Cosmote Romania in the black in Q2, 2008

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Cosmote Romania, local division of Greek mobile telephony operator Cosmote, reported over April-June 2008 Operating Income Before Depreciation and Amortization (OIBDA) worth 5 million euros (compared to losses worthy 8 million euros in Q2 last year) this being the first quarter in which the operator reports profit, according to information supplied by OTE group.
 
Cosmote's revenues grew 75.4% in Q2 up to 63.6 million euros from 36.2 million euros in the same period one year ago. Over April-June 2008, Cosmote Romania drew 404,382 new customers, reaching 4.642 million users of which 17% are users of post-paid services.
 
In Q1, 2008 Cosmote Romania reported a rise of 83.6% in revenues, up to 116.8 million euros and a decrease of 85.5% of the operating incomes before depreciation and amortization which went down from 18.6 million euros in H1 2007 to 2.7 million euros in H1, 2008.
 
In line with the estimates of the managerial team, Cosmote Romania will have to fulfill the objective of ending 2008 with a positive result as regards the operating income before depreciation and amortization (OIBDA).
Hellenic Communications Organisation SA, OTE Group holds 54.01% stake in Romtelecom.
 
Its division of mobile telephony Cosmote is present on the Romanian market through Cosmote Romania, a company held by OTE group, through RomTelecm (30-percent o stake) and Cosmote Greece (70-percent). At present, OTE has 17.4 customers for its services of mobile telephony in Greece, Romania, Albania and Macedonia.
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