On 4 April 2024, the Board of Telia Lietuva, AB (hereinafter “Telia Lietuva” or “the Company”) decided:
– To approve the audited annual financial statements of the Company for the year 2023, prepared according to the International Financial Reporting Standards, and to submit them to the Company’s Annual General Meeting of Shareholders.
The audited Telia Lietuva results for the year 2023 were the same as the results for the 12 months of 2023 that were announced on 26 January 2024: revenue amounted to EUR 476.6 million (EUR 444.6 million in 2022), EBITDA amounted to EUR 165.2 million (EUR 147.5 million), and profit for the period was EUR 63.6 million (EUR 56.4million). During the audit an amount of free cash flow for the year 2023 was corrected to EUR 80.4 million (EUR 34.6 million in 2022).
– To approve the Company’s Annual and Sustainability Report for the year 2023, prepared by the Company and assessed by the auditors, and to present it to the Company’s Annual General Meeting of Shareholders.
– To approve the draft of the Company’s profit allocation for the year 2023 and to propose for the Annual General Meeting of Shareholders to allocate the profit according to the draft of profit allocation: from the Company’s distributable profit of EUR 170,974 thousand to allocate EUR 52,435 thousand for the payment of dividends for the year 2023, i.e. EUR 0.09 dividend per share, and carry forward to the next financial year an amount of EUR 118,539 thousand as retained earnings (undistributed profit). To allocate EUR 37 thousand for tantiemes for the year 2023 to two independent members of the Board – Leda Iržikevičienė and Mindaugas Glodas – EUR 18.5 thousand each.
The Board has revised the guidelines for the Company’s dividend payout. The revised Company’s dividend policy provides that the Company must maintain the net debt to EBITDA ratio not higher than 1.5 and to pay out not more than 80% of free cash flow and not more than 100% of the Company’s net profit as dividends.
– To convoke the Annual General Meeting of Shareholders in a headquarters of Telia Lietuva, Saltoniškių str. 7A, Vilnius, Lithuania, at 13.00 on 26 April 2024, and to propose to the Annual General Meeting of Shareholders the following draft agenda:
1. Presentation by the Company’s auditor.
2. Approval of the Company’s annual financial statements for the year 2023 and presentation of the Company’s annual report for the year 2023.
3. Allocation of the Company’s profit for the year 2023.
4. Approval of the Company’s Remuneration Report for the year 2023.
5. Approval of new edition of the Company’s CEO and Board members remuneration policy.
6. Regarding the Company’s auditor.
7. Election of the Company’s Board members.
8. Regarding the implementation of decisions.
ENCL.: Telia Lietuva, AB Annual and Sustainability Report, Financial Statements and Independent Auditor’s Report for the year ended 31 December 2023.
Darius Džiaugys,
Head of Investor Relations,
tel. +370 5 236 7878,
e-mail: darius.dziaugys@telia.lt
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