Q3 2024 Hellenic Telecommunications Organization SA Earnings Call Transcript
Key Points
- Hellenic Telecommunication Organization SA (HLTOY) reported a solid quarter with increased revenues and higher EBITDA, driven by a rise in subscriber numbers.
- The company signed a sports content agreement with Nova, boosting total subscriptions and contributing to growth.
- The Greek government approved gigabit voucher schemes to subsidize high-speed connections, which are expected to boost fiber uptake and reduce costs.
- Wholesale agreements with Vodafone and Nova are accelerating the monetization of HLTOY's fiber infrastructure.
- HLTOY is focusing on digitization and efficiency improvements, aiming to enhance productivity while investing in network expansion.
- HLTOY faced challenges in Romania, with deteriorating topline and squeezed profitability due to tax settlement provisions.
- Fixed service revenues in Greece remained flat, with pressure on legacy services and a decline in voice lines.
- Energy costs increased significantly due to a shift from long-term contracts to spot tariffs, impacting financials.
- The rollout of fiber infrastructure was slower than expected during the summer, raising concerns about future expansion.
- HLTOY's operations in Romania continue to be affected by a highly competitive market and mobile termination caps.
Ladies and gentlemen, thank you for standing by. I am Mina. Your course cooperator. Welcome and thank you for joining the tech conference call and live webcast to present at our quota in nine months, 2024 financial results, all participants will be in a listen-only mode and the conference is being recorded. The presentation will be followed by a question and answer session. Should anyone need assistance during the conference call? You may signal an operator by pressing star and zero on your telephone. At this time. I would like to over to Mr Konastantinos Nabis CEO of Tech Group. Mr Babis Magara, Chief Financial Officer, Mr Panayiotis, Gis, Chief Marketing Officer, Consumer Segment of Tech Group, and Mr Risdi, head of Ir and M&A Mr Nebis. You may now proceed.
Thank you now. So greetings to all of you and welcome to our results call for the third quarter of 2024.
Starting with Greece. We reported this morning, a solid quarter of operations pretty
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