OTE’s EBITDA drops 7.4% on 10.2% turnover slump

9 Nov 2012

Greece’s OTE, part of the Deutsche Telekom group, has reported that its EBITDA in the three months ended 30 September 2012 fell by 7.4% year-on-year to EUR430.1 million (USD548.4 million), on consolidated mobile, fixed and broadband revenues that fell by 10.2% y-o-y to EUR1.18 billion, although net profit was raised by 4.4% to EUR109.0 million. In the telco’s domestic market, fixed line revenues fell by 12.3% y-o-y to EUR424 million in Q3 2012, while sales at mobile operator Cosmote fell by a similar rate, by 11.7% to EUR394 million. OTE attributed the slump largely to wholesale termination rate cuts as well as poor economic conditions.

Greece, Cosmote, Cosmote (old)