Hellenic Telecom Organization SA (OTES) Q3 2026 Earnings Report
DE:OTES Q3 2026 EPS Results
- Actual EPS
- EUR 0.23
- Consensus EPS
- EUR 0.22
- Beat/Miss
- Beat by +EUR 0.01
- One Year Ago EPS
- EUR 0.22
DE:OTES Q3 2026 Revenue Results
- Actual Revenue
- ―
- Expected Revenue
- EUR 866.62M
- Beat/Miss
- ―
- YoY Revenue Growth
- ―
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/30/2026
- Time
- Before Open
- Conference Call
- Friday, October 30, 2026
DE:OTES Upcoming Earnings
Hellenic Telecom Organization SA's next earnings date is estimated for February 25, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
DE:OTES Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was predominantly positive. OTE reported broad-based revenue, EBITDA, margin and free cash flow growth; strong FTTH, fixed wireless access, Pay-TV, mobile and wholesale FTTH momentum; continued network and AI investment; and confidence in meeting its 2026 targets and sustaining growth in 2027. The main challenges were heightened fixed-market competition, pricing and ARPU pressure, moderating mobile growth, the planned wholesale revenue roll-off, higher energy costs, the completion of the RRF cycle and uncertainty around the spectrum auction. Management presented these issues as being actively managed and reiterated its financial guidance.
Company Guidance
Management maintained its CapEx guidance at a bit over EUR 600 million, reiterated reported free cash flow guidance of approximately EUR 750 million and underlying free cash flow of EUR 570 million to EUR 580 million, and expects solid double-digit growth for System Solutions for the full year; it also expects a total of approximately EUR 15 million drop in domestic wholesale revenues, FTTH coverage of more than 3.1 million homes passed by year-end and an ambition of more than 4.6 million by 2030, while maintaining full year EBITDA growth guidance of 3%. Pay-TV momentum is expected to continue, though at a more moderate pace, and management said the intention is to stay within this kind of growth levels moving into 2027, with activity running more or less along the same levels of this year moving into 2027, both in terms of top line, but also in terms of margin.
- Strong Year-to-Date Performance and 2026 ConfidenceManagement said the first nine months reinforce its confidence in delivering the 2026 growth ambition. Third-quarter EBITDA growth accelerated further, while underlying revenue growth remained strong, supported by resilient operations and key growth areas.
- Revenue Growth Across Key BusinessesTotal revenues, adjusted for the anticipated phaseout of certain international wholesale activities with near-zero margin impact, increased 5% year-on-year in the third quarter and 8.4% in the first nine months. Growth was mainly driven by System Solutions, Data Communications, FTTH, TV and mobile.
- Stable Broadband Base and Fixed-Service MomentumThe broadband base remained broadly stable year-on-year despite an increasingly competitive market. Positive momentum continued across FTTH, fixed wireless access and Pay-TV, while fixed retail service revenues including Data Communications increased 2.9% year-on-year, supported by FTTH customer take-up, TV and fixed wireless access.
- FTTH Customer and Network ExpansionFTTH added 52,000 customers during the quarter, bringing the customer base to 739,000, or 31% of the broadband base versus 21% a year earlier. Network utilization reached 44% based on commercially available active lines and 32% under the broader homes-passed definition. OTE reached 3 million homes passed, remains on track for more than 3.1 million by year-end and has an ambition of more than 4.6 million by 2030.
- Strong Fixed Wireless Access GrowthFixed wireless access recorded 15,000 net additions, bringing the subscriber base to 134,000, more than double the 62,000 recorded a year earlier. Management attributed the momentum to its advanced 5G Wi-Fi proposition and expanding 5G+ network, which extend high-speed broadband to underserved areas.
- Pay-TV Growth and Customer MilestonePay-TV revenue grew 9% year-on-year, described as a high single-digit rate, with 9,000 subscribers added during the quarter. The customer base exceeded 800,000 and increased 6% year-on-year. OTE secured most key content for the season and expanded international partnerships by adding Disney alongside Netflix.
- Continued Mobile Customer and Data GrowthMobile service revenue increased 2% year-on-year. Postpaid net additions reached 49,000, while year-on-year subscriber growth remained elevated at 7.5%. Mobile data usage increased 18% year-on-year to 24 gigabytes per user per month, and unlimited plans reached 37% of the B2C base versus 33% a year earlier.
