Q2 sales down 3% at OTE

6 Aug 2020

OTE Group of Greece has reported revenues of EUR918.2 million (USD1.1 billion) for the second quarter of 2020, down 3.0% year-on-year. Lockdown in Greece was behind an 8.8% decline in mobile service revenue, nearly half of which was due to roaming. Adjusted EBITDA was stable at EUR343.5 million, while adjusted profit after minority interests amounted to EUR118.4 million in Q2 2020, compared to EUR98.5 million a year earlier. CAPEX dropped 15.2% to EUR151.1 million, including EUR118.0 million in Greece and EUR33.1 million in Romania.

Mobile subscriptions in Greece were down 5.5% year-on-year at 7.21 million as of mid-2020, while there was a 14.0% drop in mobile user numbers in Romania to 3.83 million. Fixed broadband subscriptions were down 9.1% y-o-y in Romania at 959,448, but climbed 6.6% in Greece, from 1.95 million at mid-2019 to 2.08 million twelve months later.