March 06, 2015 9:27 AM ET

Wireless Telecommunication Services

Company Overview of Latvijas Mobilais Telefons SIA

Company Overview

Latvijas Mobilais Telefons SIA operates mobile communications networks in Latvia. It offers voice transmission, data transmission, wireless Internet access, WAP services, mobile banking, GPRS services, international roaming services, M2M solutions, callback services, and handsets for corporate customers. It sells its products through dealers. The company was founded in 1992 and is based in Riga, Latvia. As of April 14, 2008, Latvijas Mobilais Telefons SIA operates as a subsidiary of TeliaSonera Aktiebolag (publ).

Ropazu iela 6

Riga,  1039

Latvia

Founded in 1992

Phone:

371 2934 0000

Fax:

371 6777 3707

Key Executives for Latvijas Mobilais Telefons SIA

Latvijas Mobilais Telefons SIA does not have any Key Executives recorded.

Latvijas Mobilais Telefons SIA Key Developments

LMT Reports Earnings Results for the Year 2014

LMT reported earnings results for the year 2014. For the period, the company's net profit declined to EUR 22 million, from EUR 26 million the year before. Revenues amounted to EUR 161.3 million.

Latvijas Mobilais Telefons Announces Earnings Results for the Nine Months Ended September 2014

Lat vijas Mobilais Telefons announced earnings results for the nine months ended September 2014. For the period, the company generated EUR 123 million in turnover, down 5% from the same period in 2013. EBITDA (earnings before interest, taxes, depreciation and amortization) was EUR 38 million, up 1% year-on-year.

Latvijas Mobilais Telefons Invests €85 Million in Data Transmission Network

Latvijas Mobilais Telefons has invested €85 million in development of the data transmition network. LMT opened the 500th 4G base station in Subate, southeastern Latvia, thus LMT has 52 4G base stations in Latvia's western region of Kurzeme, 88 stations in the southern region of Zemgale, 60 stations in the eastern region of Latgale, 101 stations in the northeastern region of Vidzeme and 199 4G base stations in Riga and the Riga region. LMT plans to open about 100 more 4G base stations in Latvia in 2014, and by the end of 2015 the network might cover the whole country. According to the company, the investments in upgrading of the network in 2015 are planned at €43 million. The company's vice-president Ingmars Pukis underscored the necessity for fast and good quality Internet not only in Riga, but also in Latvia's regions, adding that people's habits have changed through years and initially people used mobile phones only for making calls, but now they tend to use other functions more often. In his words, broadband Internet currently is used by 140,000 households in Latvia, while LMT 4G network is available to 72% of Latvia's residents.

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