(Reuters) -OTE Telecom, Greece’s biggest telecoms operator, reported a 1% rise in adjusted core earnings in the fourth quarter on Wednesday, driven by growth in its Greek mobile operations as well as lower personnel and maintenance costs in Greece.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the fourth quarter came in at 344.5 million euros ($361.76 million), compared to 341.1 million the previous year.
The group’s revenues in the fourth quarter fell by 2.7% to 905.3 million euros with revenue in Romania dropping 17.4% due to challenging market dynamics and the impact of a 50% mobile termination rate cut implemented at the start of 2024, it said.
Majority owned and managed by Deutsche Telekom, OTE said it aims for 2.1 million Fibre to the Home (FTTH)-connected homes by the end of 2025 and sees 460 million euros in free cash flow, 610 million to 620 million euros in capital expenditure focused on FTTH, and nearly 2% EBITDA growth in Greece through strong service performance and cost control.
($1 = 0.9523 euros)
(Reporting by Antonis Pothitos; Editing by Peter Graff and Louise Heavens)
