Financial Services, Good for Business, Latvia, Technology, Telecomunications
International Internet Magazine. Baltic States news & analytics
Saturday, 27.04.2024, 04:30
Lattelecom turnover reaches 193,25 mln EUR
Total turnover reached 193.25 mln EUR while profits reached 32 mln EUR, which
equals the best results for the last seven years and will be paid in dividends
to the shareholders – the Republic of Latvia and Telia Company. In 2016 Lattelecom
paid taxes totalling 45 mln EUR and invested 32 mln EUR in developing and
improving services, including 7.5 mln EUR for core internet network infrastructure.
Revenue increased in almost all areas of activity, including both core
and new businesses. The most rapid development for new business was in
retailing, where turnover rose by 158%. Last year the advertising business
almost doubled, growing by 96%, with more significant growth from the internet
of things (+88%) and data centre services (+23%). For core businesses, the
largest growth in revenue was for wholesaling, construction and maintenance of
networks and engineering systems for buildings (+23%), as well as television
(+6%).
"In a world where the progress in digitalisation is measured not in
years but in months, it is especially important to provide qualitative, secure
and fast internet connections, therefore last year we made significant
investments in internet support technologies. We have also laid the foundations
for developing infrastructure and services for the internet of things, which is
currently one of the priorities of Lattelecom,”
says Lattelecom Chairman of the Board
Juris Gulbis. He says that in 2017 new services will be developed, and
investments will continue in quality TV content: improving and developing the
film, series and TV platform Shortcut, Lattelecom
Interactive and Terrestrial Televisions, pop-up channels and local content.
“Statistics from previous years show that total Lattelecom internet data flow grows by a factor of 1.3 – 2 annually.
This is due to increased speed for existing clients and changes in connection
technology, as well as increases in client numbers and data consumption. For
example, Interactive Television recording, archive and video rental has
increased from 85 to 120 Gbit/s in one year. Therefore, investments in
upgrading central internet routers and min data transmission nodes are very
important. Last year Lattelecom was
the first in Latvia to introduce 100 Gbit/s connections, increasing the
capacity of the main network, preventing the risk of overload, as well as
ensuring more intelligent blocking of attacks at the network level,” says Lattelecom Technology Service Director Uldis
Tatarčuks.
Lattelecom group
offers electronic communication solutions for households, small and medium enterprises,
state and municipal institutions, as well as corporate clients.
The Lattelecom includes Lattelecom, Lattelecom BPO, Citrus Solutions, Lattelecom Technology, Media 360 and Baltijas Datoru akadēmija. Lattelecom also owns 23% of SIA Latvijas Mobilais Telefons.