- Mobile Network Leadership5G population coverage exceeded 99%, while 5G+ coverage reached approximately 85%. Management said the network's quality, reach and performance, as recognized by independent industry benchmarks, remain key competitive advantages.
- System Solutions Growth and Diversified Opportunity PipelineSystem Solutions delivered another solid quarter, and management maintained its commitment to solid double-digit growth for the full year. OTE is expanding cooperation with EU organizations and pursuing opportunities in cloud, security and AI across the public and private sectors, as well as through European institutions including the European Investment Bank, European Parliament and NATO.
- Post-RRF Strategy for 2027Management said the end of the Recovery and Resilience Facility cycle does not mean the public sector is fully digitized, leaving additional project opportunities. OTE is also increasing its focus on private-sector cloud, security and AI projects and expanding its European presence, with the goal of running at broadly similar top-line and margin levels in 2027.
- AI and Digital Transformation InitiativesOTE is embedding data and AI across sales and customer interactions, intelligent network management, IT productivity, customer support, software development and new products. Initiatives include AI-enabled B2B solutions, a planned AI calling service, AI-driven customer interfaces, conversational tools and intelligent agents. Management said AI capabilities have already been deployed extensively in customer care, where tangible benefits are being seen.
- EBITDA Growth and Margin ExpansionAdjusted EBITDA after leases increased 3.1% year-on-year, while the margin expanded by 90 basis points to 42.1%. Sustained service revenue growth, cost discipline, lower personnel expenses and efficiencies in other direct costs helped offset higher energy costs. Indirect costs declined to 28% of service revenues from 30% a year earlier.
- Digital Adoption ProgressE-sales, digital payments and e-top-ups accounted for 37%, 44% and 53% of total activity, respectively. Management said these improvements and the operating performance support confidence in achieving full-year EBITDA growth guidance of 3%.
- Strong Free Cash Flow GenerationFree cash flow after leases increased 27.7% year-on-year to EUR 137.4 million in the quarter, supported by lower income tax payments, higher EBITDA and improved working capital. OTE reiterated reported full-year free cash flow guidance of approximately EUR 750 million and underlying free cash flow guidance of EUR 570 million to EUR 580 million.
- Continued Network Investment Within CapEx GuidanceCapEx was EUR 176.4 million in the quarter, up 17.8% year-on-year, primarily reflecting TV payments. First-nine-month CapEx increased only 1% year-on-year, and full-year guidance remains at a bit over EUR 600 million. Investments are focused on expanding FTTH and accelerating the 5G standalone network rollout.
- Strong Wholesale FTTH DemandWholesale FTTH added 43,000 customers in the quarter and 138,000 in the first nine months, already exceeding the full-year 2025 level. Management said continued take-up is supporting higher utilization of the fiber infrastructure.
- Balance Sheet and RefinancingOTE issued a EUR 350 million bond to partially refinance the EUR 500 million bond that matured in September. Management said the company's credit rating and strong balance sheet limited the spread despite the prevailing pricing environment.
- Confidence in Sustaining EBITDA GrowthManagement said its intention is to remain within the current growth levels in 2027 and expressed confidence that the business has the capabilities to continue growing at the level achieved in 2026.
DE:OTES Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 25, 2027 | 2026 (Q4) | ―- | 0.34 | ― | ― |
| Oct 30, 2026 | 2026 (Q3) | 0.220.23 | 0.22 | 5.67% (+0.01) | |
| Jul 29, 2026 | 2026 (Q2) | 0.210.20 | 0.17 | 20.43% (+0.03) | |
| May 08, 2026 | 2026 (Q1) | 0.200.20 | 0.2 | 4.09% (+0.01) | |
| Feb 26, 2026 | 2025 (Q4) | 0.110.34 | -0.55 | 161.34% (+0.88) | |
| Feb 19, 2026 | 2026 (Q4) | 0.30- | 0.34 | ― | |
| Nov 13, 2025 | 2025 (Q3) | 0.200.22 | 0.19 | 18.18% (+0.03) | |
| Aug 06, 2025 | 2025 (Q2) | 0.160.17 | 0.16 | 1.09% (+0.00) | |
| May 14, 2025 | 2025 (Q1) | 0.180.20 | 0.17 | 18.92% (+0.03) | |
| Feb 26, 2025 | 2024 (Q4) | 0.16-0.55 | 0.16 | -434.97% (-0.71) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed