Financial Services, Good for Business, Latvia, Telecomunications
International Internet Magazine. Baltic States news & analytics
Friday, 29.03.2024, 00:53
Lattelecom earnings - 44.6 mln euros in Q1 2017
Growth in traditional television has been maintained in
2017, with earnings rising by 4% compared with the same period last year. However,
the highest earnings growth has been from new business areas, including films,
series and live broadcasts in the Shortcut application,
equipment retailing, advertising as well as data centre services.
“In the first quarter, along with core business activities
like internet and TV services, we are continuing to develop new activities. One
of the company’s biggest steps was entering the electricity market, exceeding
initial business objectives and drawing public attention to advantageous stock
market opportunities. We have also entered the telemedicine field with a pilot
project for remote patient observation at Jūrmala Hospital, successfully
completed a pilot project for monitoring manufacturing equipment and developed
other services,” says Lattelecom Board Chairman Juris
Gulbis.
Revenue from the film, serial and live broadcast application Shortcut rose
39% compared with the same period last year. From this year, they are available
not only on the internet and as downloadable apps for mobile devices but also
on Apple TV and Android TVTM devices. Earnings from equipment
retailing rose by 60% thanks to the increasing public awareness of Lattelecom stores,
the opening of a store in Latvia’s second largest city as well as attractive
interest-free hire purchase offers, which are now available to customers
besides existing Lattelecom clients.
Revenue from services to business clients has also risen in
2017. There was a 150% increase in revenue from advertising placed on channels
owned (360TV and STV Pirmā!, which saw increased
ratings), and represented by Lattelecom, with the Kidzone, Sony and Discovery channels
added to the portfolio. Revenue from data transmission and transit wholesaling
rose by 44%, while data centre services brought in 5% more than in quarter 1 of
2016.
Lattelecom group offers electronic
communications solutions to households, small and medium enterprises, state and
municipal institutions and corporate clients. Lattelecom group
includes the companies– Lattelecom, Lattelecom BPO, Citrus
Solutions, Lattelecom Technology, Media 360 and Baltijas
Datoru akadēmija. Lattelecom also owns 23% of SIA
Latvijas Mobilais Telefons.
Lattelecom is owned by the state in the person
of the Privatisation Agency (51%) and the Danish-registered TeliaSonera subsidiary Tilts
Communications (49%).