Hellenic Telecommunications Organization Sa · ATHEX:HTO
Hellenic Telecommunications Organization Sa — OTE Group — Q1 2025 Earnings Presentation
31 slides from Hellenic Telecommunications Organization Sa's earnings presentation, May 2025
Slide 1: OTE Group Q1 2025 Results
OTE Group Q1 2025 Results
Slide 2: Disclaimer
2 Disclaimer This presentation is provided to persons who are entitled to receive it in accordance with the laws and In addition to figures prepared in accordance with IFRS, OTE also presents alternative performance measures, regulations of appropriate jurisdictions. This presentation is provided for
Slide 3: OTE 2030 Vision
3 OTE 2030 Vision Become Europe’s leading Digital Telco elevating Greece to the forefront of digitalization in Europe, connecting customers to enjoy better lives & empowering businesses to grow, leveraging data/AI and Telekom group global scale, while fostering an inspiring workplace where our peopl
Slide 4: Our Flywheel strategy empowers us to realize Vision 2030
4 Our Flywheel strategy empowers us to realize Vision 2030 6 Leverage T global scale Scale up Data / AI 5 6 1 1 Gigabit for All 5 5G for All Service Revenues/Margin 4 EBITDA 4 Cash Contribution 2 Unlock the Pay TV Load reduction & digital deflection 3 Accelerate businesses digitalization 3 2 Transfo
Slide 5: Our Strategic Priorities
5 Our Strategic Priorities Gigabit for All: Unlock the Pay TV: Load reduction & Scale up Data / AI: Leverage T global scale: Love brand: Lead in Gigabit broadband Unlock the legal Pay TV market digital deflection: Scale up Data / AI Leverage global scale, based Capitalise on the power of experience (
Slide 6: Key Developments
6 Key Developments FTTH Gigabit Voucher OTE - NOVA FTTH Wholesale Fixed Wireless COSMOTE TELEKOM • Launched late in November 2024 TV Agreement • Volume discounts in the FTTH whole- Access - FWA New Commercial Identity • €200 maximum coupon sale market in place • Cross-supply of sports channels • The
Slide 7: OTE FTTH Rollout and 5G+
OTE Group: Market leader in FTTH Investment Plan > € 3bn infrastructure in Greece FTTH FOOTPRINT (HOMES PASSED) OTE ACCOUNTS FOR A SUBSTANTIAL 02 ‘SHARE OF THE COUNTRY’S INSTALLED \ 12025 By the end of 2025 “1.8m = ~2.m FTTH LINES ONGOING CONSTRUCTION WORK (OF THE ULIRA-FAST BROADBAND INFRASTRUCTURE
Slide 8: Mobile Network Superiority in Greece
8 Mobile Network Superiority in Greece OOKLA: COSMOTE Telekom Fastest Mobile Network Umlaut Best in Test certification, for 10th consecutive time, for 8th consecutive year for its mobile internet and voice services in Greece 152.69 67.09 75.32 COSMOTE TELEKOM 5G SA THE ONLY AVAILABLE IN GREECE MEDIAN
Slide 9: ra & q (e9 o = O°
2 5 3 ra & q (e9 2 5 2 o = O°
Slide 10: Group Overview
10 Group Overview Q1 2025 OTE Group is the largest telecommunications ROMANIA provider in the Greek €878.8m €125.5m market with presence REVENUES (YOY +0.1%) CAPEX (YOY +6.8%) also in Romania. OTE is among the largest listed companies in the Athens Stock Exchange. GREECE €329.1m €96.7m ADJ. EBITDA (
Slide 11: Revenues & Adj. EBITDA (AL)
11 Revenues & Adj. EBITDA (AL) 911 905 Total Revenues (€m) 878 897 879 3,591 3,469 9.2% 6.6% 1.8% -2.7% 0.1% FY 2023 FY 2024 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 yoy change % Adj. EBITDA (AL) (€m) 39.0% 38.1% 37.1% 37.4% 35.9% 38.7% 37.5% 350 345 326 327 329 1,343 1,347 1.2% 0.0% -0.7% 1.0% 1.0% FY 2023 FY
Slide 12: Capex & Cashflow
12 Capex & Cashflow Adjusted Capex (€m) 167 621 159 600 156 Q1 2025 610-620 126 118 17.9% €117m 16.7% GREECE 18.4% 13.4% 17.1% 17.8% 14.3% €8m ROMANIA FY 2023 FY 2024 FY 2025 Guidance Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 As % of sales As % of sales Reported FCF (€m) Q1’25: -30.4m 501 ~460 127 121 444 95 101
Slide 13: Shareholder Remuneration Policy
13 Shareholder Remuneration Policy €451m In case TKRM disposal concludes successfully 2025 Shareholder Remuneration Total Shareholders within 2025 and depending on the outcome, payout for 2025 the proposed amount for shareholder remuneration will be adjusted accordingly €451m ➢ €298m Dividends; €0.7
Slide 14: Debt and Liquidity Profile
14 Debt and Liquidity Profile 0.4x 0.3x 0.5x 0.5x 0.4x 1,146 1,110 1,089 1,143 1,111 684 643 562 Net Debt/Adj.EBITDA (AL) 521 457 Net Debt Net Debt/Adj.EBITDA (AL) (462) (467) at €562m at 0.4x (568) (550) (686) Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Gross Debt Cash Net Debt Debt Maturity Profile (€m) (Nominal
Slide 15: OTE Group Q1 2025 Results
OTE Group Q1 2025 Results
Slide 16: Key Highlights
