Romanian Cosmote and Romtelecom bring best quarterly results for OTE, but full year sales still down

Telecom company Cosmote Romania ended 2013 with lower revenues, at some EUR 458 million, down 0.9 percent year – on – year, while its profit before taxes was of almost EUR 119 million, the company announced. Despite a challenging 2013, revenues in Q4 2013 increased by 8.1 percent on an yearly basis, amounting to EUR 123 million, its financial statements show. Meanwhile, its sister company Romtelecom, which provides landline telephony, internet and digital TV services, saw revenues of EUR 609.5 million in 2013, down 1.6 percent on 2012, according to the company. Romtelecom's profit before taxes however was down to some EUR 8.4 million, from EUR 57.3 million the year before. “Overall, 2013 was full of challenges and achievements, both for our fixed and mobile operations. [...] On the mobile side, the key milestone for Q4 2013 was the radical reshape of the postpaid portfolio [...]. I am confident that the performance in 2013 is the result of customers’ positive response to our commercial initiatives and the proof that the strategy we set is the correct one”, said Nikolai Beckers, Chief Executive Officer Romtelecom and Cosmote Romania (in picture). He further said the two companies are enhancing their integrated sales strength and invest in developing their national sales distribution channels, which included, at the end of 2013, approximately 720 points of sale (own & partner stores) and over 34,000 kiosks across the country. Both companies are owned by Greek OTE Group, which posted its financial results as well, showing revenues down across the board at 12 months. The biggest sales decrease was for its mobile operations in Greece, down 12.3 percent, while the Romanian mobile division Cosmote had the lowest decrease. In the last quarter of 2013, however, the company managed to counterbalance the drops during the rest of the year. Romania performed best in the last quarter, with sales up for both mobile division Cosmote – up 8.1 percent, to EUR 123 million, and landline company Romtelecom, with a growth of 8.8 percent, to EUR 162.7 million. “Cosmote Romania total revenues rose in the quarter after six consecutive quarters of decline,” OTE reported. The full financial results posted by OTE are here. editor@romania-insider.com