OTE Group on Thursday reported strong growth in 2022, with revenue up 3.6% and adjusted EBITDA up 4% in the year. More specifically, OTE Group said its revenue and profits in Greece were the highest in the last decade, while free cash flow jumped 23.8% to 597.1 million euros and adjusted investments totaled 638.3 million.
In the fourth quarter of 2022, consolidated revenue rose 1.1% to 885.4 million euros. In Greece, revenue rose 2.2% to 813.9 million euros and adjusted EBITDA grew 3.2% to 331.8 million. The Group’s net borrowing was 726.7 million euros at the end of December 2022, down 7% from a year earlier. OTE recorded a 26.1% increase in FTTx subsciptions, with 18,000 new additions in the fourth quarter, while FTTH customers totaled 137,000.
OTE plans to accelerate the development of its FTTH network to cover 1.4 million homes by the end of 2023. TV subscription totaled 643,000, up 3%, while mobile telephony customers totaled 7.4 million, up 3.8% in the quarter. OTE expands its 5G network to reach 90% of population coverage by the end of the year.
SOURCE; ANA-MPA
