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General

OTE improves cash flow as Greek market stabilises

Wednesday 13 May 2015 | 10:21 CET | News
Greek operator OTE reported a strong increase in cash flow in the first quarter, amid a continued recovery in results in its home market. Revenues were still down 2.4 percent year-on-year to EUR 940.8 million, and adjusted EBITDA fell 2.2 percent to EUR 326.0 million, due mainly to regulatory price cuts in Romania and Albania. Net profit declined 27.6 percent to EUR 40.4 million. OTE generated positive free cash flow of EUR 53 million, versus a negative EUR 12.5 million a year earlier, despite a 32 percent increase in capex to EUR 159.8 million. The company's net debt was down 28 percent

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Categories: General
Companies: Cosmote / OTE
Countries: Greece
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