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

BC, Riga, 25.04.2017.Print version
Lattelecom group earnings for the first quarter of 2017 totaled 44.6 mln euros, while EBITDA reached 16 mln euros. Lattelecom has gown a new business and with tet services it is entering a new sector, the Lattelecom representative told BC,

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 KidzoneSony 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– LattelecomLattelecom BPOCitrus Solutions, Lattelecom TechnologyMedia 360 and Baltijas Datoru akadēmijaLattelecom 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%).






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