OTE Group on Thursday said its revenue totaled 997.9 million euros in the third quarter of 2016, up 2.7 pct compared with the same period last year, boosted by a significant increase in fixed-telephony revenues in Greece.
OTE, in an announcement, said that third quarter performance was the best in a decade. Adjusted EBITDA was 357 million euros in the July-September period, up 2.0 pct from last year, with EBITDA margin rising to 35.8 pct. Net profits, on an adjustment basis, excluding one-off charges, grew 11.2 pct to 74.6 million euros in the third quarter. Investments grew 29.7 pct to 183.7 million euros, while total adjusted free cash flows fell 30.5 pct to 175.3 million euros in the nine-month period from January to September, compared with the same period last year. Adjusted net borrowing was 800 million euros at the end of September, down 27.2 pct from last year.
In Greece, retail broadband services customers in fixed telephony grew by 30,000 to 1,605,000. Fixed telephony revenue grew 5.4 pct, rising for the eighth successive quarter on an annual basis, while adjusted EBITDA grew to 43 pct.
TV services grew 16 pct on the annual basis, with OTE TV subcribers totaling 478,000.
In mobile telephony, subscribers totaled 7.7 million euros, up 3.2 pct. OTE Group said its 4G and 4G+ networks expansion continued with a population coverage of 90 pct and 72 pct respectively. A 56 pct of customer base are smartphone users.
In Romania, revenue rose in the third quarter although customer base fell 3.4 pct to 5.5 million. In Albania, Telekom Albania maintained its position in the market with its customer base at 1.9 million at the end of the third quarter.
Mihalis Tsamaz, chairman and chief executive of the group, commenting on the results said “It was one of the strongest quarters in the last few years, particularly in fixed telephony in Greece,” adding “our strong performance in a difficult environment is the result of significant investments we are implementing“.
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