Hellas Online posts first-ever H1 net profit, although revenues fall 8%

22 Aug 2013

Greek alternative triple-play operator Hellas Online (HOL) has reported an 8.1% year-on-year fall in revenues to EUR112.85 million (USD151.17 million) in the first six months of 2013, despite a growing subscriber base, as all Greek telcos continued to feel pressure from the economy and competitive pricing as well as reduced wholesale network termination rates (imposed on both the fixed and mobile markets). However, HOL reversed a EUR6.5 million net loss in H1 2012 to post its first-ever first-half net profit of EUR2 million in January-June 2013, as six-month EBITDA improved by 3.4% year-on-year to EUR43.7 million – ‘a result of effective management of operating expenses’. HOL added that total local loop unbundled (LLU) subscriptions to its voice, broadband and IPTV services grew by 4.5% year-on-year to 509,000 at the end of June 2013, which it claimed gave it an overall market share of 27.5% in the Greek LLU network operator segment after winning ‘30%’ of the market’s net new LLU connections during the six-month period, its report said. The xDSL broadband, telephony and IPTV operator’s CAPEX in H1 2013 reached EUR16.2 million (including EUR9.9 million in Q2, up 48.5% year-on-year), taking its cumulative CAPEX total to EUR420.5 million since the beginning of 2006. HOL currently operates a 5,000km-plus proprietary fibre-optic transmission network, while its LLU access network can serve 72% of incumbent PSTN operator OTE’s lines, with 327 LLU colocations in OTE’s exchanges, reaching 50 counties and 141 cities.

Greece, Hellas Online (HOL)