OTE posts Q3 net profit thanks to mobile business
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OTE Group, Greece’s biggest telecoms operator, said on Thursday rising inflation had hurt its business but hefty investments in fast broadband and 5G helped it to mitigate the impact.
OTE, 46% owned and managed by Deutsche Telekom, on Thursday reported a 2% rise in third-quarter net profit to 162 million euros thanks to a growing mobile business.
The group expects to achieve low-to-mid-single-digit growth in earnings before interest, tax, depreciation and amortization (EBITDA) this year.
OTE reiterated its guidance for cash flow of about €600 million this year. [Reuters]