16 Key Highlights Q1 2025 ~ +0.8% +1.8% 40.2% REVENUES ADJ. EBITDA (AL) MARGIN +1.2% +14.5% MOBILE SERVICE REVENUES TV REVENUES FTTH subscribers' Post paid additions subscribers up +36k +6.1% TV additions ICT Growth at +8k +18% ADJ. EBITDA (AL) 2025 Guidance: ~ +2%
Slide 17: Greece – Financial Overview
17 Greece – Financial Overview Total Revenues (€m) Adj. EBITDA (AL) (€m) 846 39.8% 38.6% 42.4% 40.7% 40.2% 3, 340 3,189 3,334 30. 0% 833 843 819 25. 0% 812 41.6% 40.4% 2, 840 20. 0% 10.3% 1,346 353 343 7.6% 1,326 329 2, 340 15. 0% 323 327 10. 0% 2.5% 1, 840 5. 0% -1.4% 0.8% 1.8% 1.8% 1.5% 1.5% 0. 0%
Slide 18: Greece – Financial Overview
18 Greece – Financial Overview Retail Fixed Revenues (€m) Retail fixed service revenues nearly stable (-0.2%) 915 911 • Strong TV performance, supported by sports content sharing agreement 229 228 229 228 227 • Legacy services face ongoing challenges due to market and technology shifts • Retail fixed
Slide 19: OTE – Fixed & Broadband KPIs
19 OTE – Fixed & Broadband KPIs OTE Fixed Lines Evolution (000) OTE Broadband lines Evolution (000) 2,356 2,356 2,352 2,351 2,350 2,611 2,602 2,587 2,581 2,571 3 -1 1 0 -7 -6 -6 -9 -9 -15 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Additions Additions OTE BB Penetration on Fixed FMC
Slide 20: OTE – FTTH
20 OTE – FTTH FTTH Homes passed (000) Utilization on homes passed by OTE’s infrastructure (%) 1,774 1,717 1,512 205 1,375 1,460 29% 26% 26% 22% 24% 86 44 52 56 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Additions Q4'24 Q1'25 84% on OTE’s infrastructure FTTH Retail Subscribers (000)
Slide 21: OTE – COSMOTE TV
21 OTE – COSMOTE TV Q1’25: +6.8% yoy TV Subscribers (000) 733 726 710 • Sports content sharing agreement with NOVA 687 687 • Positive additions of 8k in Q1’25 24 15 • Approval of antipiracy legislation in beginning 8 of 2025 10 0 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 TV net additions • UEFA Champions League
Slide 22: OTE – Mobile KPIs
22 OTE – Mobile KPIs Total Subscribers (000) Q1’25: Post Paid +6.1% yoy 7,107 7,189 7,185 7,143 7,137 4,375 4,405 4,361 4,286 4,238 59% 41% 2,732 2,784 2,823 2,857 2,900 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Prepaid Postpaid Postpaid Prepaid Avg.Data usage* (GB) 15.9 15.3 15.8 Q1’25: +32% yoy Another positi
Slide 23: OTE – Digitalization
23 OTE – Digitalization Smartphone penetration (%) The push towards digitalization is driving a new wave of 82% 82% 82% 82% transformation and increasing operational efficiencies 81% +1pp “BOX”, food delivery platform Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Payzy Subscribers (000) Registered Users Youth Segment
Slide 24: OTE Group Q1 2025 Results
OTE Group Q1 2025 Results
Slide 25: 2024 Sustainability Commitments - Performance
25 2024 Sustainability Commitments - Performance 2024 PERFORMANCE CLIMATE NEUTRALITY OTE Group contributes to DT Group Climate Targets: • 100% Renewable electricity, from 2021 onwards • 100% Renewable Electricity: 444 GWh • Climate neutral in terms of own emissions (Scope 1&2) by 2025, including up
Slide 26: Sustainability Strategic Priorities: Commitments 2025 onwards
26 Sustainability Strategic Priorities: Commitments 2025 onwards CLIMATE NEUTRALITY OTE Group contributes to DT Group Climate Targets: • 100% Renewable electricity, from 2021 onwards • Climate neutral in terms of own emissions (Scope 1&2) by 2025, including up to 95% reduction by 2025, compared to 2
Slide 27: OTE Group Q1 2025 Results
OTE Group Q1 2025 Results
Slide 28: Telekom Romania Mobile – Financial Overview
28 Telekom Romania Mobile – Financial Overview Total Revenues (€m) Adj. EBITDA (AL) (€m) 287 5.9% 263 0.4% 17 4.2% -0.1% -4.5% 2.2% 0.0% 66 67 66 64 61 3 0 -3* 1 0 1 FY 2023 FY 2024 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 FY 2023 FY 2024 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 *Excluding tax audit related items at ~€1m
Slide 29: Telekom Romania Mobile – Financial Overview
29 Telekom Romania Mobile – Financial Overview Mobile Service Revenues (€m) 185 155 39 38 40 37 36 FY 2023 FY 2024 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 • Challenging competitive dynamics in the markets • TKRM another quarter of growth in postpaid base, up 2.1% yoy
Slide 30: Telekom Romania Mobile – KPIs
30 Telekom Romania Mobile – KPIs Q1'25: Post Paid +2.1% yoy Data Revenues (€m) Total Subscribers (000) 3,661 3,601 3,547 3,517 22 22 3,444 20 21 21 1,729 1,650 1,587 1,548 1,471 1,932 1,951 1,960 1,969 1,973 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q1’24 &# Q2’24 Q3’24 Q4’24 Q1’25 Postpaid Prepaid Data Revenue
Slide 31: Thank you.
Thank you. GROUP OF COMPANIES