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OFFON

HELLENIC TELECOMMUNICATIONS ORGANIZATION S.A.

(HTO)
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Corporate Presentation – 3rd Quarter 2021

11/12/2021 | 04:07am EST

OTE

Hellenic Telecommunications Organization

Q3 2021 Results

November 2021

Disclaimer

This presentation is provided to persons who are entitled to receive it in accordance with the laws and regulations of appropriate jurisdictions. This presentation is provided for information purposes only and does not constitute an offer or an invitation to buy or sell or subscribe to any securities or a solicitation of an offer to buy or sell or subscribe for any security or instrument or to participate in any trading strategy. No part of this presentation may be construed as constituting investment advice or recommendation to enter into any transaction or as providing the basis for any credit or other evaluation. No representation or warranty is given with respect to the accuracy or completeness of the information, estimations, provisions, future expectations or other data, contained in this presentation, and no claim can be made that any transaction of any security will conform to any terms that may be contained herein. Under no circumstance, should OTE, or any of its directors, officers or employees be held liable for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on any information contained in this presentation. Information contained herein may change without notice and OTE undertakes no obligation to update it.

Before entering into any transaction, investors should determine any economic, trading and financial risks, restrictions and benefits, as well as any legal, tax, accounting consequences of doing so, and their ability to assume such risks, without reliance on the information contained in this presentation. You should consult a professional financial advisor before entering in any transactions in securities mentioned herein.

In addition to figures prepared in accordance with IFRS, OTE also presents alternative performance measures, including, among others, EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, free cash flow, adjusted free cash flow, net debt, adjusted net debt, Capex and adjusted Capex. These alternative performance measures should be considered in addition to, but not as a substitute for, the information prepared in accordance with IFRS. Alternative performance measures are not subject to IFRS or any other generally accepted accounting principles. The purpose and calculations of all 'Adjusted' data and the Alternative Performance Measures presented are detailed in the Alternative Performance Measures Section in the Quarterly Press Releases.

All figures (apart from Balance Sheet) adjusted to reflect only continuing operations; Telekom Romania (TKR) operations along with certain significant commercial transactions (MVNO agreement and handset sales) between TKR and Telekom Romania Mobile (TKRM) have been treated as discontinued operations.

https://www.cosmote.gr/fixed/en/corporate/ir/financial-results/financial-statements-of-ote-group-and-ote-sa

OTE | Q3 2021 RESULTS 2

Key Developments

  • Customer Service
  • Shops
  • Technical Field Operations

into 100% subsidiaries was completed

1st in Greece to launch 5G services following auction in late 2020

  • 700 MHz
  • 2 GHz
  • 3400-3800MHz
  • 26 GHz

Target >60% population coverage by the end of 2021

2021 to 2024:

Demand for high-

>1,300 people

Champions

speed connections

Adopted the

continues to

League

voluntary exit

expand

schemes

Europa League

479k homes as

implemented in

Italian football

of Q3'21

2020

Lega Serie A

>560k by end

8 out of 14 Greek

of 2021

SuperLeague football teams

Completion of the sale of OTE's 54% stake in Telekom

Extraordinary distribution to OTE shareholders,

Romania (TKR) to Orange Romania; €296.5mn

following the sale of TKR; €174mn

OTE | Q3 2021 RESULTS 3

Q3 Highlights

+1.8%

Further growth in Greece

Revenues

+3.2%

Strong margin at 40.9%

Adj. EBITDA (AL)

€116mn €108mn

Free Cash Flow up +18% year on

Adj. FCF

FCF

year

€480mn

€480mn shareholder remuneration

Shareholders Remuneration

for FY 2021 confirmed

€0.68/share

TKR Disposal

Successful completion of Telekom

Romania (Fixed) disposal

€174mn extraordinary distribution

Positive momentum continues

Revenues: +3.5%

+1.8% increase in Fixed retail, driven by strong broadband growth

+8.2% increase in mobile service revenues, roaming recovery

Increasing demand for faster broadband speeds FTTH rollout continues

Adj. EBITDA (AL): +5.0%

yielding a strong margin of 43.3%

Revenues: €80.8mn

Revenues were down 10.8%, impacted by one-off comparable adjustments

Adj. EBITDA (AL): €10.5mn

Improved underlying profitability

Yielding a margin of 13.0%

OTE | Q3 2021 RESULTS 4

Financial Review

Disclaimer

OTE - Hellenic Telecommunications Organization SA published this content on 12 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 November 2021 09:06:04 UTC.


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Financials
Sales 2021 3 332 M 3 805 M 3 805 M
Net income 2021 507 M 579 M 579 M
Net Debt 2021 641 M 732 M 732 M
P/E ratio 2021 15,8x
Yield 2021 4,55%
Capitalization 7 630 M 8 715 M 8 714 M
EV / Sales 2021 2,48x
EV / Sales 2022 2,42x
Nbr of Employees 16 291
Free-Float -
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Hellenic Telecommunications Organization S.A. Technical Analysis Chart | HTO | GRS260333000 | MarketScreener
Technical analysis trends HELLENIC TELECOMMUNICATIONS ORGANIZATION S.A.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 17,11 €
Average target price 18,13 €
Spread / Average Target 5,95%
EPS Revisions
Managers and Directors
Michael Kosma Tsamaz Chairman & Chief Executive Officer
Charalampos Georgiou Mazarakis Chief Financial Officer & Executive Director
Georgios Athanasopoulos Group Chief Information Technology Officer
Stefanos Theocharopoulos Chief Operations & Technology Officer
Aristodimos Dimitriadis Executive Director-Compliance