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hellenic telecommun organiza (HLTOF) Key Developments

Hellenic Telecommunications Organization Sa Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for 2014

Hellenic Telecommunications Organization SA announced earnings results for the second quarter and six months ended June 30, 2014. The company reported second-quarter revenues down 5.2% from a year earlier to EUR 951 million, as termination rate cuts and the economic weakness in Greece continued to weigh on results. Adjusted EBITDA was down just 1.7% to EUR 346 million, helped by workforce reductions and other cost cutting. The EBITDA margin rose to 36.4% from 35.1% a year ago. EBITDA was EUR 342.5 million against EUR 346.6 million a year ago. Pro forma EBITDA was EUR 346.2 million against EUR 352.3 million a year ago. Operating profit before financial activities (EBIT) was EUR 278.2 million against EUR 300.5 million a year ago. Profit before income taxes (EBT) was EUR 99.0 million against EUR 87.7 million a year ago. Profit for the period from continuing operations was EUR 71.7 million against EUR 61.0 million a year ago. Net profit improved 21% year-on-year to EUR 69.3 million against EUR 57.2 million a year ago, as debt refinancing helped lower interest costs. OTE's net debt fell 37% year-on-year to EUR 1.548 billion. Net cash flows from operating activities was EUR 169.2 million against EUR 269.3 million a year ago. Purchase of property, plant and equipment and intangible assets was EUR 157.5 million against EUR 252.0 million a year ago. For the six months, the company reported total revenues of EUR 1,914.3 million against EUR 1,968.7 million a year ago. EBITDA was EUR 673.7 million against EUR 688.4 million a year ago. Pro forma EBITDA was EUR 679.6 million against EUR 695.9 million a year ago. Operating profit before financial activities (EBIT) was EUR 142.0 million against EUR 150.7 million a year ago. Profit before income taxes (EBT) was EUR 187.5 million against EUR 234.8 million a year ago. Profit for the period from continuing operations was EUR 126.6 million against EUR 232.9 million a year ago. Profit from continuing operations attributed to the owners of the parent was EUR 125.1 million against EUR 223.9 million a year ago. Net cash flows from operating activities was EUR 358.2 million against EUR 207.8 million a year ago. Capex was up 29% in the first half of the year to EUR 274 million. Adjusted free cash flow, which excludes restructuring and spectrum payments as well changes in scope, fell by 69% year-on-year to EUR 85 million in the six months. For the remainder of 2014, OTE expects a further deceleration of top-line contraction, helped by initial signs of recovery in the Greek economic environment, a more favorable base of comparison following the successive rounds of MTR cuts implemented in Greece through early 2013, the growing penetration of OTE new services, notably TV, and finally, resilient ARPU in mobile. Conversely, MTR cuts in Romania started impacting mobile revenues and EBITDA in that country. OTE will pursue its cost-containment efforts, and its profitability should benefit from the continuing lowering of its cost base as a result of recent voluntary exit schemes. With a robust financial structure, OTE will continue to invest in its infrastructure to strengthen the economic potential of the countries in which it operates as well as customer satisfaction and future revenue streams.

Hellenic Telecommunications Organization SA Announces Executive Changes

Hellenic Telecommunications Organization SA announced that Mr. Dimitris Tzelepis, OTE Group Investor Relations Director is leaving the company. As of August 8, 2014, Mr. Evrikos Sarsentis, to date OTE Group Mergers, Acquisitions and Special Projects Director will assume the position of OTE Group Mergers, Acquisitions and Investor Relations Director. Mr. Sarsentis has been working for OTE Group for the past 10 years, serving as IR & Strategy Director at COSMOTE and more recently as M&A Director at OTE Group.

Hellenic Telecommunications Organization SA, Q2 2014 Earnings Call, Aug 07, 2014

Hellenic Telecommunications Organization SA, Q2 2014 Earnings Call, Aug 07, 2014

Hellenic Telecommunications Organization SA Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Hellenic Telecommunications Organization SA reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported revenues of GBP 963.7 million compared to GBP 966.2 million a year ago. EBITDA was GBP 331.2 million compared to GBP 341.8 million a year ago. Pro forma EBITDA was GBP 333.4 million compared to GBP 343.6 million a year ago. Net income was GBP 55.8 million compared to GBP 166.7 million a year ago. Adj. net operating cash flow was GBP 107.4 million compared to GBP 238.7 million a year ago. Adj. CAPEX was GBP 120.9 million compared to GBP 91.1 million a year ago. Basic EPS was GBP 0.1149 compared to GBP 0.3401 a year ago. Net debt (underlying) as at March 31, 2014 was GBP 1,583.7 million compared to GBP 2,736.6 million a year ago. Profit before income taxes (EBT) was GBP 88.5 million compared to GBP 147.1 million a year ago.

Hellenic Telecommunications Organization SA, Q1 2014 Earnings Call, May 08, 2014

Hellenic Telecommunications Organization SA, Q1 2014 Earnings Call, May 08, 2014

 

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