Q4 2024 Hellenic Telecommunications Organization SA Earnings Call Transcript
Key Points
- Hellenic Telecommunication Organization SA (HLTOY) achieved sustained revenue growth and higher adjusted EBITDA in Greece throughout 2024, with a slight acceleration in the fourth quarter.
- The company maintained its network leadership with 99% 5G coverage, making it one of only three global networks certified as best in test for 10 consecutive years.
- Significant progress was made in the deployment of the fiber to the home network, reaching 1.7 million homes, with a target of 2.1 million homes for 2025.
- Pay TV operations showed strong revenue growth, up 11%, driven by content sharing agreements and anti-piracy legislation, which is expected to continue boosting customer base.
- The company is focusing on cost efficiencies, with operating expenses dropping by 2.5% in the quarter, and expects energy cost savings of about EUR5 million in 2025.
- Group revenues were down nearly 3% due to low margin revenues and base effects in Greece, with Romania continuing to face challenging operations.
- Retail fixed service revenues declined by 1.4% due to the elimination of a EUR1 bill discount and ongoing pressure on legacy services.
- Romania's operations negatively impacted free cash flow by approximately EUR70 million, with ongoing topline pressure and a new tax on revenues.
- International wholesale revenues were erratic, leading to a 14% downturn in the quarter, impacting overall wholesale revenue performance.
- The company faces potential competitive pressures in the market, with new competitors like PPC entering the telecom space, although their impact is yet to be fully assessed.
Ladies and gentlemen, thank you for standing by. I am your Chorus Call operator. Welcome and thank you for joining the OTE conference call and live webcast to present and discuss the fourth quarter and full year 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 and 0 on your telephone.
At this time, I would like to turn the conference over to Mr. Kosta Nebis, CEO of OTE group, Mr. Babis Mazarakis, Chief Financial Officer, Mr. Panayiotis Gabrielides, Chief Marketing Officer, Consumer Segment, OTE Group; and Mr. Evrikos Sarsentis, Head of IR and M&A.
Mr. Nebis, you may now proceed.
Thank you. So good morning or good afternoon to all. I'm pleased to be here with you today and to welcome you to the
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