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International Internet Magazine. Baltic States news & analytics Monday, 20.05.2019, 01:49

Lattelecom the leading telecommunications company in Latvia in 2017

BC, Riga, 02.11.2018.Print version
In terms of turnover, Lattelecom was the leading telecommunications company in Latvia last year, according to and LETA agency's Latvian Business Annual Report 2018.

Lattelecom posted EUR 173.851 mln in turnover last year, which is 4.2% more than in 2016.

Mobile network operator Latvijas Mobilais Telefons is ranked second with turnover at EUR 163.664 mln last year, 3.7% up on 2016, while Tele2 Latvia, whose turnover increased 12.6% to EUR 125.208 mln last year, is third.

Tele2 is the most profitable company in the industry, with profit margin at 22.9%.

Bite Latvija was the fourth largest telecommunications company in Latvia last year with turnover at EUR 91.642 mln (16% increase), LMT Retail & Logistics was fifth - EUR 81.789 mln (16.1% up). Belam Riga is sixth - EUR 24.831 mln (45.8% up), Huawei Technologies Latvia is seventh - EUR 22.735 mln (23% increase), Polaris TLC is eight - 21.352 miln, Citrus Solutions is in ninth place - 20.219 mln (28.2% down), and Xotel is tenth - EUR 19.249 mln (41.4% decrease).

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