Positive third quarter for OTE Group

15 Nov 2021

OTE Group of Greece has reported revenues of EUR861.4 million (USD986 million) for the third quarter of 2021, up 1.8% year-on-year. Domestic sales were up 3.5%, driven by strong growth in the fixed broadband and pay-TV sectors, while mobile service revenues were up 8.2% thanks to a recovery in roaming. Adjusted EBITDA after lease climbed 3.2% to EUR352.5 million, while adjusted net profit was up 23.5% at EUR160.2 million.

Chairman and CEO, Michael Tsamaz, said: ‘Group revenues, EBITDA and margin are all higher than last year. Our Greek top line benefited from growing demand for higher data speeds and volume in both mobile and fixed, and from the recovery in tourism driving a sharp rebound in visitor roaming. In Romania, we completed the sale of our fixed line operations and gained full ownership of mobile, where underlying trends are moving in the right direction.’

Greece, OTE Group