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OTE: Profit growth in Greece in the third quarter – Adjusted EBITDA at 348 million euros

OTE: Profit growth in Greece in the third quarter – Adjusted EBITDA at 348 million euros
OTE: Profit growth in Greece in the third quarter – Adjusted EBITDA at 348 million euros

OTE’s profitability growth in Greece continued in Q3, with adjusted EBITDA up 0.7% to €348m from €345.5m in Q3 2022.

At group level, adjusted EBITDA decreased by 1.5% due to Romania, with the margin however increased by 0.4 points.

Revenues in Greece decreased by 2.2%, to €811.8 million from €830 million in Q3 2022, due to wholesale and temporary delays in ICT project contracts, while at group level they decreased by 2.6%.

She was stable revenue enhancement in both prepaid and contractswhile revenues from retail services improved and there was growth in broadband and television.

The fiber subscribers up 7% and there is FTTH availability for 1.15 million households with a penetration rate of 19%

Statement by Michalis Chamaz

The president and CEO, Michalis Chamaz, made the following statement

“In the third quarter, we continued our dynamic course in the Greek market, noting positive performances in all areas that ensure our future growth and profitability.

Despite intensifying competition, and thanks to customers’ trust in the COSMOTE brand and the top-notch services it offers, we achieved significant growth in broadband, TV and mobile contract customersevidence that allows us to be optimistic.

The eexpansion of the fiber optic network continues at a steady pace, attracting more and more customers, while the new FTTH voucher is expected to further strengthen these trends.

Cost containment efforts across our operations, including our recent voluntary severance program, continue to pay off.

As a result, we record an increase in EBITDA profitability in Greece, but also a strong margin. We enter the final stretch of 2023 with a solid foundation to continue our successful strategy next year as well.”

The announcement with OTE’s financial results in detail

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The article is in Greek


Tags: OTE Profit growth Greece quarter Adjusted EBITDA million euros


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