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Meanwhile, profits reached EUR 29 mln.

LMT's EBITDA increased to EUR 66 mln in 2018, 3% up from 2017.

According to LMT representatives, the growth was driven by increasing demand for mobile internet connections, both at home and at work. To meet the increasing demand, the company has been increasing the mobile internet network's capacity, and invested over EUR 27 mln in the development of network and services so far this year.

In the meantime, LMT continues preparations for the launch of 5G network - thus far, the company has set up more than a hundred 5G-compatible base stations.

LMT's 4G network has been exceptionally successful, in terms of mobile internet availability and average mobile internet consumption, therefore the company is confident that it will also be the leading mobile network operator in Latvia once the 5G network launches, said LMT President Juris Binde. LMT hopes to launch its 5G network already in 2019.

LMT's number of connections amounted to 1.29 mln at end-2018, which was by four percent more than the previous year.

As reported, LMT saw its turnover grow 3.7% y-o-y to EUR 163.664 in 2017, while the company’s profit that year rose by 26.2% to EUR 30.674 mln.

LMT was registered in 1992 as the first mobile operator in Latvia. Sonera Holding and Telia Company each own 24.5% of LMT shares, Lattelecom and Latvian State Radio and Television Center - 23% each, and Latvian Privatization Agency - 5%.