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OTE Telecom, Greece's largest telecom operator, reported a 1% increase in adjusted core earnings (EBITDA) for the fourth quarter, reaching €344.5million, up from €341.1 million in the same period the previous year. This growth was driven by strong performance in its Greek mobile operations and reduced personnel and maintenance costs. However, the group's total revenues fell by 2.7% to €905.3 million, significantly impacted by a 17.4% revenue drop in Romania due to challenging market dynamics and a 50% mobile termination rate cut in early 2024.
Majority-owned by Deutsche Telekom, OTE aims to have 2.1 million Fiber to the Home (FTTH)-connected homes by 2025, with plans for €460 million in free cash flow and €610-620 million in FTTH-focused capital expenditure. The company anticipates nearly 2% EBITDA growth in Greece, driven by robust service performance and cost control.
Despite the challenges in Romania, OTE's strategic focus on expanding its fiber network and controlling costs has positioned it for potential growth in the Greek market. The company's investment in FTTH infrastructure is expected to enhance its competitive edge and meet the increasing demand for high-speed internet services.
