OTE turns the corner

November 7, 2013 11.23 Europe/London By Chris Dziadul

ote_tv_logoTV services are proving to be a major factor in OTE’s improved financial performance, both in its home market Greece and in Romania.

Data published by the telco shows that it ended the third quarter with 218,066 subscribers to its IPTV and DTH services, or over double the 96,773 posted a year earlier.

All the increase was fuelled by the latter, with IPTV numbers remaining stable, thanks to what the company describes as the “most extensive, exclusive and diverse content in the Greek pay-TV market.”

In Romania, the company had a total of 1,320,038 DTH, IPTV and cable subscribers at the end of September, or 7.2% more than a year earlier.

Its urban cable footprint continued to expand in the third quarter, giving more homes in major Romanian cities access to Romtelecom’s TV offering.

OTE as a whole had revenues of €1,039.9 million in the third quarter, down by 5.1% on a year earlier.

EBITDA was down by 7.3% to €368.8 million, while net income rose by 149.4% to €252.6 million.