Of Foti Foteinou
It is the only subsidiary of the OTE group abroad. The reason for Telekom Rumania Mobile (TKRM), which, although in terms of revenue contributes 9.36% of the revenues of the OTE group, in terms of adjusted EBITDA contributes a small percentage (almost 2.5%).
Specifically, Telekom Rumania Mobile recorded revenues of 315 million euros last year and adjusted EBITDA after leases of 30.5 million euros, against 3.36 billion euros and 1.29 billion euros respectively of the OTE group.
Per company, Telekom Rumania Mobile presented revenues of 315 million euros last year, OTE (fixed telephony in Greece) 1.6 billion euros and COSMOTE (mobile telephony in Greece) 1.37 billion euros (the remaining 612, EUR 5 million came from other sources).
At EBITDA level, OTE last year presented profits of 848.8 million euros, COSMOTE 560.3 million euros and Telekom Rumania Mobile 47.5 million euros.
However, in terms of profit / loss for the year from continuing operations, Telekom Rumania Mobile was unprofitable by 7.5 million euros, showing the opposite course in relation to OTE (profits 563.7 million euros) and COSMOTE (profits 193, EUR 7 million).
At 3.7 million Telekom Rumania Mobile subscribers
In 2021, the total revenues of Telekom Rumania Mobile decreased by 10.0% and amounted, as mentioned above, to 315.5 million euros compared to 2020.
According to OTE, the company managed to record a strong increase of 24.5% in the adjusted EBITDA after leases, reaching 30.5 million euros, due to the cost reduction initiatives implemented throughout the year.
This resulted in the corresponding margin of adjusted EBITDA, after leases, reaching 9.7% compared to 7.0% in 2020.
At the customer level, as of December 31, 2021, the company’s customer base reached 3.7 million subscribers, up 1.2% from last year, driven by growth in contract services.
It is noted that the company now belongs 100% to the OTE group, which last year completed the sale of 54% held by the fixed telephony company Telekom Romania Communications (TKR) in Orange Romania for 295.6 million euros.
New sales scenarios of Telekom Rumania Mobile
According to Romanian media, the OTE Group is holding discussions for the sale of Telekom Rumania Mobile, for a price close to 200 million euros.
The interested parties, as mentioned, include United Group, which in Greece has acquired Nova and Wind.
United Group has a presence in Greece, Bulgaria, Serbia, Croatia and Slovakia and if it acquires Telekom Romania Mobile, it will gain access to the Romanian market.
Source: Capital
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