Mobile communications operator and technology innovation company LMT has invested 6.3 million euros in infrastructure development in the first three months of 2024, which is 13.2% more than in the same period last year. This year, 60 5G base stations were built or reconstructed, providing the largest 5G base station network in Latvia with 485 stations. The total number of LMT base stations has reached 1,620. Revenues from basic services and the number of customer connections have also increased – 6,000 new customers joined LMT at the beginning of the year, allowing to maintain a stable leading position in the number of connections among mobile operators.
“The year has started productively, although there is no shortage of challenges in the industry. The regional and global economy is still feeling the reverberations of last year’s global events and the effects of inflation, which is fueling competition in the telecommunications industry. As everywhere in the world, the inhabitants of Latvia also buy equipment less often – telephones are becoming more durable and long-lasting, replacement is no longer necessary so often. However, LMT’s operating income has increased at the beginning of this year, and the number of our customers’ connections is also increasing, judging by the quality of LMT’s services. As the use of 5G and the volume of data consumption in the LMT network grow significantly, we continue to invest in network and technology development significantly more than our competitors, which allows us to provide even more powerful communication options and even better quality services. This is appreciated by both existing and new customers, and in terms of the number of customer connections, we remain the largest mobile communications operator in Latvia,” says LMT president Juris Binde.
Taking into account the challenges in the industry, LMT’s turnover has fallen by 3% compared to the first quarter of last year and is 69.9 million euros, but the revenue from basic services in the first three months of this year is 1.2% higher than last year’s result and reaches 37.3 million euro.
The work on improving the technological environment also continued: in order to use unmanned aircraft or drones safely and in accordance with the rules, 700 participants of the LMT Learning Center’s drone pilot training program have already learned – state bodies, representatives of companies and private individuals. LMT is one of the three private bodies recognized by the Civil Aviation Agency for the examination of drone pilots, which has been training drone pilots for more than four years, offering both the basic regulatory course and the learning of specialized drone applications. LMT also regularly participates in various demonstrations, local and international projects, the latest of which is 5G4LIVES, during which the latest 5G technologies will be installed on the beaches of Vecāki and Ķīšezer and automated drone flights will be introduced in the work of the municipal police.
