OTE Group reports €492,4M profits in 2021
Total revenues from Greek operations totaled €3,078.1, an increase of 4.7% compared to 2020.
Increasing demand for higher speeds and superior sports content fueled fixed retail growth.
Total revenues from Greek operations totaled €3,078.1, an increase of 4.7% compared to 2020. Fixed Retail Service revenues increased by 1.4%, supported by continuing momentum in broadband revenues and positive performance in the TV segment. Increasing demand for higher speeds and superior sports content fueled fixed retail growth.
According to the Group's full year financial results for 2021, mobile service revenues were up 4.4%. Both postpaid and prepaid revenues were higher compared to 2020, reflecting the ongoing execution of the Company’s more-for-more strategy. Revenues from visitor roaming were up sharply, by 60%, compared to 2020, reaching over 80 % of the 2019 pre-COVID level, benefiting from the recovery of tourism during the summer period.
Revenues from the wholesale business in Greece were up 1.9%, mainly reflecting higher international transit traffic revenues and total market acceleration in fiber adoption. Other revenues increased by 14.5% reflecting positive ICT performance and 31.4% growth in handset sales, largely due to a government program subsidizing sales of tablets and laptops to students. ICT grew by 9.2%, reflecting a sharp 13% increase in system solutions, as OTE leverages its experience in delivering large projects for private and public organizations.
Adjusted EBITDA After Lease (AL) in Greece increased by 5.5% reaching Euro 1,265.4, mainly due to solid revenue increase across the board and significant savings in Personnel costs as a result of the voluntary leave schemes implemented in 2020.