Romania impacts OTE results

10 May 2019

Greek telecoms group OTE has reported a 0.9% drop in first-quarter adjusted EBITDA to EUR310.6 million (USD348 million), with growth in its home market failing to offset a slowdown at its operations in Romania. Revenues were up 0.2% year-on-year at EUR908.6 million, as a solid top-line performance in Greece, up EUR11.5 million, more than offset a EUR9.9 million drop in revenues in Romania. The results regard OTE’s mobile business in Albania as discontinued operations, with the EUR50 million sale (to Albania Telecom Invest) having been completed on 8 May.

OTE’s Greek unit Cosmote had 7.68 million mobile subscribers at the end of March 2019, down 4.6% from a year earlier, while fixed broadband customers were up 6.5% to 1.92 million. Telekom Romania reported a 0.8% fall in mobile subscriptions to 4.65 million, with fixed broadband users dropping 4.5% to 1.12 million.