OTE Group reports growth in FY 2021

25 Feb 2022

OTE Group of Greece has reported a 3.4% rise in revenues in full-year 2021 to EUR3.37 billion (USD3.77 billion), with adjusted EBITDA up 5.9% at EUR1.30 billion. Adjusted profit attributable to shareholders jumped 19.8% to EUR492.4 million. Growth was attributed to OTE’s operations in both Greece and Romania. In Q4 2021 sales rose 5.0% to EUR891.5 million, with adjusted EBITDA up by 12.4% to EUR331.8 million.

OTE Group Chairman & CEO Michael Tsamaz commented: ‘In Greece, all our revenue lines were up substantially. This reflects the strong competitive positions we have built through continuous investment during a decade of economic turmoil, to ensure the excellence of our customer experience and the efficiency of our networks. As for our Romanian operations, they are stabilising in their first quarter as a standalone mobile organisation.’

Greece, Romania, OTE Group