OTE says turnover down 1.0 pct in H1‏

Gazzetta team 6 Αυγούστου 2015 - 13:58

Hellenic Telecommunications Organization (OTE) on Thursday said its turnover fell 1.0 pct to 1.894 billion euros in the first half of the year, from 1.914 billion in the same period in 2014 and that adjusted net profits totaled 100.9 million euros, down 22.1 pct over the same period. EBITDA fell 5.2 pct to 644.4 million euros from 679.6 million in the first half of 2014.

Turnover grew 0.3 pct in the second quarter to 953.5 million euros, with domestic fixed telephony turnover rising 0.6 pct, remaining on an upward trend for the third successive quarter. Mobile telephony results were stable, with Cosmote reporting a 4.6 pct decline in service revenues. Adjusted net profits dropped 34.5 pct to 47.2 million euros while adjusted EBITDA fell 8.0 pct to 318.4 million euros.

Investments on fixed assets totaled 139.6 million euros in the second quarter of 2015. OTE Group said adjusted net borrowing was 1.1 billion euros at the end of June 2015, down 31.8 pct from a year earlier.

Cosmote offered mobile telephony services to 7.4 million customers in Greece, with subscriber base remaining almost unchanged.

Mihalis Tsamaz, OTE Group's chairman and chief executive, commenting on the results said that strong performance in Greece continued in the second quarter of 2015, leading to a very resilient first half...The stability of our performance in the coming months will depend on developments in the country, with higher taxation expected to affect consumer spending. However, our constant investment in growth make us more resilient and give us the possibility to minimize any external effects on our profitability and cash flows".