Q2 2024 Hellenic Telecommunications Organization SA Earnings Call Transcript
Key Points
- Hellenic Telecommunication Organization SA (HLTOY) reported a 7% increase in group revenues, driven by solid performance in Greece.
- The company added 38,000 subscribers to its FTTH service in Q2, marking a 68% increase from the previous year.
- ICT revenues grew by 33%, reflecting strong demand for network IT and cloud computing services.
- The company maintained a high EBITDA margin of 38.6% in Greece, despite challenging conditions in Romania.
- Hellenic Telecommunication Organization SA (HLTOY) is optimistic about future growth, supported by government FTTH coupons and new wholesale agreements.
- Romanian operations negatively impacted overall performance, with mobile service revenues declining by 17% due to cuts in mobile termination rates.
- Group adjusted EBITDA after leases remained unchanged year-on-year, offset by negative contributions from Romania.
- Total operating expenses grew by nearly 12%, outpacing revenue growth due to increased interconnection and indemnity-related costs.
- Free cash flow after leases decreased by 16% compared to the second quarter of the previous year.
- The company faces ongoing challenges in the competitive Greek market, with fixed revenues remaining stagnant throughout 2024.
Ladies and gentlemen, thank you for standing by. I am Geilis, your Chorus Call operator. Welcome, and thank you for joining [via the/OTE] conference call and live webcast to present and discuss the second-quarter and six months 2024 financial results.
At this time, I would like to turn the conference over to Mr. [Michael Tsamaz] CEO of the Group; Mr. Charalampos Mazarakis, Chief Financial Officer; Mr. Panayiotis Gabrielides, Chief Marketing Officer, Consumer Segment OTE Group; and Evrikos Sarsentis, head of IR and M&A. Mr. Tsamaz, you may proceed.
So good morning, and welcome to our 2024 second quarter results call. As you might know, I have rejoined the OTE group effectively as of the of July 1.
Having said that very familiar with having spent a decade in various roles and in my tenure as Chief Commercial Officer from the consumer segment, the position held from 2016 to 2019. For the past, slightly more than five years,
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
