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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 06:56

LMT turnover and profit reduces in 2014

BC, Riga, 29.01.2015.Print version
Mobile phone operator Latvijas Mobilais Telefons (LMT) concluded 2014 with turnover of EUR 161.3 million, which is 6% less than in 2013, when the company operated with turnover of EUR 172 million, LMT CEO Juris Binde told the press representatives today, cites LETA.

Meanwhile, LMT net profit in 2014 reached EUR 22 million, which is about 14% less than in 2013, when the company earned EUR 25.6 million.

 

Binde explains the fall is mostly due to investments in modernization of the company's mobile telephony network. If not for these investments, the company's profit would be the same as in 2013.

 

In 2014, LMT invested EUR 28 million in network development and modernization. The total amount of investments in 23 years since the company was registered is EUR 493 million.

 

In 2015, LMT hopes to increase its turnover by 2-7%, and profit by 1-5%. Capital investment forecast in 2015 is the same as in 2014 – about EUR 28 million.

 

49% of LMT shares belong to the Nordic telecommunications group TeliaSonera, 23% – Lattelecom, 23% – Latvijas Valsts radio un televizijas centrs, 5% – the Latvian Privatization Agency. LMT was founded in 1992.






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