OTE

OTE Group: The Backbone of Greek Telecommunications

Imagine a world where communication is as seamless as breathing—this is what Hellenic Telecommunications Organisation S.A., or OTE Group, strives to achieve in Greece and beyond. This technology giant has been the backbone of telecommunications for decades, evolving from a state-owned monopoly into a thriving private enterprise with a global reach.

From Monopoly to Market Leader

OTE Group’s journey began on October 23, 1949, as a successor to the Hellenic Telephone Company. The company was initially a state-owned monopoly but started its privatization process in 1996. Today, it is listed on both the Athens and London Stock Exchanges, with Deutsche Telekom holding a significant stake of 54.3%. This transformation from a government-controlled entity to a market leader showcases OTE Group’s resilience and adaptability.

Global Reach and Subsidiaries

With approximately 33,000 employees worldwide, OTE Group is not just a Greek company; it’s an international player. Its subsidiaries like COSMOTE e-value, Germanos, OTE Estate, and OTEAcademy offer a diverse range of services from contact center operations to real estate management and education.

Services Galore

OTE Group offers fixed-line and mobile telephony, broadband services, pay television, and integrated Information and Communications Technology (ICT). These services are like the veins and arteries of modern society—essential for both personal and professional life. Imagine a world without these services; it would be akin to living in the dark ages of communication.

Financial Performance

In 2021, OTE Group’s turnover was €3,368.3 million, marking a 3.4% increase from the previous year. The company’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) reached €1,295.9 million, with an impressive EBITDA margin of 38.5%. Adjusted free cash flow was €590.1 million, and the Group’s adjusted net debt fell by 25.0%, corresponding to 0.6 times the annual adjusted EBITDA (AL).

Strategic Acquisitions and Expansions

The company has made strategic acquisitions such as GSM License in Bulgaria, establishing Globul to exploit this license. These moves have not only expanded OTE Group’s footprint but also solidified its position in the telecommunications market.

Key Events and Milestones

From 1949 when it was founded as a successor to Hellenic Telephone Company, to 2018 when Deutsche Telekom acquired an additional 5% of OTE, each milestone has been crucial in shaping the company’s journey. Notable events include the launch of ADSL services, the expansion into the Balkans and SE Europe, and the acquisition of COSMOTE.

Technological Advancements

OTE Group has consistently pushed the boundaries of technology. From launching ADSL services to introducing VDSL Internet with speeds up to 50 Mbit/s, each advancement brings us closer to a fully connected world. The company’s commitment to innovation is evident in its continuous investment in fiber optic networks and the integration of pay TV services under the OTE TV brand.

Conclusion

OTE Group stands as a testament to Greece’s technological prowess, evolving from a state-owned monopoly into a global telecommunications giant. Its journey is marked by strategic acquisitions, financial stability, and a relentless pursuit of innovation. As we look towards the future, OTE Group continues to be at the forefront of shaping our connected world.