Hellenic Telecommunications Organization SA
OTC:HLTOF
Hellenic Telecommunications Organization SA
In the bustling world of communications and technology, Hellenic Telecommunications Organization SA, often known as OTE, stands as a pivotal player in Greece. Established in 1949, OTE has evolved from a traditional telephone service provider to a modern communications giant. At the heart of its operations is the delivery of integrated telecom solutions, ranging from fixed-line telephony services to mobile communication, broadband internet, and subscription-based television. Throughout its journey, OTE has embraced the digital transformation wave, constantly innovating and expanding its suite of services. It has successfully capitalized on its robust infrastructure and technological expertise to cater to both residential and business clients across diverse needs.
Financially, OTE generates its revenue through a well-diversified portfolio. A significant chunk comes from its mobile segment, under the Cosmote brand, which provides a variety of voice and data packages tailored for individual and corporate users. Additionally, OTE's fixed-line segment, although mature, still contributes substantially as it transitions customers to fiber-optic and digital services. The broadband and television sectors have shown consistent growth, tapping into the increasing demand for reliable connectivity and high-quality entertainment content. With a strategic partnership with Deutsche Telekom, which owns a large stake in the company, OTE benefits from synergies that bolster its competitive position, allowing it to maintain a strong financial footing and continue its quest for innovation in the Greek and Southeast European markets.
In the bustling world of communications and technology, Hellenic Telecommunications Organization SA, often known as OTE, stands as a pivotal player in Greece. Established in 1949, OTE has evolved from a traditional telephone service provider to a modern communications giant. At the heart of its operations is the delivery of integrated telecom solutions, ranging from fixed-line telephony services to mobile communication, broadband internet, and subscription-based television. Throughout its journey, OTE has embraced the digital transformation wave, constantly innovating and expanding its suite of services. It has successfully capitalized on its robust infrastructure and technological expertise to cater to both residential and business clients across diverse needs.
Financially, OTE generates its revenue through a well-diversified portfolio. A significant chunk comes from its mobile segment, under the Cosmote brand, which provides a variety of voice and data packages tailored for individual and corporate users. Additionally, OTE's fixed-line segment, although mature, still contributes substantially as it transitions customers to fiber-optic and digital services. The broadband and television sectors have shown consistent growth, tapping into the increasing demand for reliable connectivity and high-quality entertainment content. With a strategic partnership with Deutsche Telekom, which owns a large stake in the company, OTE benefits from synergies that bolster its competitive position, allowing it to maintain a strong financial footing and continue its quest for innovation in the Greek and Southeast European markets.
Revenue Growth: OTE delivered solid revenue growth in both Fixed and Mobile businesses in 2025, with Fixed returning to retail growth after four years and Mobile accelerating in Q4.
Fiber Momentum: Record FTTH (Fiber-to-the-Home) net additions were achieved, bringing the FTTH customer base to 567,000, and FTTH now represents 24% of the total broadband base.
Shareholder Returns: A new remuneration policy was introduced, proposing a 22% dividend increase and a 16% increase in share buybacks, with nearly 100% of free cash flow returned to shareholders.
Mobile & 5G Strength: Mobile service revenues grew by 5.2% in Q4, with strong growth in postpaid and 5G adoption; OTE operates the only commercial 5G stand-alone network in Greece.
Cash Flow & Guidance: Free cash flow after leases reached EUR 543 million for 2025, with 2026 guidance set at approximately EUR 750 million (including one-off tax benefits), and underlying organic FCF of EUR 570–580 million.
EBITDA Outlook: Adjusted EBITDA after leases grew by 2.3% in Q4, and management targets approximately 3% EBITDA growth for 2026, driven largely by cost efficiency initiatives.
CapEx Commitment: CapEx reached EUR 612 million for 2025 (up nearly 9%), with guidance of around EUR 600 million for 2026, mainly supporting FTTH and 5G rollouts.
ICT & Pay-TV: ICT business and pay-TV saw double-digit growth, supported by strategic partnerships and antipiracy measures.
