OTE posts quarterly profits of 252.6 mln euros

OTE said group revenues fell by 5.1 pct in the July-September period, while adjusted EBITDA eased 4.7 pct – the lowest rate of decline in the last five quarters.

Adjusted net operating cash flow totaled 702.2 million euros in the January-September period, almost unchanged from

the same period in 2012, while net adjusted borrowing fell below 1.7 billion euros at the end of September, down 42 pct from December 2012. OTE said it continued expanding its networks, with investments on fixed assets rising to 108.5 million euros in the third quarter of the year.

OTE said its fixed telephony business attracted 12,000 broadband subscribers, or 35 pct of total net new connections in the market, to a total of 1,245,000 subscribers, while its OTE TV clients surpassed 230,000.

Cosmote reported a decline in revenues, reflecting a significant decline in end-call fees, although its 4G network covered more than 50 pct of the country’s population.

Revenues from fixed telephony operations in Romania fell by 0.6 pct in the third quarter, while AMC reported higher revenues after a long period of decline.

Commenting on the results, Mihalis Chamaz, chairman and chief executive of the OTE group, said that “in the third quarter we achieved once again good results and defended our position in an adverse economic environment, with continuing intense competition in all markets”.

Source: AMNA