OTE’s 4Q fixed line revenues down 4.7%, mobile sales up 15%

28 Feb 2006

Greek telecoms group OTE posted an 8.7% year-on-year increase in total revenues to EUR1.398 billion (USD1.658 billion) in the fourth quarter, whilst 4Q operating income more than doubled to EUR173.6 million, up from EUR84.7 million in the same period of 2004. Quarterly net profit fell by 37% y-o-y to EUR37.1 million, down from EUR58.9 million a year before, which the company attributed to a tax credit recorded during the quarter. EBITDA rose by 32.3% y-o-y to EUR449.9 million. Fixed line revenues fell by 4.7% in the quarter to EUR128.5 million, driven down by fixed-to-mobile substitution and competition from alternative operators including Telepassport and Lannet. Turnover from mobile services in the period increased by nearly 15% to EUR449.7 million, up from EUR392.2 million in 4Q04. For full-year 2005, OTE posted a net loss of EUR294.1 million, compared to net profit of EUR171.3 million in 2004, after taking a EUR912.9 million hit in the third quarter to cover a voluntary redundancy programme.

Greece, Cosmote