High performance was recorded by OTEGLOBE, according to its 2018 financial results.
The company’s revenues remained high in 2018, reaching €347 mn and recording an increase of 4% from 2017. The impact of the price decrease in international wholesale on OTEGLOBE’s revenues was counterbalanced by the revenue increase in international capacity services, which was a result of the company’s previous years’ investments and the maintenance of high revenues in international voice services. Since 2007, OTEGLOBE has increased its revenue by 110% (from €165,1 mn to €347 mn) where 80% of 2018 revenues comes from international customers.
In 2018 OTEGLOBE’s adjusted EBITDA remained high, reaching 18,5 mn, same level as in 2017, as a result of the Company’s technological advance and continuous investments. A significant increase was also recorded in OTEGLOBE’s cash flows from operating activities, to 36,1 mn in 2018 from 16.8 mn in 2017.
During 2018 OTEGLOBE signed one more significant agreement with a major Asian mobile operator for the AAE-1 Cable system of which OTEGLOBE is a member and landing party. The AAE-1 cable System, spanning approximately 25,000 km is one of the first unique cable systems connecting Hong Kong, Singapore, Middle East, Africa and Europe, providing an alternative low latency route between the Far East and Europe.
Moreover, OTEGLOBE continues to invest in New Generation Networks (full mesh network topology) which are based on more than 21000 km fiber optics and interconnect major European hubs through more than 4 geographically diverse routes.
By capitalizing on Greece’s geographic advantage, OTEGLOBE has already implemented its expanding strategy in the new markets of M. East and N. Africa, through investments and partnerships with major carriers.