Hellenic Telecommunications Organization S.A. (HLTOY) Q3 2024 Earnings Call Transcript

Hellenic Telecommunications Organization S.A. (OTCPK:HLTOY) Q3 2024 Earnings Conference Call November 14, 2024 6:00 AM ET

Company Participants

Kostas Nebis – CEO
Babis Mazarakis – CFO

Conference Call Participants

Patrick Maurice – Barclays
John Karidis – Deutsche Numis
Vasilis Kollias – Pantelakis Securities
Ajay Soni – JPMorgan
Stamatios Draziotis – Eurobank Equities

Operator

Ladies and gentlemen, thank you for standing by. I am Mina, your Chorus Call operator. Welcome and thank you for joining the OTE Conference Call and Live Webcast to Present the Third Quarter and Nine Months 2024 Financial Results. All participants will be in a listen-only mode and the conference is being recorded. A presentation will be followed by a question-and-answer session. [Operator Instructions]

At this time, I would like to turn the conference over to Mr. Kosta Nebis, CEO, OTE Group; Mr. Babis Mazarakis, Chief Financial Officer; Mr. Panayiotis Gabrielides, Chief Marketing Officer, Consumer Segment, OTE Group; and Mr. Evrikos Sarsentis, Head of IR and M&A.

Mr. Nebis, you may now proceed.

Kostas Nebis

Thank you, Mina. So, greetings to all of you and welcome to our results call for the third quarter of 2024.

Starting with Greece, we reported this morning a solid quarter of operations pretty much across the board, with revenues up in the most relevant activities and higher EBITDA, all achieved without benefit from the various initiation revenue drivers we discussed during our last call.

The sports content-sharing agreement we signed with NOVA is boosting total subscriptions for the whole industry. We registered a sharp rise in subscriber numbers in the third quarter with record net additions in September.

And as we move into 2025, this will start contributing to our growth. We also expect stricter government measures against piracy to be adopted by the end of the year, facilitating a transition to legitimate TV