OTE CEO points to positive 2022 performance; Q1 results down from same trimester last year

OTE telecoms group president and CEO Michael Tsamaz said the past year, 2022, saw the company again post strong performances, even amid an environment of international challenges, speaking during a general assembly of shareholders on Wednesday.

Tsamaz spoke in the wake of this week’s publication of first quarter results, which saw OTE group’s EBITDA reach 322 million euros, down by 1 percent from the corresponding quarter of 2022.

Unified revenues also fell by 2 percent, reaching 803.6 million euros.

On an ominous note, OTE’s Romanian subsidiary reported reduced Q1 revenues by 12 percent, or 69.0 million euros in absolute terms. The latter is attributed, to a large extent, to the termination of MVNO services to FMC customers, as well as decreasing penalties for ending mobile phone service.