OTE Group is the largest technology company in Greece. It is one of the top listed companies with respect to capitalization on the Athens Stock Exchange and is also listed on the London Stock Exchange. Deutsche Telekom holds 53.45% of OTE's share capital and the Greek State holds 7.75%. In 2023, OTE Group employed 10,590 people.
Under the unified commercial brand COSMOTE, OTE Group offers a wide range of services: fixed-line and mobile telephony, broadband services, pay-TV and integrated ICT solutions. The Group is also active in real-estate, as well as in e-payments, online food delivery and the digital insurance market. Abroad, the Group operates in the mobile telecommunications market of Romania.
Telecommunications infrastructure
OTE Group invests heavily in New Generation Networks, creating infrastructure that boosts the Greek economy and creates growth potential. With investments of more than €5 billion over the past decade, it is the largest investor in new technologies and infrastructure in Greece, having also announced investments exceeding €3 billion by 2027, mostly for the development of FTTH and 5G networks.
Realizing the largest telecommunications investment made in Greece in the last decades, OTE's FTTH footprint has already reached over 1.3 million homes passed. OTE plans to continue speeding up FTTH deployment to reach 1.8 million homes by the end of 2024 and 3 million households and businesses by 2027, thus covering nearly 2/3 of the lines in Greece.
COSMOTE was the first to bring 5G to Greece, with its population coverage currently exceeding 90%. The development of COSMOTE 5G, the country's largest fifth-generation network, is continuing at a rapid pace, aiming for further coverage growth by the end of 2024. COSMOTE has already completed the upgrade of its 5G network infrastructure to 5G Stand-Alone (SA), which will provide higher download and upload speeds, ultra-low latency, improved indoor coverage and even greater reliability of communications.
Financial Data
For 2023, the Group announced turnover of €3,468.9 million, for an increase of 0.4%. Adjusted EBITDA amounted to €1,342.5 million and the EBITDA margin to 38.7%. Similarly, adjusted free cash flow came to €543.5 million and adjusted Net Debt fell by 12.6%, at €634.8 billion, corresponding to 0.5 times the annual adjusted EBITDA (AL).
Sustainable development
Sustainability is integrated into the Group's business strategy and operations as a key priority. The Group's Sustainability strategy is fully aligned with that of Deutsche Telekom Group, focusing on four priorities: Climate Neutrality, Circular Economy throughout the Value Chain, Inclusion and Equal Opportunities at Work, and Digital Society for all.
OTE Group participates in various international and national sustainability indexes and ratings, including FTSE4Good, 'Prime' Corporate ESG Performance in ISS-ESG, MSCI ESG Rating, CDP on Climate Change issues, Bloomberg LP Gender-Equality Index (GEI) and ATHEX ESG Index.
