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Athens Macedonian News Agency: News in English, 14-11-06

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] OTE reports improved results

  • [01] OTE reports improved results

    ANA/MPA---Hellenic Telecommunications Organization (OTE) on Thursday said its adjusted net profits totaled 94 million euros in the third quarter of 2014, its adjusted EBTIDA margin rose by 120 basis points and its adjusted cash flow totaled 126 million euros.

    In an announcement, OTE said consolidated revenue fell 5.0 pct hit by a reduction in end-call charges. Group EBITDA totaled 371.1 million euros in the third quarter of the year, down 2.1 pct, while net profits jumped to 94.2 million euros from 75.8 million euros in the third quarter of 2013 and adjusted free cash flow grew 20.3 pct to 126.4 million euros.

    Third quarter investments totaled 149.8 million euros, while adjusted net borrowing fell 14.3 pct to 1.4 billion euros.

    Michael Tsamaz, OTE's chairman and chief executive, commenting on the results said: "Our performance in Greece continue stabilizing, as reflected in our revenue. In fixed telephony, broadband and TV services show strong results, while revenue from mobile telephony show resistance, counterbalancing for lower revenue in our international activities in mobile telephony. In an environment that remains adverse, we are optimistic of achieving the goal we have set for a free cash flow of 50 million euros this year and for strong profitability both this year and in 2015".

    Athens News Agency: News in English Directory - Previous Article - Next Article
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