OTE expects a ‘solid’ year as restrictions ease

OTE expects a ‘solid’ year as restrictions ease

OTE Telecom, Greece’s biggest telecoms operator, posted higher core profit yesterday and said that 2021 “will be a solid” year as the negative effect of the pandemic fades out.

OTE, 46% owned and managed by Deutsche Telecom, said core earnings (EBITDA) reached 301 million euros in the first quarter, up from €296.5 million in the first quarter last year.

Group revenue fell by 1.2% to €787.9 million, as weak operations in Romania more than offset growing sales of mobile handsets at home.

However, OTE was confident that revenues will recover, helping the group achieve a “solid” 2021 thanks to the lifting of coronavirus restrictions and the upcoming reopening of tourism in Greece as vaccinations in the country gathered pace.


Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.