Greece’s OTE feels the squeeze

[khurramdar]

Greece’s OTE feels the squeeze

By Chris Dziadul
February 26, 2010 10.11 UK

2009 was a tough year for Greece’s OTE, its revenues of â,¬5,984.1 million being 6.6% down on the previous 12 months. Net income was down by 32.9% to â,¬404 million, and OIBDA by 5% to â,¬2,156.2 million.

The telco also posted a loss of â,¬30.5 million in the last quarter, as opposed to net income of â,¬100.1 million 12 months earlier, though this was largely due to what is described as “an extraordinary ‘special contribution tax’ of â,¬113.1 million”.

OTE had 2.1 million ADSL broadband subscribers at the end of 2009, up from around 1.6 million a year earlier.

Its share of the Greek broadband retail market stood at 50% as of the end of 2009.

OTE’s pay-TV service was available in a total of 60 urban areas throughout Greece and had over 16,000 subscribers at the end of 2009.