OTE

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Hellenic Telecommunications Organisation S.A.
Οργανισμός Τηλεπικοινωνιών Ελλάδος Α.Ε.
Organismós Tilepikoinonión Elládos Α.Ε.
Company type Public Subsidiary
Athex:  HTO
LSE:  OTES
IndustryTelecommunications
PredecessorA.E.T.E.
Founded23 October 1949;75 years ago (1949-10-23)
Headquarters Kifisias Avenue 99, Marousi, Athens, Greece
Area served
Balkans
Key people
Konstantinos Nembis (Chairman & CEO)
Products Fixedline telephony
Mobile Telephony
Broadband internet
Digital television
Fiber-optic communication
IT Services
Revenue€3.468,9 million (2023)
€715.7 million (2023)
€531.7 million (2023)
Total assets €92.6 million (2023)
Total equity €1.943,8 million (2023)
Owner Deutsche Telekom (55%)
Government of Greece (1.2%)
EFKA (6.8%)
Public float (37%) [1]
Number of employees
10,500 (2021)
Subsidiaries Germanos
OTE Plc
Telekom Romania Mobile
Website www.cosmote.gr/static/otegroup/en/corp_homepage

Hellenic Telecommunications Organisation S.A. (OTE Group) is the largest technology company in Greece. It is one of the three largest companies listed in the Athens Stock Exchange, according to market capitalization.

Contents

OTE Group offers fixed-line and mobile telephony, broadband services, pay television and integrated Information and Communications Technology (ICT). At the same time, the Group is involved in a range of activities, notably satellite communications, real-estate and professional training. Formerly a state-owned monopoly, OTE's privatisation started in 1996 and is now listed on the Athens and London Stock Exchanges.

Since July 2009 Deutsche Telekom is the largest shareholder of the company.

History

OTE was founded on 23 October 1949 [2] as a successor to the Hellenic Telephone Company (AETE), which was established in 1926 to consolidate all such public and private telecommunications companies. Formerly, telephony, telegraph, domestic and international connections were fragmented and under-coordinated.

Until 1998, OTE operated as a state-owned monopoly. The market was opened to competitors and OTE was gradually privatized. Along with other telecommunications market providers, OTE is regulated by the National Telecommunications and Post Commission (EETT).

In 2007, MIG Holdings acquired 20% of the company, while in March 2008, sold it to German Deutsche Telekom, which later increased its stake to 25% plus one, matching that of the state. [3]

Following the sale of a further 5% in 2009 [4] and another 10% in 2011 [5] of OTE's share capital by the Greek state to Deutsche Telekom, the state holds 10% and DT 40%. In 2018, Deutsche Telekom acquired an additional 5% of OTE as it exercised the right of first refusal to acquire 24,507,520 ordinary shares [6] as announced by HDRAF.

1949–1964

1965–1989

1990–2000

2000–2007

2008–2010

2011–2025

Shareholding structure

Starting in 1996, the Greek State gradually reduced its stake in OTE. Following an agreement between the Greek State and Deutsche Telekom, as of 5 November 2008 each party held 25% plus one share of OTE. After additional transactions, Deutsche Telekom's stake in OTE has risen to 40% while that of the Greek State amounts to 10%.

HRADF announced on 13 February 2018 the opening of a tender procedure for the acquisition of 5% by the Greek state. The competition ended on 16 March 2018, with no interested parties. On the same day, HRADF sent a letter to Deutsche Telekom with a proposal to buy back the shares for €284 million, with a 30-day deadline. Deutsche Telekom exercised its right of first refusal and the acquisition was completed in May 2018 through the Stock Exchange. Deutsche Telekom currently holds 55% of the company's shares and Government of Greece owns 1.2%.

Subsidiaries

Greece

International subsidiaries

Financial data

For 2021, the Group announced turnover of €3,368.3 million, for an increase of 3.4%. Adjusted earnings before interest, taxes, depreciation and amortization reached €1,295.9 million, with the EBITDA margin increasing to 38.5%. Adjusted free cash flow came to €590.1 million. The Group's adjusted net debt fell by 25.0%, corresponding to 0.6 times the annual adjusted EBITDA (AL). [17]

OTE GROUP200720082009201020112012201320142015201620172018201920202021
Revenues6,319.86,407.35,958.95,482.85,038.34,680.34,054.13,918.43,902.93,9083,8573.798,73,3033,2593.368,3
Adjusted EBITDA2,240.82,320.92,1681,919.41,731.81,656.91,456.31,421.61,3431,3211,3041.316,81,230.11,223.61.295,9
as % of Revenues35.5%36.2%36.4%35%34.4%35.4%35%36.3%34.4%33.8%34.2%34.7%37.2%37.5%

OTE Telecoms Museum

The Museum of Telecommunications opened up to the public in 1990. It is housed in a 1000 m2 privately owned OTE building, in the district of 25 Proteos str., 14564 New KifissiaAthens. The purpose of the Museum is the research, study and documentation of historical data pertaining to the evolution of telecommunications from ancient times to the present day. The Museum is a member of the International Committee for the Conservation of the Industrial Heritage (T.I.C.C.I.H.).

References

  1. "Shareholders Structure". www.cosmote.gr. Retrieved 5 May 2023.
  2. "OTE Group Timeline". www.cosmote.gr. Retrieved 25 November 2021.
  3. "EU Commission gives approval without any conditions to Deutsche Telekom's investment in the Greek telecommunications group OTE", Telekom.com, 10 February 2008.
  4. "Greece to sell 5 pct OTE stake to Deutsche Telekom", Reuters, 18 June 2009.
  5. "Greece sells 10 percent OTE stake to Deutsche Telekom", Reuters, 6 June 2011.
  6. "Deutsche Telekom to take another 5% stake in Greece's OTE". The Economist . 3 March 2018. Archived from the original on 31 December 2019. Retrieved 20 October 2019.
  7. "Reduced prices of up to 25% for two Double Play Plans", Newsbomb, 10 May 2012. (in Greek)
  8. "ΟΤΕ TV passes 100,000 subscribers mark", Telecompaper, 15 October 2012.
  9. "OTE VDSL, High-speed internet speeds up to 50Mbps", Techblog, 26 November 2012 (in Greek)
  10. "OTE Saving 80 million from voluntary redundancy", Ekathimerini.com, 7 July 2013
  11. Naftemporiki, "OTE: 700 million euro issue of bonds completed", 30.01.2013 (in Greek)
  12. "OTE: Agreement for the sale of Hellas Sat". FE Investegate. 8 February 2013. Archived from the original on 26 August 2022. Retrieved 20 October 2019.
  13. "OTE, Cosmote expand VDSL, LTE networks". Comms Update. 15 July 2014. Archived from the original on 1 September 2022. Retrieved 20 October 2019.
  14. "M. Tsamaz: Raising the bar for 2017 - OTE's three strategic goals", Liberal.gr, 4 September 2017 (in Greek)
  15. "Cosmote takes Telekom brand". Broadband TV News. 29 April 2025. Retrieved 15 June 2025.
  16. "Subsidiaries". www.cosmote.gr. Retrieved 12 January 2024.
  17. "OTE Group". www.cosmote.gr. Retrieved 25 November 2021.