Athens, April 14, 2004 – Optimistic 2003 financial results for OTEGlobe More specifically, the consolidated operating revenues amounted to €53,7 million for the year 2003 showing an increase of 8% in comparison to those of 2002 despite the decreasing service price rates due to increased competition. The EBIT (pre-tax profits) soared to €6,6 million for the year 2003 (€1,1 million in 2002), recording a tremendous increase of 482% over last year’s comparable period due to the flexible commercial policy followed, as well as the significant cost reduction that occurred.
The remarkable growth of Capital & Reserves by 235% and the basic earnings per share by 406% underline the significant surplus value of the company for the OTE Group.
Commenting on the financial results, Mr. Anastasios Angeloglou, OTEGlobe CEO, noted among others: “The results of our company for the 2003 fiscal year reflect its positive course, as well as its dynamism in a very competitive environment including globally known telecommunication companies, such as: Telecom Italia, Cable & Wireless, Deutsche Telekom, France Telecom, Belgacom etc. These factors constitute solid foundations for its further growth and for the realization of its objective to become the dominant Carrier of the SE Europe and the Middle East.”