At the same time, its TV revenues grew by 3% over the same period.
The telco’s revenues in the fixed sector as a whole were up 4.6%, reflecting its successful Fixed-Mobile Convergent (FMC) solution, customised ICT projects and higher wholesale revenues.
In OTE’s home market Greece, the company saw a 10.2% year-on-year grow in Cosmote TV subscribers, ending Q1 with a total of 504,794. However, in Q1 alone it gained only 2,000 subscribers. OTE group’s revenues in Q1 were, at €929m million, 0.1% up on a year earlier. Adjusted EBITDA was €304.1 million (-1.7%) and adjusted profit €38.2 million (+4.1%).
Commenting on the results, Michael Tsamaz, OTE’s chairman & CEO, said: “We are facing intensified competition in Greek fixed and further pressure on our customers’ disposable income. To contain these factors, our priority is to continuously enhance service offering and customer experience, with solutions specifically tailored to our clients’ needs. Once again, our strategy paid off this quarter. Our flagship investments in fibre drove the growth, in broadband revenues and subscriber numbers, offsetting the pressure in voice. In mobile, our focus remains on steadily enhancing the value we provide to our customers with increasingly attractive bundles. This approach is paying off, as data traffic is growing fast and we are monetizing our investments. From a seasonally low quarter, we anticipate a gradual improvement as we leverage the expanding reach of our VDSL network and any improvement in the business environment.”
He added: “The digital age in which we live and operate requires speed, efficiency and adaptability. We will continue to improve our networks and services across the board to meet our clients’ expectations and reach our sustainable growth targets.”