Good for Business

She said that LMT plans to significantly increase its operations on foreign markets and aims raise the share of exports to 30%  of total turnover.

“This is possible thanks to LMT’s innovation projects and the arrival of 5G, which will provide new opportunities for a much more intensive use of the mobile Internet, as well as industrial connections to automate work in factories, healthcare, agriculture, transport and many other areas,” Lidere said.

As reported, LMT turned over EUR 216 million in 2018, up 6%  against a year before, while its profit was EUR 29 million. The company’s EBITDA (earnings before interest, taxes, depreciation and amortization) was EUR 66 mln in 2018.

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%.