Telecoms firm OTE posted slightly higher revenue in the third quarter of 2024, while operating earnings dropped slightly from the same period in 2023. In the first nine months of the year, both revenue and operating profits were up, the company announced Thursday.
Third-quarter revenue rose 1.8%, to €897.2 million euros, from the same period in 2023, while earnings before interest, taxes, depreciation and amortization dropped 0.7%, to €350.1 million. Over the first nine months of the year, they rose 5.8%, to €2.51 billion, and 0.1%, to €1 billion, respectively.
“We aim to rank among Europe’s top performing digital telecommunications operators, elevating Greece to the forefront of digitalization in Europe,” OTE Chairman and CEO Kostas Nebis told a call with analysts.
OTE estimates for higher growth ahead rest on the success of the voucher program for Gigabit fiber-to-the-home (FTTH) connections, record additions of TV subscribers (up 24,000 to 710,000) thanks to the sports content-sharing deal with Novasports, and continued investment in optical fiber.
Nine-month net profit reached €414.3 million, up 4.3%.