LMT Group Half-Year Revenue Reaches €169.3 Million; Investment in Network and New Technologies

LMT Group has published its half-year financial results, showing revenue of €169.3 million. EBITDA for the first six months increased by 2.5% to €47.4 million. The number of customer connections grew by 30,000, reaching a total of 1.554 million.

Investments in network and infrastructure development in the first half totaled €13.3 million. These funds were used to build, modernize, or expand more than 220 mobile base stations, bringing the total number of base stations to over 1,700. LMT plans to invest more than €38 million in network and infrastructure development by 2026.

The company is actively working on international projects. In cooperation with the European Space Agency, it is developing an IoT module that allows devices to automatically switch between mobile and satellite networks. Together with Latvenergo, an AI-based solution for bird identification in wind turbine parks is being created.

In private 5G networks, LMT has implemented a solution at the woodworking company Kurekss and started deployment at the agricultural company Pampāļi. Additionally, in partnership with Latvijas dzelzceļš, private 5G technology is being tested for railway infrastructure management.

LMT Group President Juris Binde stated that the company is transitioning from a telecommunications operator to a multi-industry technology company creating exportable products. The goal is to increase revenue by 60% to €500 million within five years.