Greece · Delayed Price · Currency is EUR Hellenic Telecommunications Organization Earnings Call Transcripts
Fiscal Year 2025
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Strong revenue and EBITDA growth in 2025 was driven by FTTH, Pay TV, and mobile, with robust cash flow and a new shareholder remuneration policy based on actual free cash flow. 2026 guidance targets 3% EBITDA growth and EUR 750 million FCF, with continued investment in fiber and 5G.
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Exited Romanian market, boosting cash flow and enabling a €40M extraordinary dividend. Greek revenues rose 5% with strong growth in FTTH, TV, mobile, and ICT. CapEx guidance remains at €600M, with Free Cash Flow guidance raised to €530M for 2025.
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Regulatory approval for the Romanian disposal paves the way for portfolio optimization and a planned extraordinary shareholder distribution. Greek operations delivered revenue and EBITDA growth, led by FTTH, TV, and mobile, with strong cost control and positive outlook for continued momentum.
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First quarter 2025 saw stable group revenues and EBITDA growth in Greece, driven by mobile, TV, broadband, and ICT. FTTH and 5G investments continued, with strong customer additions and TV revenue growth. Guidance for 2025 is reiterated, and the Romania disposal is progressing.
Fiscal Year 2024
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Solid operational performance in 2024 with growth in adjusted EBITDA, strong FTTH and pay-TV momentum, and continued cost efficiencies. 2025 guidance targets 2% EBITDA growth in Greece, with capital allocation focused on dividends and share buybacks. Romania remains a drag, but disposal could improve outlook.
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Q3 2024 saw 2% group revenue growth, strong TV and FTTH subscriber gains, and stable Greek EBITDA margins, offset by Romania's tax-related losses. Government FTTH subsidies, tax changes, and TV deals are set to drive growth in 2025.
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Group revenues grew 7% year-over-year, led by strong Greek operations in mobile, TV, ICT, and wholesale, while Romania remained a drag. FTTH and pay TV initiatives, including new wholesale and content sharing agreements, are set to drive future growth. Full-year guidance for CapEx, free cash flow, and shareholder returns is confirmed.