OTE announces 800 mln euro in investments in 2017

The Greek telecoms firm OTE on Thursday announced that it had carried out investments of 800 million euros in 2017, mainly in optical fibres and new generation mobile networks.

Fourth quarter revenues totaled 3,857.1 million euros, a drop of 1.3 pct compared to last year.

EBITDA reached 1.303,9 million, down 1.3 pct, with the EBITDA margin remaining unchanged.

The company will propose a 0.35 per share dividend for 2017, up from 0.16 euros, and proceed with a 90 million euro share buyback programme.

In Greece, revenues were down 3.9 pct to 717.3 million euros in Q4’17, as higher revenues from fixed and mobile operations were offset by lower revenues from OTE Globe and the completion of the construction phase of the rural broadband project.

Investment in fibre is paying off, with record VDSL additions in the quarter, and the TV subscriber base continued to grow.

Penetration of OTE’s high-speed VDSL broadband service continued to expand, with record net additions of 43k in the quarter, supported by the expanding reach of the service. At quarter end, OTE’s VDSL offer had been adopted by 354k subscribers, or 20.1 pct of OTE’s total retail broadband base, up from 18.1 pct at the end of Q3’17. Demand for broadband among OTE’s customer base remains strong, as penetration lags the market as a whole.