The following is a summary of the Hellenic Telecommunications Organization S.A. (HLTOY) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Hellenic Telecommunications reported a 9% increase in group revenues along with a 1% rise in EBITDA after leases.

• Greece's EBITDA after leasing grew by 1.5% to exceed €323 million, resulting in a 39.8% margin.

• Despite mobile termination rate cuts affecting Romania performance, the company managed to return over €3 billion to its shareholders.

• The organization reassured adherence to the projected 2024 financial guidance.

Business Progress:

• Strategically, Hellenic Telecommunications has focused on internal growth, simplification, and digitization over the past decade.

• Investments in technology, networks, and customer experience led to a successful digital and financial services launch.

• The company anticipates an uptake in fixed revenue due to rapid fiber deployment in Greece, expecting to support this growth in Q4 2024 and throughout 2025.

• Despite high personnel expenses, the company's focus remains on cost discipline with a continued strategy of personnel optimization, digitalization, and voluntary retirement schemes.

• Work continues on the disposal process for the Romania unit, with expected reduction in energy costs by 2025.

• The deployment of their 10 gigabyte fixed consumer service is expected to become a premium offering, currently in demo status.

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