OTE, Cosmote Q3 figures released

26 Nov 2008

Total revenues of the Greek OTE Group reached EUR1.639 billion (USD2.116 billion) in the third quarter of 2008, up by 0.7% year-on-year, the company announced in an earnings release this morning. Consolidated net income in the three months ended 30 September rose by 29.5% year-on-year to EUR201 million, and operating income before depreciation and amortisation (OIBDA) climbed 1.2% in the same period, to EUR620 million. Greece’s incumbent fixed line operator, which consolidates the Cosmote international mobile group in its results, said that profits were driven by outstanding performance across all mobile units, whilst domestic wireline operations were impacted by ‘aggressive competitive pricing’, although it flagged up ‘resilient’ performance at its Romanian fixed line subsidiary RomTelecom.

In Greece, as of the end of September 2008, OTE’s total retail and wholesale ADSL customers (which excludes unbundled local loops) exceeded 924,000 (up from 892,500 three months previously), and it said that its retail broadband customers continued to increase in the quarter, although it did not break down the split between retail and wholesale. The telco also said that the total Greek ADSL market exceeded 1.5 million subscribers at the end of the quarter, compared to slightly less than 1.4 million at the end of June 2008.

Mobile arm Cosmote, which includes operations in Greece (Cosmote Greece), Albania (AMC), Bulgaria (GloBul), Macedonia (FYROM) (CosmoFon) and Romania (Cosmote Romania), saw total GSM subscribers reach 18.655 million at the end of 3Q08, up by 32.4% year-on-year, following net additions in the third quarter of 1.226 million. Cosmote Greece added 490,000 net new subscribers in three months to take its total base to 7.411 million, an increase of 24.8% on the same point last year.

Greece, Cosmote, Cosmote (old)