Press Releases

Mar
16
2017
OTEGLOBE continues to record growth in 2016

Athens, March 16 2016 – OTEGLOBE records growth once again, according to its 2016 financial results.

OTEGLOBE’s revenues reached €340,8 mn presenting an increase of 8% compared to 2015. Since 2007, the company has increased its revenues by 106% (from €165,1 mn to €340,8 mn), by recording a year-to-year revenues’ increase. It should be noted that 80% of the 2016 total revenues come from international customers.

OTEGLOBE recorded an increase of profits before income tax by 6%, standing at €8,3 mn in 2016 from €7,8 mn in 2015, while the cash and cash equivalents remained at high levels at €95,5 mn in 2016 from €97,1 mn in 2015, despite the new investments. This is mainly a result of the company’s operational profitability and of more efficient working capital management.

EBITDA reached €16,1 mn in 2016, presenting a small decrease compared to 2015 (€17,2 mn). This is mainly due to the increasing competition and the corresponding price erosion, both in voice services (decrease in termination rates in Greece and Europe) and data services, in the markets that OTEGLOBE mainly operates (Greece and S.E. Europe). Major drawback was also the delay or postponement of business plans in the broader Middle East and Northern Africa markets, due to the uncertainty and political instability in various countries.

By capitalizing on Greece’s geographic advantage, OTEGLOBE has already implemented its expanding strategy in the new markets of M. East and N. Africa, through investments and partnerships with major carriers.

In this context, in January 2014, 19 of the world’s most prominent telecom service providers, among them OTEGLOBE, joined forces to construct the new next generation international submarine cable, one of the largest and unique high capacity cable system of the world, the Asia Africa Europe-1 (AAE-1).

The AAE-1 submarine cable spanning approximately 25,000 km, will be one of the first unique cable systems connecting Hong Kong, Singapore, Middle East, Africa and Europe, providing an alternative low latency route between Far East and Europe. Major part of this traffic, will pass through Greece and the Chania cable station.

The financial statements of OTEGLOBE for 2016 can be found at www.oteglobe.gr

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Nov
15
2016
Two awards for OTEGLOBE at the “Global Carrier Awards 2016”

OTEGLOBE won the “Best Eastern European Wholesale Carrier” and “Best Customer Testimony” awards, at the “Global Carriers Awards 2016”.

According to the Award’s Judging Panel, OTGLOBE has shown consistent year-on-year revenue growth, has invested heavily in its terrestrial and subsea cable networks and has shown itself to be a carrier of choice for those looking to partner in the S.E. Europe region. At the same time, the company received international aplomb for its work with numerous positive customer testimonials giving excellent third-party endorsements to the company’s customer service, quality of service and reliability.

Over the past 11 years, the Global Carrier Awards have become the biggest and most prestigious awards event in the wholesale telecoms calendar. This year’s event was attended by more than 380 attendees, while a record number of over 200 entries were submitted. The winners were decided by a panel of over 20 judges, which include leading analysts, industry experts and Capacity's senior editorial team.

These prestigious awards solidify OTEGLOBE’s reputation as the leading international wholesale carrier in South East Europe and one of the most respected and reliable carriers in Europe.

By adapting constantly to the dynamically changing global environment, by investing in new submarine cable consortia, continuously upgrading OTEGLOBE’s existing, diverse and resilient terrestrial network infrastructure and forming strong partnerships with major global carriers, OTEGLOBE has become the partner of choice for the biggest wholesale players in Eastern Europe/CIS region and beyond, growing a continuously increasing and loyal customer base. At the same time, by offering a completely new, alternative path for connecting Europe to Asia and the world through Greece - with the completion of the AAE-1 new subsea cable -, OTEGLOBE is emerging as a reliable hub in the Mediterranean basin.

“It is a great honor to win one, let alone two awards at the Global Carrier Awards, competing against the best of our industry. Being the Best S. Eastern European Carrier, while enjoying the trust and respect of your own partners, is a recognition that makes us feel profoundly proud,” says Mr. Dino Andreou, CEO. “A big thank you to the judging panel, OTEGLOBE’s devoted and hardworking team and finally our partners and customers who put their trust in our company and speak highly of us. We promise to keep up the hard work and meet their high expectations now and in the future.”

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Apr
18
2016
OTEGLOBE: The next-generation, international subsea cable system Asia Africa Europe-1, lands at Chania-Crete island, in Greece

OTEGLOBE announces that Asia Africa Europe -1 (AAE-1) subsea cable system has successfully landed at OTE’s international Chania landing station, in the island of Crete in Greece. All shore end works at Chania have been successfully completed and Greece is now officially connected to AAE-1 cable system.

The AAE-1 submarine cable spanning approximately 25,000 km, will be one of the first unique cable systems connecting Hong Kong, Singapore, Middle East, Africa and Europe and providing an alternative low latency route between Far East and Europe. Its completion will provide additional protection and diversity to the existing heavily congested cable systems.
AAE-1 subsea cable will be ready for service at the end of 2016.

OTEGLOBE has been a full member and landing party in AAE-1 from its initial conception back in 2012. Landing the cable in Greece marks a significant milestone for AAE-1 project, since OTE’s International landing station at Chania – Crete is the first entry point in Europe, very close to Egypt and N. Africa, from where new, unique and diverse routes towards East and West Europe are available over OTEGLOBE’s reliable, existing network footprint.

