High performance was recorded by OTEGLOBE, according to its 2017 financial results.
The company’s revenues remained high in 2017, reaching €333,5 mn and recording a slight decrease of 2% from 2016. The impact of the price decrease in international wholesale on OTEGLOBE’s revenues, was counterbalanced by the revenue increase in international capacity services, which was a result of the company’s previous years’ investments and the maintenance of high revenues in international voice services.
Since 2007, OTEGLOBE has increased its revenue by 102% (from €165,1 mn to €333,5 mn) where 80% of 2017 revenues comes from international customers.
In 2017 OTEGLOBE recorded a significant 15% increase in EBIDTA, reaching €18,5 mn from €16,1 mn in 2016, while the EBITDA margin increased to 5,5% from 4,7% in 2016.
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, the new next generation international submarine cable Asia-Africa-Europe-1 (ΑΑΕ-1) was set in full commercial operation in December 2017. AAE-1 is a consortium of 19 of the world’s most prominent telecom service providers, among which OTEGLOBE and one of the largest and unique high capacity cable system of the world. The new cable spanning approximately 25,000 km is 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 already passes through Greece and the Chania cable station, with the economic benefits of its operation to be recorded in 2017, while they are expected to increase significantly in the future.
At the same time, in 2017 OTEGLOBE redesigned and upgraded its European backbone network, with the addition of thousands kilometers of fiber in Europe. The new network includes 21.000 km privately owned fiber and runs through 15 countries, connecting to major data centers such as London, Frankfurt, Paris, Milan, Marseille, as well as the Balkans. The company actually transformed and redesigned its backbone network (two fully protected, terrestrial fiber networks TBN & GWEN, stretching from Greece to W. Europe through the Balkans and Italy accordingly) to a unified, optical multi-terabit network of mesh architecture stretching from Greece to W. Europe.