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Financial Mirror (Cyprus) - - FRONT PAGE -

Tele­coms gi­ant OTE is ex­pected to post a 3.7% drop in third-quar­ter core profit on Thurs­day, hurt by lower net­work rev­enues in Ro­ma­nia and com­pe­ti­tion at home.

OTE, 40%-owned and man­aged by Deutsche Tele­com, also has op­er­a­tions in Al­ba­nia. Earn­ings be­fore in­ter­est, tax, de­pre­ci­a­tion and amor­ti­sa­tion (EBITDA) are seen drop­ping to 365.1 mln euros in the third quar­ter from 379 mln euros in the same pe­riod last year. Net profit is seen down 73% at 68.4 mln euros.

Last year’s third-quar­ter profit was boosted by a 154 mln-euro gain from the sale of its Bul­gar­ian mo­bile unit Globul.

Sales are ex­pected to be down 5% to 987 mln euros with lower rev­enues from its mo­bile business partly off­set by sta­bil­is­ing fixed-line and fast-grow­ing pay-TV op­er­a­tions in Greece.

The company’s shares have lost 3% so far this year, out­per­form­ing a 20% drop in the ASE gen­eral in­dex over the same pe­riod.

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