Good for Business, Latvia, Markets and Companies, Technology, Telecomunications

The company informed LETA that the largest increase – 12% – was registered in the television business, while income from broadband services increased 3%, as compared with the respective period last year.

The number of Lattelecom optic Internet users increased 13%, reaching 490,000 households in Latvia. The company has launched a large-scale Internet network modernization project, investing EUR 3.5 million in it to provide faster Internet connection to 180,000 clients outside city centers.

"We want to provide everyone with equal technological opportunities, regardless of their place of residence. The future of Latvia is related to the availability of technology for the residents, and it is a platform of the information age, allowing to achieve higher living standards. I wish to remind that Latvia achieved Europe's goal to provide half of the country's residents with Internet connection of up to 100 Mbps already in 2014," the company's CEO Juris Gulbis says.

As reported, Lattelecom operated with a net profit of EUR 30.1 million in 2014, which is 7% more than in 2013, the company previously informed LETA. Meanwhile, Lattelecom Group's normalized earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 4% in 2014, reaching EUR 72 million.

Lattelecom Group includes five companies – Lattelecom, Lattelecom BPO, Citrus Solutions, Lattelecom Technology, and Baltijas Datoru akademija. Lattelecom also owns 23% of shares in Latvijas Mobilais Telefons.