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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Hellenic Telecommunication Organization SA (PK) | USOTC:HLTOY | OTCMarkets | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.0322 | 0.43% | 7.5622 | 6.85 | 7.58 | 7.5622 | 7.5622 | 7.5622 | 1,181 | 21:00:10 |
From Jun 2019 to Jun 2024
By Nektaria Stamouli
ATHENS--Greece's former monopoly phone company, Hellenic Telecommunications Organization SA (HTO.AT), or OTE, Wednesday reported a 45.6% drop in net first-quarter profit, due to the country's tough economic conditions and aggressive competition.
MAIN FACTS:
-First-quarter net profit: EUR167.5 million (2012: profit EUR308.1 million)
-First-quarter revenue: EUR1.04 billion (2012: EUR1.18 billion)
-Earnings before interest, taxes, depreciation and amortization, or Ebitda: EUR368 million (2012: EUR419.4 million)
-First-quarter earnings per share: EUR0.34 (2012: EPS EUR0.63)
-The company announced in late April the sale of its Bulgarian unit Globul to the Norwegian telecom firm Telenor ASA for EUR717 million. This transaction will cut down net debt by more than half, or to EUR2.3 billion, from its level at the beginning of 2011.
-Chairman and Chief Executive Officer Michael Tsamaz: "Thanks to the cost-cutting measures of the past years, and in particular our headcount reduction in Greek fixed-line through effective voluntary exit schemes, we have preserved our profitability in the quarter.... We confronted these circumstances with determination, defending our positions with all the means at our disposal. Product innovation and marketing savvy enabled us to contain revenue loss, and we estimate that we are continuing to outperform our markets."
-Outlook: "In the coming quarters we do not expect a material improvement in our operating conditions, but will continue to make the decisions required to strengthen our market positioning, improve our financial structure and maintain our profitability."
Write to Nektaria Stamouli at nektaria.stamouli@dowjones.com
Order free Annual Report for Hellenic Telecommunications Organization SA
Visit http://djnweurope.ar.wilink.com/?ticker=GRS260333000 or call +44 (0)208 391 6028
Order free Annual Report for Telenor ASA
Visit http://djnweurope.ar.wilink.com/?ticker=NO0010063308 or call +44 (0)208 391 6028
Order free Annual Report for Hellenic Telecommunications Organization SA
Visit http://djnweurope.ar.wilink.com/?ticker=US4233253073 or call +44 (0)208 391 6028
Order free Annual Report for Telenor ASA
Visit http://djnweurope.ar.wilink.com/?ticker=US87944W1053 or call +44 (0)208 391 6028
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