Fixed business helps keep OTE revenues stable

8 Aug 2019

OTE Group, which has fixed and mobile operations in Greece and Romania, has recorded a 0.3% rise in sales in the first half of 2019 to EUR1.86 billion (USD2.1 billion). The firm said that increased revenues from its fixed business were partially offset by a 2.5% drop in mobile turnover. Group EBITDA for the first half climbed from EUR592.4 million in 2018 to EUR625.4 million this year, though there was a 20.8% fall in net profit from continuing operations to EUR80.5 million.

OTE Group has been downsizing its activities, completing the sale of its operations in Albania at the start of this year, and the sale of its stake in Telekom Romania is also expected.