The year 2023 of the mobile network operator and technology innovation company LMT is marked by growth, innovation and export development. Compared to 2022, LMT Group's turnover increased by 6.9% last year, reaching 311.8 million euros, while the number of customer connections increased to 1.44 million. The company has invested 31.6 million euros in network and infrastructure development, and in total, more than 400 5G base stations are already available to residents in almost 200 populated areas throughout Latvia. LMT Group's profitability, or EBITDA, reached 90 million euros last year, which is 6.9% more than a year before.
“Last year, still shaken by global events and the effects of inflation, was marked by fierce competition in the telecommunications industry, persistent work on security solutions and the exploration of new 5G opportunities. Although Latvian residents are just starting to use the benefits of 5G, it is clear that in the next few years the benefits of 5G will be appreciated more and more and the amount of data consumption in the LMT network will increase significantly. That's why we invest much more than our competitors in network and technology development every year," LMT president Juris Binde describes the year 2023.
In order to further expand and develop the 5G infrastructure in Latvia, last year LMT signed an agreement with the European Investment Bank for financing the implementation of 5G technology in Latvia in the amount of 50 million euros, which will allow a total of 101 million euros to be invested in the national telecommunications infrastructure. Also, LMT purchased additional frequencies for even faster development of 5G services in the auction organized by the Public Service Regulatory Commission.
Various 5G solutions have become a part of other industries as well. LMT, in collaboration with the port services provider LVR Flote, has successfully conducted 5G marine technology trials in the waters of the Daugava, in the Freeport of Riga and on the ships of LVR Flote. Ensuring 5G coverage in open waters is complicated, so research and tests carried out worldwide so far rarely lead to a successful outcome. The trial marks a possible turning point for 5G connectivity at sea and raises reasonable expectations that 5G coverage could be provided in the Baltic Sea thanks to 5G marine technologies, turning it into a testbed for marine innovations.
Important news also in the field of export: the trial period of the smart traffic monitoring solution created by LMT has started in the Austrian city of Graz. It is planned to obtain real-time traffic data at one of the city's intersections with the most intensive traffic, to promote nature-friendly modes of transportation and improve bicycle traffic based on the analysis of the results. A similar intelligent traffic monitoring solution created by LMT has been operating since the spring of 2023 in Liepāja, at the intersection of Uliha and Robežu streets.
Last year, a lot of attention was paid to the contribution of LMT to enhancing national security and a lot has been done so that everyone in our country can feel safe. Now the next step has been taken – LMT has become one of the first Latvian companies to have its own National Guard subdivision. Also, the demonstration of the latest research and development initiatives in the 5G military app test environment was held at the Ādaži military base; the initiative was implemented by LMT in cooperation with the National Armed Forces and NATO's Allied Command Transformation. The Internet security solution "LMT Internet Guard" stopped an average of 2 million cyber threats per month until the middle of last year, but in December the number of threats prevented reached a new record of almost 8 million.
Whereas, at the Latvian Beekeepers Association event "Tastiest Honey of Latvia" held in July, honey collected in hives on the roof of the LMT technical building next to the 5G base station won the 1st place in the "Dark honey" nomination. Success confirms that technologies, when applied wisely, perfectly coexist with natural processes.