Cosmote and Germanos stay on growth, post revenues of EUR 117.5mln in Q3

Newsroom 04/11/2010 | 15:45

In Romania, mobile operator Cosmote and GSM retailer Germanos, both part of OTE group, posted revenues of EUR 117.5 million, which represented an 8.5 percent growth on Q3, 2009, when revenues amounted to EUR 108.3 million.

EBITDA rose up to EUR 23.3 million.”EBITDA grew by 12 percent compared to the same period last year, in contrast to the negative performance posted in the first half of the year, showing significant operating improvements following the successful integration of Zapp,” says the OTE report.

“We are pleased with our positive performance during the third quarter, despite the challenging economic environment, decreasing consumption and intense competition. We have continuously shaped the costs structure in order to improve our efficiency and adapt to the difficult environment, without affecting the quality of our services. We’ve kept enriching our product and services portfolio, and we’ve gained significant market share in the corporate segment, consolidating our position in the market”, said Konstantinos Apostolou, Cosmote Romania’s CFO.

At of the end of Q3’10, Cosmote’s total customer base in Romania reached 6.7 million (excluding Zapp), of which 20.1 percent was postpaid. The increase in the postpaid customer base, especially in the business segment, generated significant revenue growth. The number of prepaid customers also rose. In the quarter, service revenues were up by 3.4 percent, with outgoing service revenues alone posting an increase of approximately 2.0 percent, according to the OTE report.

Currently having a market share of over 24 percent, Cosmote Romania will focus on further consolidating its position in the broadband and corporate segments.