OTEGLOBE is the only carrier that reaches W. Europe through Greece with two fully owned, geographically diverse networks, the GWEN and the TBN, while operating a private IP network with presence in the main telecom hubs in Europe. Hence, by offering an alternative transit route, connecting Europe to Asia and the world through Greece, OTEGLOBE combines both a resilient subsea route with a terrestrial reliable solution and is emerging as a reliable hub in the Mediterranean basin

“By leveraging the geographic position of our country and keeping an eye on future demands, OTEGLOBE proudly participates in the new subsea Silk Road to connect East and West,” states Mr. Dino Andreou, CEO of OTEGLOBE. “With the cable successfully landing in Greece and its connection to our existing, optical backbone diverse network, we’re planning to serve a significant portion of the traffic that originates from the rapidly growing markets of the East, such as China and India, thus highlighting Greece as an alternative hub in the Mediterranean basin.”

When completed AAE-1, it will connect Hong Kong, Vietnam, Cambodia, Malaysia, Singapore, Thailand, Myanmar, India, Pakistan, Oman, UAE, Qatar, Yemen, Djibouti, Saudi Arabia, Egypt, Greece, Italy and France.

AAE-1 cable system deploys 100Gbps transmission technology, with a minimum design capacity of 40 terabits. It is a next generation subsea cable that bridges both the major Asian gateways of Hong Kong & Singapore with multiple Onward-Connectivity options in Europe featuring unique landing points in Greece, Italy & France. One of the unique features of AAE-1 is that whilst it terminates at two PoPs in Singapore, it also continues further into Asia via diverse terrestrial routes across Thailand connecting Vietnam and Hong Kong. This routing enables AAE-1 to have one of the lowest latency’s between Hong Kong, India, the Middle-East and Europe.

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Mar
10
2016
OTEGLOBE continues to record growth in 2015

OTEGLOBE records growth once again, according to its 2015 financial results.

OTEGLOBE’s revenues reached €315.7 mn presenting an increase of 10% Vs 2014. Since 2007, the company has increased its revenues by 91% (from €165,1 mn to €315,7 mn), by recording a year-to-year revenues increase. 80% of the 2015 total revenues come from international customers.

OTEGLOBE recorded the impressive 83% increase in net cash flows from operating activities, which reached €27,7 mn in 2015 from €15,2 mn in 2014. This is mainly a result of the company’s operational profitability and of more efficient working capital management. At the same time, the company’s operating costs were decreased by 18% Vs 2014.

EBITDA reached €17,2 mn in 2015, presenting a small decrease Vs 2014 (€18,4 mn). This is mainly due to the increasing competition and the corresponding price erosion, both in voice services (decrease in termination rates in Greece and Europe) and data services, in the markets that OTEGLOBE mainly operates (Greece and S.E. Europe). Major drawback was also the delay or postponement of business plans in the broader Middle East and Northern Africa markets, due to the uncertainty and political instability in various countries.

By capitalizing on Greece’s geographic advantage, OTEGLOBE has already implemented its expanding strategy in the new markets of M. East and N. Africa, through investments and partnerships with major carriers.

In this context, in January 2014, seventeen of the world’s most prominent telecom service providers, among them OTEGLOBE, have joined forces to construct the new next generation international submarine cable, one of the largest and unique high capacity cable system of the world, the Asia Africa Europe-1 (AAE-1).

The AAE-1 submarine cable spanning approximately 25,000 km, will be one of the first unique cable systems connecting Hong Kong, Singapore, Middle East, Africa and Europe and providing an alternative low latency route between Far East and Europe. Major part of this traffic, will pass through Greece and the Chania cable station.

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Mar
17
2015
OTEGLOBE continues to record growth in 2014

OTEGLOBE records growth once again, according to its 2014 financial results.

OTEGLOBE’s revenues reached €287,15 mn presenting an increase of 2% Vs 2013. Since 2007, the company has increased its revenues by 74% (from €165,1 mn to €287,15 mn), by recording a year-to-year revenues increase. 80% of the 2014 total revenues come from international customers.

At the same time, OTEGLOBE recorded the impressive 57% increase in net cash flows from operating activities, which reached €15,2 mn in 2014 from €9,6 mn in 2013. This is mainly a result of the company’s operational profitability and of more efficient working capital management.

EBITDA reached €18,4 mn in 2014, presenting a small decrease Vs 2013 (€23 mn). This is mainly due to the increasing competition and the corresponding price erosion, both in voice services (decrease in termination rates in Greece and Europe) and data services, in the markets that OTEGLOBE mainly operates (Greece and S.E. Europe). Major drawback was also the delay or postponement of business plans in the broader Middle East and Northern Africa markets, due to the uncertainty and political instability in various countries.

By capitalizing on Greece’s geographic advantage, OTEGLOBE has already implemented its expanding strategy in the new markets of M. East and N. Africa, through investments and partnerships with major carriers.

In this context, in January 2014, seventeen of the world’s most prominent telecom service providers, among them OTEGLOBE, have joined forces to construct the new next generation international submarine cable, one of the largest and unique high capacity cable system of the world, the Asia Africa Europe-1 (AAE-1).

The AAE-1 submarine cable spanning approximately 25,000 km, will be one of the first unique cable systems connecting Hong Kong, Singapore, Middle East, Africa and Europe and providing an alternative low latency route between Far East and Europe. Major part of this traffic, will pass through Greece and the Chania cable station. The target completion date for AAE-1 cable construction is 2016-2017.

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