Cosmote sets three-year performance targets

16 Nov 2006

Following better than expected results in the first nine months of 2006, Greek mobile group Cosmote has set new financial targets for the period 2007-09. For 2007, it aims for revenue growth of over 30%, EBITDA growth above 15% and capital expenditure of EUR450 million. For the three years to 2009, the combined annual growth rates for revenue and EBITDA are expected to exceed 15%, with capex expected to decline by 10%. Last week the operator reported that its nine-month revenues climbed 26.2% year-on-year to EUR1.63 billion, while EBITDA rose by 12.9% to EUR643.1 million. Cosmote, 67%-owned by Greek incumbent telco OTE, has mobile operations in Greece, Bulgaria, Romania, Macedonia and Albania.

Greece, Cosmote (old)