OTE
Hellenic Telecommunications Organization
Q2 2021 Results
August 2021
Disclaimer
This presentation is provided to persons who are entitled to receive it in accordance with the laws and regulations of appropriate jurisdictions. This presentation is provided for information purposes only and does not constitute an offer or an invitation to buy or sell or subscribe to any securities or a solicitation of an offer to buy or sell or subscribe for any security or instrument or to participate in any trading strategy. No part of this presentation may be construed as constituting investment advice or recommendation to enter into any transaction or as providing the basis for any credit or other evaluation. No representation or warranty is given with respect to the accuracy or completeness of the information, estimations, provisions, future expectations or other data, contained in this presentation, and no claim can be made that any transaction of any security will conform to any terms that may be contained herein. Under no circumstance, should OTE, or any of its directors, officers or employees be held liable for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on any information contained in this presentation. Information contained herein may change without notice and OTE undertakes no obligation to update it.
Before entering into any transaction, investors should determine any economic, trading and financial risks, restrictions and benefits, as well as any legal, tax, accounting consequences of doing so, and their ability to assume such risks, without reliance on the information contained in this presentation. You should consult a professional financial advisor before entering in any transactions in securities mentioned herein.
In addition to figures prepared in accordance with IFRS, OTE also presents alternative performance measures, including, among others, EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, free cash flow, adjusted free cash flow, net debt, adjusted net debt, Capex and adjusted Capex. These alternative performance measures should be considered in addition to, but not as a substitute for, the information prepared in accordance with IFRS. Alternative performance measures are not subject to IFRS or any other generally accepted accounting principles. The purpose and calculations of all 'Adjusted' data and the Alternative Performance Measures presented are detailed in the Alternative Performance Measures Section in the Quarterly Press Releases.
All figures (apart from Balance Sheet) adjusted to reflect only continuing operations; Telekom Romania (TKR) operations along with certain significant commercial transactions (MVNO agreement and handset sales) between TKR and Telekom Romania Mobile (TKRM) have been classified as held for sale and have been treated as discontinued operations.
https://www.cosmote.gr/fixed/en/corporate/ir/financial-results/financial-statements-of-ote-group-and-ote-sa
OTE | Q2 2021 RESULTS 2
Key Developments
Spin-off of Greek frontline into standalone entities was completed
- Customer Service
- Shops
- Technical Field Operations
-
effectiveness o efficiency
o agility
Agreement to sell 54% stake in Telekom Romania (Fixed, TKR ) to Orange Romania
- €497m for 100%
-
€268mn for
OTE's stake
Completion expected within H2 of 2021*
*Conditional approval by EC, subject to the divestment, by TKR, of its 30% stake in Telekom Romania Mobile. OTE intends to acquire this stake (estimated purchase price at €59.5mn
OTE continues to invest in its network superiority and is rolling out FTTH infrastructure
- 388k households as of Q2'21
- >550k households by the end of 2021
1st in Greece to | The voluntary exit | ||
launch 5G services | schemes (VES) | ||
following auction | implemented in | ||
in late 2020. | 2020 adopted by | ||
COSMOTE renewed | >1,300 people | ||
and was granted | bolstering the | ||
blocks in: | |||
agility and | |||
| 700 MHz | ||
responsiveness of | |||
| 2 GHz | our whole | |
| 3400-3800 | organization. | |
MHz | |||
| 26 GHz | ||
- 2021 to 2024 seasons rights to broadcast UEFA:
- Champions League
- Europa League
- Europa Conference League
- 2021 to 2024 seasons rights to broadcast:
- Italian football Lega Serie A
OTE | Q2 2021 RESULTS 3
Q2 Highlights
+8.0%
Revenues
+6.9%
Adj. EBITDA (AL)
€163mn €157mn
Adj. FCF | FCF |
€480mn (+20%)
Shareholders Remuneration
TKR Disposal
Strong Greek operations
Gradual recovery from the COVID-19 crisis
Adjusted EBITDA (AL) margin at 37.5%
FCF up €29.9mn, mainly reflecting payments related to voluntary exit schemes in 2020
€480mn shareholder return guidance for FY 2021 confirmed; €0.68/share dividend paid in July
Conditional approval by EC for the disposal of Telekom Romania (Fixed)
Continuing recovery in Greece
Strong top line: +9.6%
7.4% increase in mobile service revenues, roaming rebounding Broadband growth supported by demand for higher speeds
Solid profitability: +6.5%
yielding a margin of 40.0%
Revenues: €74.7mn
Revenues were down 5.6%, a significant improvement compared to prior quarters trends
Adj. EBITDA (AL) +26.4%
Ongoing cost containment effort
OTE | Q2 2021 RESULTS 4
Financial Review
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OTE - Hellenic Telecommunications Organization SA published this content on 05 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2021 09:15:02 UTC.