The following is a summary of the Hellenic Telecommunications Organization S.A. (HLTOY) Q4 2023 Earnings Call Transcript:
Financial Performance:
Hellenic Telecommunications reported a 1% increase in revenues and EBITDA despite intense competition.
Strong performances were seen in mobile service revenues, Greek Retail Fixed Services, and ICT revenues.
Despite a small drop in free cash flow, the company plans an increased remuneration to shareholders, including a 23% dividend increase.
The company reported a 5% increase in total group revenues for Q4, with growth seen in Greece and Romania.
EBITDA increased by 1.6% in Greece and was over €4 million in Romania.
Full year EBITDA margin came in at a healthy 41.6%.
Total revenues at Romanian operations rose by 6% to €78 million.
Free cash flow after leases for the full year was €501 million, as per guidance.
Business Progress:
The company made notable strides in its broadband subscribership and in the TV market.
A shift achieved from prepaid to postpaid services in the mobile segment.
Over the coming year, the company aims to maintain their leadership in the Greek market while deciding the way forward in Romania.
Several leadership changes in the company are expected in 2024.
The company outlined their independent pricing strategy, opted to leverage voucher subsidies, and remained cautious of inflationary increases.
The company added 13,000 broadband customers in the fourth quarter, raising broadband penetration to nearly 88%.
Hellenic Telecommunications secured 35,000 additional fiber to the home subscribers, a year-over-year increase of 83%.
The company plans further investment in infrastructure, powered by an expected free cash flow of around €470 million.
The company is ahead of its 5G population coverage targets, further bolstering its prospects.
More details: OTE(HELLENIC TELECOM ORGANIZATION) LVL III ADS EACH REP 1/2 ORD EUR2.83 IR
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