OTE Group reports ‘solid performance’ in Q1

10 May 2018

Greece’s OTE Group, which has operations in Greece, Romania and Albania, has reported a 3.6% rise in EBITDA for the three months to end-March 2018, to EUR315.1 million (USD372.7 million). Revenues fell slightly, from EUR929.0 million in 1Q17 to EUR921.3 million in the first quarter of 2018, while adjusted net profit attributable to shareholders jumped 32.5% to EUR50.6 million.

Greek subsidiary Cosmote claimed 8.05 million mobile customers at the end of March 2018, up from 7.73 million a year earlier, while its fixed broadband user base climbed 8.9% year-on-year to 1.80 million, including 405,321 fibre-optic subscriptions. In Romania, the mobile user total fell 6.8% to 4.68 million, while there was a 3.8% rise in Albanian customers, to 1.90 million.

Commenting on the results, OTE Group’s chairman and CEO Michael Tsamaz noted: ‘We started 2018 with a solid performance. Subscriber take-up for our high-speed fibre broadband service is driving retail revenue growth in Greece, as we further upgrade our network to offer more customers speeds of up to 200Mbps. We are also reaping the benefits of our superior mobile service, with data growth responding to our initiatives and revenues recovering.’

Albania, Greece, Romania, OTE Group