Lattelecom revenue reaches €142.6 million
Published: 20.10.2016
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Lattelecom group revenue increased by 3%, or €3.9 million, in the first nine months of this year, reaching €142.6 million. The third quarter showed a positive trend in television services, which grew by 6% compared with the corresponding period last year. In particular, the number of Lattelecom internet television users doubled following the launch of the Shortcut app in July this year.
Revenue from the data centre business also increased, growing by 23% in the first nine months of 2016. Expanding its data centre services exports, on 13 October Lattelecom and Ukrtelekom, Ukraine’s largest fixed-line and internet operator, concluded an agreement on cooperation in the Ukrainian market. Going forward, Ukrtelekom will provide local companies with the opportunity to rent a Lattelecom virtual server and a “cloud” data centre (IaaS) in Dattum, one of the most secure data centres in Northern Europe.
“We are particularly proud of the Shortcut television and video content app, which makes it possible to watch favourite series and films anytime and anywhere. We have announced our presence in the sports content field more prominently than ever before, offering the best basketball on Lattelecom television and the Shortcut app—the opportunity to watch our basketball players perform live in games of the OlyBet Latvian Basketball League, the National Basketball Association (NBA), Spain’s top division (ACB), the VTB United League and the FIBA Champions League,” emphasises Juris Gulbis, Chairman of the Lattelecom Management Board.
Compared with the first nine months of last year, revenue from advertising placement on Lattelecom channels doubled this year, while revenue from the remote data reading service—telemetry—tripled.
Lattelecom’s retail revenue tripled, driven by growing interest in the split-payment service in the private and business segments, as well as the expansion of its store network, with new Lattelecom stores opening in Cēsis and Dobele during the summer.
The Lattelecom group offers electronic communications solutions to households, small and medium-sized enterprises, government and municipal institutions, as well as corporate customers. The Lattelecom group comprises Lattelecom, Lattelecom BPO, Citrus Solutions, Lattelecom Technology, Media 360 and the Baltic Computer Academy. Lattelecom also owns a 23% stake in SIA Latvijas Mobilais Telefons.
Lattelecom is owned by the state, through the Privatisation Agency (51%), and by Tilts Communications, a subsidiary of TeliaCompany registered in Denmark (49%).
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