Greek mobile growth boosts OTE in Q2

3 Aug 2017

Greece’s OTE Group has reported a 1.7% year-on-year fall in revenues for the three months to 30 June 2017, to EUR938.8 million (USD1.1 billion). Adjusted EBITDA climbed 1%, however, to EUR313.9 million, due in part to the domestic mobile market registering its first quarter of EBITDA growth in five years. Adjusted profit attributable to shareholders was up 6.5% at EUR40.8 million.

Domestic operating unit Cosmote claimed 7.74 million mobile customers at the end of June, up from 7.61 million twelve months before, while retail broadband subscriptions rose 6.8% to 1.68 million, with this attributed to the continued expansion of VDSL networks. In Romania, the number of mobile users fell 13.3% to 4.85 million, with the broadband user base stable at 1.19 million. Telekom Albania, meanwhile, registered a 7.5% growth in its mobile customer total to 1.86 million.

Michael Tsamaz, Chairman and CEO of OTE Group, commented: ‘We are continuing to invest aggressively in the solutions that will drive future growth and customer satisfaction … We are more than ever convinced this is the right approach as Greece shows promising early signs of recovery.’ He added, however, that performance in Romania and Albania remains ‘challenging’.