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ATHENS - OTE Group, the leading telecommunications provider in Greece, reported a slight increase in revenues and adjusted EBITDA for the first quarter of 2025. The company’s revenue edged up by 0.1% year-over-year to €878.8 million, while adjusted EBITDA (After Lease) rose by 1.0% to €329.1 million, reflecting a stable start to the year.
The Greek operations saw an uptick in revenues by 0.8%, driven by positive performances in mobile, TV, broadband, and ICT services. This growth helped offset a decline in wholesale revenues and challenging conditions in the Romanian market, where revenues fell by 8.0% to €60.9 million.
OTE’s mobile business in Greece continued to show strength, with service revenues increasing by 1.2% and post-paid subscribers growing by 6.1%. The fixed retail service revenues also improved, and the company experienced double-digit growth in TV revenues. The company’s FTTH customer base reached 430,000, with strong additions of 36,000 in the quarter. The FTTH network passed approximately 1.8 million homes, with utilization rising to 29%.
Despite the revenue growth, the company’s free cash flow (After Lease) saw a decrease of 23.9% to €96.7 million. The net debt of the Group increased by 7.8% to €561.7 million as of March 31, 2025.
Kostas Nebis, Chairman & CEO of OTE Group, expressed satisfaction with the results, attributing them to the company’s focus on digitization and growth across key segments. He highlighted the ongoing investments in FTTH and 5G infrastructure as crucial to maintaining network superiority and customer loyalty.
The company also announced its shareholder remuneration plans for 2025, intending to distribute approximately 98% of its expected free cash flow of €460 million, which translates to a proposed cash dividend of €0.7216 per share and share buybacks of approximately €153 million.
Looking ahead, OTE remains confident in achieving its targets for 2025, despite global economic challenges and market competition. The company plans to continue its investment strategy, aiming to pass approximately 2.1 million homes and businesses with FTTH by year-end and expand 5G Stand-Alone coverage.
This report is based on a press release statement, summarizing the key financial results and strategic initiatives undertaken by OTE Group in the first quarter of 2025.
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