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Bucharest
August 6, 2021
BUSINESS

Cosmote incomes up to EUR 120.6 M

Cosmote Romania posted 2.6 pc higher incomes in Q3 this year, against the same interval of 2010, to EUR 120.6 M, while the earnings before interest, taxes, depreciation and amortization (EBITDA) soared by 26.6 pc to EUR 29.5 M, due to higher incomes from services, reads a press release issued by the telephony company OTE. However, the company suffered a 7.3 pc decrease of its customer base at September 30, against a year ago, to 6.54 million, of which 22.8 pc are on subscription.

OTE also announced the results of Romtelecom, which increased the customer base of its broadband internet, and television services. The number of customers that access the internet via Romtelecom has increased by 16.8 pc, from 947,379 to 1.107 million over the given 12 months, while the number of subscribers to TV services increased by 20.4 pc, from 1.003 million to 1.208 million.

The total number of subscriptions to the services provided by the company (telephony, internet, TV) soared by 5.3 pc, to 4.9 million. However, the company incomes dropped by 11.8 pc in the third quarter, to EUR 160.1 M, and the EBITDA declined by 5.6 pc, to EUR 36.9 M, mainly because of lower earnings from land telephony. The decline of incomes and of the EBITDA in Q3 “partly reflects a change in the accounting policies aimed at the recognition of income forecast, and a change in commercial policies,” the CFO of Romtelecom, Anastasios Tzoulas explained.

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