2014 was down by 7.4% to LTL 271 million (EUR 78.5 million) over LTL 293 million (EUR 84.8 million) for the same period year ago. EBITDA margin declined and amounted 38.8% (40.6% in 2013). EBITDA excluding non-recurring items over the year went down by 3.7% while EBITDA margin excluding non-recurring items stood at 41.1%. Profit before income tax for the twelve months of 2014 was down by 11.5% and amounted to LTL 147 million (EUR 42.4 million). LTL 166 million (EUR 47.9 million) a year ago. Profit before income tax excluding non-recurring items was by 4.8% lower than in 2013. Profit for the year amounted to LTL 131 million (EUR 38.1 million), a decrease by 11.9% over the profit of LTL 149 million (EUR 43.2 million) for the same period year ago. The profit margin was 18.8% (20.7% a year ago). Profit for the period excluding non-recurring items in 2014 was by 4.5% lower than in 2013 and profit margin excluding non-recurring items was 21.1%.