A recovery in Greek tourism boosted third-quarter core profit for OTE Telecom, Greece’s biggest telecoms operator said on Friday.
The lifting of COVID-19 travel restrictions drove a sharp rise in visitors to Greece over the summer after a dismal 2020, helping OTE Telecom’s roaming revenue to reach 90% of the level reached in the same period of pre-pandemic 2019.
Growing demand for higher data speeds and volume in both mobile and fixed telephony also helped the group.
OTE Telecom, 46% owned and managed by Deutsche Telecom , said earnings before interest, tax, depreciation and amortisation (EBITDA) reached 352.5 million euros ($403.9 million) in the quarter, up from 341.6 million euros in the same period last year.
The company has been investing heavily in fast broadband services in recent years. It launched 5G services last year and plans for the new technology to be available to 60% of the country’s 11 million population by the end of the year.