OTE: 8.3% hike in H1 profits

[Ellinas]

Hellenic Telecommunications Organisation (OTE) on Thursday reported improved first half results, with group turnover rising 2.2 pct to 3.128 billion euros, net profits rising 8.3 pct to 300.4 million euros and EBITDA margin rising by almost one point to 37.

OTE attributed its improved results to a good performance in the second quarter of the year, with revenues up 2.5 pct, net profits up 16.6 pct and its EBITDA margin rising by 1.5 points.

Parent turnover totaled 1.285 billion euros in the January-June period, down 3.5 pct from last year, while net profits jumped 10.8 pct to 341.9 million euros and EBITDA margin rose to 33.3 points.

Cosmote Group said net new connections totaled 942,289 in the first six months of 2008, with its customer base totaling 17,428,633, up 33.2 percent from last year. Turnover totaled 1.541 billion euros, up 8.1 pct, operating earnings rose 10.3 pct to 321.2 million euros and EBITDA margin rose to 33.9 points.

Cosmote attracted more than 392,000 customers in Greece in the second quarter of the year, accounting for 53 pct of new connections. Turnover rose 6.5 pct, operating earnings were up 9.5 pct and EBITDA margin rose to 42 points.

In Albania, AMC attracted around 57,000 new connections, with its customer base totaling 1.3 million, up 17.3 pct from 2007. Turnover rose 11.9 pct to 91.4 million euros, operating earnings rose 20.5 pct to 46.1 million and EBITDA margin rose to 63.5 points.

In Bulgaria, Globul reported a 9.9-pct increase in revenues to 210 million euros, a 15.2 pct rise in operating earnings to 39 million euros, and EBITDA margin rising to 40.8 points.

In FYROM, Cosmofon reported a 3.0-pct rise in turnover to 30 million euros, although operating results and EBITDA margin moved lower.

Cosmote Romania reported improved results in the second quarter of the year, with EBITDA totaling 5.0 million euros.

Retailer chain Germanos reported a 13.8-pct increase in turnover and a 99.1 pct decline in profits to 100,000 euros.

RomTelecom reported a 0.7-pct increase in revenues in the first six months of the year.

ANA

[Angelo]

@Ellinas

Is the majority of OTE shares owned by the Greek government?

[Ellinas]

This is the distrubution of OTE shares:

Hellenic Republic: 28.0 %
Deutsche Telekom: 20.0%
Greek Institutional Shareholders: 9.8%
International Institutional Shareholders: 35.3%
Rest Shareholders: 6.8%

The Deutche Telekom shares were buyed recently by the Germans from Marfin IG. They were many reactions in Greece about this, but it finally happened.

[Angelo]

Thanks Ellinas