Q1 sales hold steady at OTE

11 May 2017

Greece’s OTE Group, which has operations in its home country, Romania and Albania, has reported revenues of EUR929.0 million (USD997 million) for the first three months of 2017, virtually unchanged from the year-earlier period, which it says is a positive result given the intensified competition in its domestic fixed line market and the economic situation in Greece. Domestic revenues rose 0.9% to EUR685.4 million due to strong demand for fixed broadband services, offsetting a weaker performance at its Greek mobile unit. Sales in Romania were down 1.5% y-o-y at EUR229.8 million, with a positive performance from fixed services failing to offset a decline at the mobile operation. The Group’s adjusted EBITDA fell 1.7% to EUR304.1 million, while adjusted net profit attributable to shareholders was up 4.1% at EUR38.2 million.

In operational terms, Greek unit Cosmote saw retail fixed broadband user numbers climb 7.2% y-o-y to 1.65 million, while mobile subscriptions rose by 3.4% to 7.73 million, although both average revenue per user (ARPU) and average minutes of use (MoU) per user were both down. In Romania, meanwhile, the firm saw a slight decline in fixed broadband customers to 1.18 million and mobile subscriber numbers dropped 11.2% to 5.02 million. Telekom Albania reported a 7.2% annual rise in mobile users, to reach 1.83 million at the end of March 2017.