Fixed broadband helps maintain OTE Group revenues in Q3

12 Nov 2020

Greece-based OTE Group has reported revenues of EUR1.00 billion (USD1.18 billion) for the third quarter of 2020, a decline of 0.8% from a year earlier. Adjusted EBITDA after lease costs climbed 0.9% to EUR376.1 million, with adjusted net profit jumping 18.9% to EUR148.8 million.

Michael Tsamaz, Chairman & CEO, noted: ‘In the third quarter, we posted a sizeable rebound in all major revenue lines with the exception of Greek mobile, which was impacted by the absence of tourists during the summer holiday season. Once again, a solid performance in broadband and ICT contributed to the resilience of our top line.’

The group recently agreed to sell its 54% stake in Romanian fixed line operator Telekom Romania to Orange Group of France.

Greece, OTE Group