Turnover of Mikrotīkls reached 353.6 MEUR

In 2020, SIA Mikrotīkls turnover reached 353.6 million euros. This represents an increase of 24.93% compared to the previous year. The company closed last year with a profit of 82.4 million euros.

Sales of data communication equipment accounted for 98.2% of the total turnover of Mikrotīkls last year, while the remainder came from the provision of services, according to Klientu portfelis.

Largest Market: the U.S.

The U.S. market accounted for 55 million euros of the 2020 turnover, while Russia accounted for 24.4 million euros and Poland 32.6 million euros. The company also sold its equipment in the Czech Republic (21.6 million euros), Indonesia (21.8 million euros), the United Arab Emirates (16.7 million euros), Italy (7.7 million euros), Spain (8.2 million euros), Germany (8.4 million euros), and other countries.

In 2020, demand for high-speed home-connection devices continued to grow, significantly boosted by the massive shift towards remote working because of the COVID-19 pandemic.

“The company successfully launched several new products in the mobile connectivity (4G/LTE) segment. As a result of production planning, we managed to react promptly to changes in demand and increase our market share in the fixed home equipment segment,” the management report of SIA Mikrotīkls states.

The population’s increased use of data transmission services caused by the pandemic has also contributed to the increase in demand for central routers and switches. As a result, the company was successful in introducing new products with 25 Gbps and 40 Gbps ports. This year, the company plans to launch high-speed routers and high-throughput switches with 100 Gbps ports.

Last year, SIA Mikrotīkls provided jobs to 316 employees, according to information available in Lursoft. Last year, the company paid 4.5 million euros in state social insurance mandatory contributions and 2.9 million euros in personal income tax.

Developing 5G Technologies

Last year, Mikrotīkls continued its work on the development of next-generation mobile connectivity equipment. “Chateau 5G equipment is already being installed for LMT customers and for several international mobile operators outside Latvia,” the company said.

In May, 5G internet routers developed in cooperation between Latvian innovation technology companies LMT and Mikrotīkls were delivered to the first customers, Labs of Latvia wrote.

“The technological advancement of our future will be only as strong as the work and resources we put into technology today,” said John Tully, co-owner and chairman of the board at Mikrotīkls.

He said that until recently, 5G was only talked about as an innovative idea, but now we can see the result of dedicated work: the first 5G routers manufactured in Latvia, which will enable high-capacity data transmission in Latvian homes.

 “We see how, in cooperation with LMT, 5G capabilities are becoming more and more accessible in everyday life, while at the same time offering new opportunities for Latvia to export technologies manufactured here,” says Tully. 

Investing in Science

Mikrotīkls is well-known not only as one of Latvia’s largest technology companies. The company also invests in Latvian science and supports the Riga Technical University Talent Programme, wrote Labs of Latvia. Mikrotīkls also supports nine research projects at the University of Latvia in the life sciences and medicine, Labs of Latvia wrote.

In 2019, Mikrotīkls received an award from the World Intellectual Property Organisation for its use of the intellectual property to support innovative commercial strategies, as well as knowledge-based and continuous development-oriented entrepreneurship, Labs of Latvia wrote.

Researching Quantum Technologies

In 2021, LMT, the Institute of Mathematics and Informatics of the University of Latvia, and Mikrotīkls signed a memorandum of cooperation on joint research and development of quantum technologies, wrote Labs of Latvia.

“New technological opportunities are not just numbers on paper, they are new products, services, and opportunities in all fields: business, science, education, and medicine. The more effort and resources we invest in technology today, the more technologically advanced we will become in the future. This will better prepare humanity for unknown and unpredictable challenges,” said Tully.

Source: labsoflatvia.com