Hellenic Telecommunications Organizations S.A.

HTO

Equity

ISIN GRS260333000 / Valor 449134

Athens Exchange S.A. Cash Market (2026-08-07)

EUR 19.78+2.01%

Hellenic Telecommunications Organizations S.A.
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About company

Hellenic Telecommunications Organization S.A. (OTE) is a prominent telecommunications provider headquartered in Maroussi, Greece. The company delivers a comprehensive range of services, including fixed and mobile telephony, broadband, and internet access via advanced 4G and 5G networks. Additionally, OTE offers satellite communication, television services, and develops telecom equipment. Through its subsidiaries, the company extends its offerings to include financing, e-commerce, retail, wholesale broadband and infrastructure services, electronic money services, ICT, Pay TV, and marketing services. OTE caters to both business and residential customers across several countries, including Belgium, the Netherlands, Greece, Romania, and the UK, thereby targeting a diverse array of markets. The company's strategic distribution through various subsidiaries enhances its presence and influence in the telecommunications sector.

Summarized from source with an LLMView SourceSector: Telecommunications

Revenue and margins

Group revenues improved 7.9% YoY, driven by Greece (+8.9% to €1,658.4m). Adjusted EBITDA (AL) increased slightly to €652.7m but margin compressed to 36.5% (‑2.6pp) due to higher contribution from lower‑margin ICT and international wholesale.

Greece operations

Greece delivered the bulk of growth: revenues €1,658.4m (+8.9%), Adjusted EBITDA after lease €650.0m (+1.5%) with a 39.2% margin. Mobile, TV and ICT were strong; wholesale international transit and ICT growth offset legacy fixed declines.

Romania mobile business

Telekom Romania Mobile revenues fell to €132.9m (‑3.9% YoY) and Adjusted EBITDA after lease dropped to €2.7m, hurt by MTR cuts, competitive pressure and a new revenue tax; mobile subscriber mix shows postpaid growth but overall subscriber decline.

Capex, FTTH and network investment

Adjusted capex was €273.6m (+10.9%), focused on FTTH rollout — homes passed ~1.46m with FTTH subscribers 324k (FTTH +67.5% YoY). OTE targets ~1.8m homes passed by year‑end and continued expansion of 5G coverage.

Cash flow and balance sheet

Free cash flow guidance reiterated at ~€470m for full year 2024 despite H1 FCF of €248.3m (-32.9%), impacted by higher tax payments and timing of exit scheme flows. Cash €686.0m; net debt €457.0m (improved leverage at ~0.3x but up vs prior year in absolute terms).

Shareholder returns

OTE approved total shareholder remuneration target ~€450m for 2024 (≈€297 cash dividend and €153 buyback). Final dividend paid July 10, 2024 (€0.7216 gross per share adjusted); ongoing buyback program is in progress with ~48% of planned amount spent as of the report.

Guidance and outlook

Management expects continued strength in Greece (FTTH/5G/ICT tailwinds) while Romania remains challenging. Full‑year guidance: CAPEX €610–620m and FCF ≈€470m; intent to distribute ~95% of 2024 FCF to shareholders.

Key risks flagged

The report highlights risks including macroeconomic and regulatory developments (notably MTR and wholesale regulation), energy price volatility, cyber/data protection, supply‑chain and climate/physical risks, and potential tax or pension-related obligations; management states no additional impairments were required as of June 30, 2024.

Summarized from source with an LLMView Source

Key figures

25.1%1Y

38.8%3Y

25.7%5Y

Performance

21.0%1Y

22.5%3Y

23.3%5Y

Volatility