TV success, but tough times for OTE

11.29 Europe/London, November 10, 2011 By Chris Dziadul

OTE’s TV subscriber base continued to grow steadily in the third quarter in both its home market Greece and in Romania, where it is the majority shareholder in the incumbent telco Romtelecom.

In Romania, the latter ended September with 1,208,293 DTH, IPTV and cable customers, or 20.4% more than the 1,003,182 posted a year earlier.
This was largely down to subscriber acquisitions, as was the increase in broadband subscribers – up 16.8% year-on-year to 1,106,946 – over the same period.
However, Romtelecom’s revenues were down by 11.8% year-on-year in 160.1 million and EBITDA by 5.6% to €36.9 million.
Its loss (EBIT) amounted to €3 million compared to €13.9 million a year earlier.
Meanwhile in Greece, OTE’s TV subscriber total at the end of Q3 stood at 55,577, or 23% more than a year earlier.
Overall, OTE’s revenues were down by 5.8% year-on-year in Q3 to €1,312.5 million and EBITDS by 6.2% to €464.3 million.
Net income fell by 17.3% to €104.4 million.