OTE-backed Telekom Romania saw its TV (DTH, IPTV and cable) subscriber total grow by 0.8% to 1,464,283 in 2016.
At the same time, according to results published by its parent company OTE, TV revenues rose by 4%.
Telekom Romania saw its broadband subscriber total fall by 1.5% to 1,8185,797, with fixed voice subscribers also down, by 1.3% to 2,150,814.
However, there was a sharp increase in its Fixed Mobile Convergent (FMC) customer base, up by 63.8% to 370,524.
Fixed line revenues in 2016 amounted to €602.5 million (+0.1%) and adjusted EBITDA €93.5 million (-21%).
In its home market Greece, OTE ended 2016 with 502,696 Cosmote TV (IPTV and satellite) subscribers, up 12.6% on a year earlier.
Full year revenues for the group as a whole were €3,908.1 million (+0.1%), adjusted EBITDA €1,320.9 million (-1.6%) and adjusted profit to owners of parent €230.2 million (-4.3%).
Commenting on the company’s Q4 and FY results, Michael Tsamaz, OTE’s chairman & CEO, said: “With a robust fourth quarter, we are delivering our first annual top-line growth at the group level in a decade. Full-year revenues were fueled by our continued strong performance in Greece, where our investments in networks are paying off. Greek fixed-line revenues were up by more than 2% in the full year, thanks to continued strong showing in broadband, particularly VDSL, and pay-TV. As a result, we achieved our best EBITDA margin ever in Greek fixed. In Greek mobile, with an improving trend in service revenues in the full year and a solid EBITDA margin, we are well positioned to meet this year’s challenges. Competitive pressures remain tough in Romania, but we are starting to see signs of stabilization. At the consolidated level, full-year EBITDA was resilient, our Free Cash Flow generation met our revised target, and our net debt was down by more than €300mn from last year’s level.
“We have made the strategic decision to significantly increase our investment plan for 2017. The networks we are building are designed to meet the needs of households and businesses in the digital age. Underscoring our confidence in our future, the board has proposed to increase this year’s dividend to €0.16 per share.”
