According to the announcement of financial results, the OTE Group recorded pre-tax profits of 146.4 million euros in the second quarter of 2021, increased by 67.5% compared to the corresponding period of 2020, mainly due to the higher profitability in the quarter. .
In Greece, revenues continued to increase for the third consecutive quarter, by 9.6%, to 758.7 million euros while the adjusted profitability EBITDA (AL) increased by 6.5%, to 303.7 million euros with adjusted EBITDA margin (AL) to 40.0%. Revenues from fixed services increased by 2.0%, supported by the continuing positive trend of revenues from broadband services. Revenues from wholesale services increased by 6.1% in the quarter. On mobile, service revenue returned to a growth trajectory of 7.4% as the negative effects of the pandemic began to subside with the gradual lifting of restrictions by mid-May. Revenues from both prepaid and contract services increased on an annual basis, while roaming revenues began to recover after travel restrictions eased. Other revenue increased significantly by 35.3% in the quarter, reflecting the growth of ICT and device sales. ICT had another positive quarter, recording a 21% increase in revenue compared to the second quarter of 2020.
The Group also announced that it continued to increase its fiber-optic subscribers this quarter, with 51,000 new net connections, and a total of 1,056,000 high-speed broadband customers. As of June 30, 2021, the total number of TV subscribers was 579 thousand, an increase of 2.8% on an annual basis, as OTE continues to utilize the new Over-the-Top services and its attractive content.
In the second quarter, Cosmote provided mobile telephony services to 7.0 million customers in Greece, down 3.1% compared to the corresponding quarter of 2020, mainly due to prepaid subscriptions, as contract subscribers continue to grow.
In Romania mobile, trends are improving, with Adjusted EBITDA (AL) increasing by 26.4%.
“The OTE Group recorded a strong second quarter in Greece, compared to the corresponding period last year, which was significantly affected by the health crisis. We have been able to boost our performance on all major indicators (KPIs) and revenue streams. Roaming revenues began to recover, as tourist traffic gradually restored. Trends also improved in Romania, where we received conditional approval for the sale of Telekom Romania (Fixed). We have achieved significant strengthening of EBITDA in both Romania and Greece, as well as an increase in cash flows,” said the president and CEO of the Group, Mr. Michalis Tsamaz, in a statement .
“The continuous recovery and modernization of the Greek economy, the quality of our technological infrastructure and the know-how of our staff, but also the positive trends recorded since the beginning of the year, strengthen our belief that we will achieve our goals for 2021 “as we are ready to face any challenge,” he concluded.
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