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“As a result of the pandemic, the rapid digitalisation of both business processes and the daily lives of households due to the need to work or study remotely has significantly increased Internet consumption. At the same time, it has created a growing demand for modern, innovative business solutions. technologies and services that partially relieve employees and allow to redirect resources to perform more complex functions, thus facilitating daily tasks and helping to promote business growth, “says Juris Binde, President of LMT,
An innovative flight management system developed by LMT has been installed at the Riga International Bus Station, which will further allow the processing of most information related to passenger transportation in the digital environment. Until now, the bus station was managed by the dispatching service, performing a large part of the activities manually. The new system is able to automate and modernize several bus station operation processes, significantly simplifying the daily life of bus station employees. Now all the current information from “Road Transport Directorates“(ATD) and for carriers, the system processes automatically, recognizing and recording all buses in the bus terminal area using artificial intelligence and computer vision.
The planned contribution to the development of business solutions could also be significant Baltic acquisition of the Santa Monica Networks (“SMN”) group of data networks and IT security solutions. On May 31, the parties signed a share purchase agreement, which provides that LMT will become a 100% owner of SMN. The deal, which is still being evaluated by Latvian and Lithuanian competition supervisors, will allow both companies to implement fifth-generation network solutions faster and more efficiently.
In the first six months of 2021, LMT purposefully continued the next generation of data transmissions – 5G – implementation in Latvia. In May, the first customers received 5G Internet routers created in cooperation between LMT and MikroTik.
LMT’s turnover in the first six months of 2021 was 119.5 million euros, exceeding the indicators of the first half of last year by 10.3%, while profitability (EBITDA or earnings before interest, taxes, depreciation and amortization) increased by 9, 3% to 38.7 million euros. The number of customer connections of the company has increased to 1.34 million.
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