Hellenic Telecom Organization S.A. (ADR) ( (HLTOY) ) has released its Q3 earnings. Here is a breakdown of the information Hellenic Telecom Organization S.A. (ADR) presented to its investors.
Hellenic Telecom Organization S.A. (ADR), commonly known as OTE, is a leading telecommunications provider in Greece and Romania, offering a wide range of services including mobile and fixed-line telephony, broadband, pay television, and ICT solutions. The company is a significant player in the Greek market and is listed on the Athens Stock Exchange.
In its latest earnings report for the third quarter of 2024, OTE Group demonstrated resilience amidst challenging market conditions, particularly in Romania. The Group reported a 1.8% year-on-year increase in consolidated revenues, reaching €897.2 million, primarily driven by strong performance in the Greek market. However, adjusted EBITDA after lease (AL) saw a slight decline due to pressures in Romania.
Key financial highlights included a 2.5% increase in revenues from Greek operations, driven by growth in mobile, broadband, TV, and ICT services. OTE’s mobile segment showed positive trends, with a 7% increase in the postpaid customer base and the expansion of its 5G network. In contrast, Romanian operations faced a 6.6% decline in revenues, impacted by market dynamics and regulatory changes. The Group also made strategic investments in FTTH and 5G infrastructure, aiming to cover 1.7 million homes and businesses by the end of 2024.
Despite the challenges, OTE’s management remains optimistic about future growth, focusing on strategic initiatives and investments to enhance its network infrastructure and digital services. The company is committed to maintaining its leadership position in Greece’s telecommunications sector and aims to be one of Europe’s top-performing digital operators.
Looking ahead, OTE plans to continue its investment in network infrastructure and digital transformation, with a strong emphasis on sustainability and shareholder value creation. The company expects to meet its adjusted free cash flow target for the year, despite an extraordinary tax payment in Romania affecting reported figures.
