Higher turnover, more customers and substantial investment

As a result of its smart development strategy, higher consumption of mobile data and the development of new services the LMT continued stable growth in the first quarter of 2018 year on year. During this period of time the turnover of LMT grew by 5.3% amounting to 49.6 million EUR, while the number of customer connections increased by 4.6% reaching 1.26 million. Investment in technological infrastructure and new competitive services amounted to 5.9 million EUR – 5.6% more than year on year.

“February of 2018 is historic as it was the first time, when the LMT participated in the largest global mobile technology event Mobile World Congress in Barcelona that received more than 107 thousand visitors. We presented several innovations developed in Latvia – the latest 5G, as well as smart urban, drone, autonomous car, defence and mobile content solutions. Together with local and foreign companies, as well as universities we continue the development of innovations related to the 5G network and the Internet of Things to produce ever more competitive products,” underlines Juris Binde, the President of LMT.

To get ready for 5G, during the first quarter of 2018 we started tests in the 1500 MHz range. We are also in the process of introducing Internet Protocol version 6 (IPv6) and continue construction of new 5G compatible base stations. To continue cooperation with the defence sector, the LMT for the first time ever participated in the NATO Cooperative Cyber Defence Centre of Excellence exercise with our cyber range. Furthermore, in cooperation with the University of Latvia we intend to present a unique research platform for the analysis of big data this year. By relying on mobile activity data it is possible to make more economically justified decisions for the purposes of analyzing the economic activity of local governments, urban environments, transport flows and planning of services development.

The Mobile Internet is also becoming increasingly popular. During the first quarter of this year the number of customers enjoying the LMT Internet on Phone service increased by 19% and the volume of transmitted data by 61%. Moreover, in 2018 our business customers increasingly chose to rely on our innovative mobile business efficiency tools, including the mobile call center Call Manager and the Electronic Time Clock System.

LMT EBITDA (earnings before interest, taxes, depreciation, and amortization) increased by 7.4% reaching 16.1 million EUR.