Domestic operations push OTE Group results in Q2

10 Aug 2018

Greece-based OTE Group has reported revenues of EUR959.1 million (USD1.1 billion) for the second quarter of 2018, up 2.2% from the year-earlier period. Adjusted EBITDA climbed 1.6% to EUR319.0 million, while adjusted net profit was up 11.8% y-o-y at EUR45.6 million. Turnover in Greece was up by EUR18.4 million at EUR711.3 million, while sales in Romania grew 0.8% to EUR237.8 million. Operations in Albania accounted for EUR17.2 million in sales, unchanged y-o-y.

Mobile subscriptions in Greece reached 8.16 million at end-June 2018, up from 7.74 million a year before, while fixed broadband customers rose from 1.68 million to 1.83 million over the same period. Mobile customer numbers in Romania dropped by 3.4% to 4.68 million, while there was a 3.5% fall in Albania to 1.80 million.

In its press release the telco stated: ‘OTE expects the positive trends of the first half of 2018 to continue in the balance of the year, particularly in its domestic market. The recovering economic environment in Greece should provide a favourable background in fixed and mobile telecommunication services, with continuing growth expected in mobile data and broadband. The extended reach of advanced data networks, in both fixed and mobile, drives increased customer reliance on OTE services, supporting its revenue base. Encouraging operational progress is being made in Romania, particularly in mobile.’

Greece, Cosmote, OTE Group