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International Internet Magazine. Baltic States news & analytics Saturday, 20.04.2024, 08:16

Tele2 turnover down, gross profit up in Latvia in H1

BC, Riga, 21.07.2015.Print version
Mobile communications operator Tele2 turned over EUR 47.7 million in the first half of the year 2015, which is 2% less than in the respective period last year. Meanwhile, the company's EBITDA (earnings before interest, taxes, depreciation, and amortization) increased by 3% to EUR 14.8 million, as representatives of Tele2 informed LETA.

The company also invested EUR 5.8 million in its 4G network infrastructure development. "By investing 5.8 million euros, we accomplished the most important task of the first half of the year – to ensure 4G coverage for 90% of the country's population," according to Tele2 CEO Valdis Vancovics. "We will continue investing in and implementing new mobile Internet services," he added.

 

As reported, Tele2 turned over EUR 103 million and earned EUR 17.2 million last year.

 

The company's turnover reduced 6% last year, as compared with 2013, when Tele2 turned over EUR 110 million. Meanwhile, the company's profit went down 7% last year, as compared with 2013, when the profit reached EUR 18.5 million.

 

Tele2 launched operations in Latvia as Baltkom GSM in 1997, when it became the second mobile phone operator in the country. In 2000, Baltkom GSM was acquired by Sweden's Tele2 corporation, and changed its name accordingly.





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