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OFFON

HELLENIC TELECOMMUNICATIONS ORGANIZATION S.A.

(HTO)
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OTE Group: commitment to sustainability significantly boosts business growth

09/10/2021 | 09:52am EDT
- ESG information and important financial data in the 2nd Integrated Sustainability Report
- New climate crisis targets: zero CO2 emissions from Group operations by 2025
- €2 billion investments in new-generation networks in four years
- €5.1 million social contribution with 1.6 million beneficiaries
- Sustainable Development Report accessible to the visually impaired


Important financial and non-financial data - such as ESG information about the sustainability of the OTE Group's activities in all sectors - are set out in the 2020 Integrated Report. The 16th OTE Group Sustainable Development Report documents its contribution to creating a better world for all through technology, presenting the long-term value
it generates for society, the economy and the environment.

The OTE Group's sustainable development priorities are the enhancement of its environmental and social footprint and the equal access to the digital world for all citizens. For the environment, COSMOTE has set new goals as a response to climate change: zero greenhouse gas emissions from its operations by 2025, and from the entire value chain by 2040.

With €2 billion in investments in new-generation networks in four years, and through developing advanced digital products and services, OTE Group is enhancing accessibility and growth. At the same time, OTE Group is taking initiatives to support society and vulnerable social groups, and to develop the digital skills of citizens and its employees. In 2020, the Group's social contribution reached €5.1 million, with over 1.6 million beneficiaries.
'We are living in an era, unlike any other, full of challenges for the environment and society, as well as full of opportunities because of technology's progress. To respond to the climate crisis, we have committed to a zero carbon footprint by 2025. During the pandemic, the OTE Group achieved a critical mission: assuring the continuity of our digital society. Today, we are ready to move ahead and lead our customers into the future - a future where digital technology is accessible to all and accelerates growth. A future where economy and sustainability are the two sides of the same coin,' said Michael Tsamaz, the Chairman and CEO of the OTE Group.

Sustainable development is at the core of the OTE Group's strategy and operations, governing everything from the products and services for its customers to financial performance and actions for its employees, the environment and society. Having incorporated ESG criteria for the environment, society, and corporate governance ensures the transparency, measurement and evaluation of the OTE Group. It's participation in international Sustainable Development Indices demonstrates its commitment and dedication to the principles of sustainability and the adoption of ESG criteria.

Through its actions, the OTE Group consistently contributes to the achievement of the UN Sustainable Development Goals and the Paris agreement targets for a better future.

The 2020 Integrated Sustainable Development Report was prepared in accordance with the principles of the International Council for Integrated Reporting and took into account the results of a new Materiality Analysis in which nearly 2,500 stakeholders participated. This is the 1st report accessible to people with visual impairments, as its content can facilitate these users as well.

The overall results of the sustainability of the OTE Group and its employees are available in the 2020 Integrated Report.

Sustainable Development Reports: tools for advancing sustainability

The ongoing development of the OTE Group's sustainable development reports and the maturity they have reached with the inclusion of ESG information is in parallel with the advancement of sustainable development issues. This has resulted in the sustainable development report's being used as a tool for improving the OTE Group's performance on environmental, social and corporate governance issues.

'From the outset, we realised the importance of a properly structured report based on international practices, standards and sustainability tools, not only as a source of information for the stakeholders, but also as an extensive roadmap that makes a decisive contribution to the enhancement of the company's sustainable development strategy. A very important initiative was the creation of an internal team of over 50 people to collect information for the reports. This was the first agile working group that helped all units understand sustainable development. This type of organization brought us to the good level we are today,' said Deppie Tzimea, the Executive Director for Corporate Communications and Sustainability OTE Group.

The superiority of the OTE Group's reports is also confirmed by the award recently received by OTE Group's Integrated Report 2019 at the Corporate Register CR Reporting Awards (CRRAs). These are the only independent international awards for Corporate Responsibility Reports, with the OTE Group report winning 1st place in the Creativity in Communications category and 2nd in the Best Integrated Report category.

Disclaimer

OTE - Hellenic Telecommunications Organization SA published this content on 09 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 September 2021 13:51:02 UTC.


© Publicnow 2021
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Sales 2021 3 343 M 3 893 M 3 893 M
Net income 2021 456 M 531 M 531 M
Net Debt 2021 655 M 762 M 762 M
P/E ratio 2021 16,2x
Yield 2021 5,20%
Capitalization 6 917 M 8 046 M 8 053 M
EV / Sales 2021 2,26x
EV / Sales 2022 2,20x
Nbr of Employees 15 355
Free-Float 48,4%
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Number of Analysts 13
Last Close Price 15,35 €
Average target price 17,42 €
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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