OTE Group

German telecommunications giant Deutsche Telekom has given a vote of confidence in the Greek economy and its prospects.

As pointed out by Dominique Leroy, the member of Telekom's Board of Directors responsible for Europe, during a meeting with Greek reporters at this year's MWC in Barcelona, Telekom continues to steadily invest in Greece and its prospects through OTE Group.

OTE Group announced Thursday that second-quarter consolidated revenue rose 1.1% year-on-year, to €854.1 million.

But adjusted operating profit (after leases) fell 1.8% in the same period, to €326.8 million, with the strong results increase offset by negative ones in Romania. Q1 adjusted operating profit dropped 1.4%, to €648.8 million.

OTE Group, the country's biggest telecoms operator, reported a 4.6% rise in first-quarter net profit thanks to cost containment and its growing Greek mobile business.

Net profit came in at 135.3 million euros, up from 129.4 million euros in the first quarter last year.

OTE Group on Monday announced a windfall financial support package worth 6.2 million euros for its workers, in an effort to provide some relief against a backdrop of current economic and geopolitical tensions that have hit consumers' available income.

In an announcement, OTE said the support would help mostly low-income workers, offering net financial support of up to €1,000.

Completing one year from the start of their cooperation with Amazon, Hellenic Post responded to the challenge, delivering 95% of the parcels within or earlier than the relevant deadlines. Today, they manage on a monthly basis 70% of the European volume of the company, which reaches Greece through the Croatian hub.

OTE said on Thursday it had launched its 5G services in Athens and other big cities. The group, which is 46% owned and managed by Deutsche Telekom, said that its mobile business, Cosmote, was the first to provide its subscribers with 5G offerings in Athens, Thessaloniki and other cities at speeds exceeding 1 gigabit per second.

Greece has raised 372.26 million euros ($453.78 million) from granting rights for the use of different bands for the development of 5G networks, its telecoms regulator (EETT) said on Wednesday.

The Romanian government is examining the sale of OTE subsidiary Telekom Romania to French group Orange.
The Romanian landline telephony company, formerly known a Romtelecom, is a 54 percent subsidiary of Greece's OTE Group, with the Romanian state controlling 46 percent.

OTE telecom announced on Wednesday the conclusion on Tuesday of the bookbuilding process for the issuance of a 500 million-euro seven-year bond in international debt capital markets.
The issuance was strongly oversubscribed allowing tight pricing. The coupon was set at 0.875 percent, the lowest ever achieved, OTE stated.

The OTE Group on Thursday announced a new annual voluntary exit program. In a bid to reduce staff numbers, the program will be targeted toward about 1,400 employees of OTE, Cosmote and Germanos in Greece.