STET Hellas announces top-line growth - profits up

5 Mar 2003

Greek mobile operator STET Hellas has reported a sharp increase in profit for 2002 on the back of continuing subscriber growth and a marked improvement in service revenues, which rose by 32% to EUR666.5 million, representing 95% of total revenues. EBITDA improved by 31.1% to EUR230.6 million and net income more than doubled to EUR76.4 million. At January 2003 STET Hellas was the third largest mobile operator in the country with 2.51 million subscribers (up 19% on twelve months before) and a 27% share of the market.