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In 2018, the company’s revenue from data, internet and television services rose 1.2% y-o-y to EUR 103.421 mln, and revenue from electronic communication services dropped 23.3% to EUR 27.372 mln. Meanwhile, related services brought in EUR 41.977 mln, up 19.6% against 2017, and revenue from selling electric power grew 8.9 times to EUR 5.514 mln.

In 2018, Tet also received EUR 246,081 compensations for the provision of the universal service in 2016.

According to the company’s report, provision of services to clients in foreign countries (mainly in the European Union) made up 9.6% of the company’s overall revenue last year.

In 2018, Tet continued to invest in its optical network, latest technologies and speeding up data transmission, as well as communications infrastructure.

Last year, Tet enhanced its TV service, launching a new entertainment brand Helio and continuing to develop Shortcut entertainment app.

Developing its electricity supply service, Tet conquered around 8% of the market in the household segment. The company’s data center business expanded by 25% and work began on a cloud computing platform.

In 2017, Tet raised turnover by 4.2% to EUR 173.851 mln and made a profit of EUR 39.772 mln, up 25.6% against a year before.

The company changed its name from Lattelecom to Tet on April 1, 2019.

Tet shareholders are the Latvian state (51%) and Scandinavian telecommunications group Telia Company’s subsidiary Tilts Communications (49%). Tet Group includes Tet, Citrus Solutions, Lattelecom Technology, Helio Media and Baltijas Datoru Akademija. Tet owns a 23% stake in Latvijas Mobilais Telefons (LMT) mobile operator.