Romtelecom's revenues and profit drop on clients' cautious attitude to spending
Telecom operator Romtelecom, subsidiary of Greek OTE, posted an operational loss of EUR 38.2 million in the first half of this year, while during the same period of last year it had posted a EUR 12.3 million profit. The company's revenues…
Romania Insider · Journalist
· Updated · 1 min read
Telecom operator Romtelecom, subsidiary of Greek OTE, posted an operational loss of EUR 38.2 million in the first half of this year, while during the same period of last year it had posted a EUR 12.3 million profit. The company's revenues went down by 11 percent in the second quarter of the year, to EUR 178.7 million, while its EBITDA was 59 percent lower, to EUR 24.4 million. The financial results for the second quarter are influenced by the clients' cautious attitude, due to the difficulties they confront. “Given these unfavorable conditions, we have registered an increase in the number of units which generate revenues, up to around 4.5 million – a combined results of the increase in TV customers – up 19.8 percent in the second quarter and in the broadband internet connections – by 21.5 percent, as well as the 7.5 percent reduction of landlines,” said Yorgos Ioannidis, general manager of Romtelecom (in picture).
