OTE’s EBITDA slumps 7.8% on 7.1% revenue drop

1 Mar 2013

Greek full-service telco OTE has reported that its group earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 7.8% to EUR1.53 billion (USD2.00 billion) in 2012, on a 7.1% drop in revenues to EUR4.68 billion. However, the Deutsche Telekom subsidiary’s annual net profit near-quadrupled to EUR476.4 million, compared to EUR119.7 million the previous year, driven by the proceeds from the sale of assets; excluding one-off gains, twelve-month net income rose 16% to EUR363.5 million.

Greece, Cosmote