Hellenic Telecommunications Q3 profit increases

Hellenic Telecommunications Organization SA, a telecommunications provider, has reported that profit attributable to owners of the parent for the third quarter ended September 30, 2012 was E109 million, or E0.22 per basic share, compared to E104.4 million, or E0.21 per basic share, for the same quarter ended September 30, 2011.

Total revenues for the third quarter ended September 30, 2012 were E1.18 billion, compared to E1.31 billion for the same quarter ended September 30, 2011.

Profit attributable to owners of the parent for the nine months ended September 30, 2012 was E520.1 million, or E1.06 per basic share, compared to E196.8 million, or E0.4 per basic share, for the same period ended September 30, 2011.

Total revenues for the nine months ended September 30, 2012 were E3.55 billion, compared to E3.79 billion for the same period ended September 30, 2011.

Michael Tsamaz, chairman & CEO, noted, "We are pleased to report another set of solid quarterly results as we continue to face severe economic contraction in Greece. While revenues were impacted by the economy, along with sharply lower mobile termination rates in most of the countries we operate, our unrelenting focus on cost reduction led to an increase in pro forma EDITDA margin, at 36.5%. Net income was also up."