May 9, 2019 / 7:21 AM / a month ago

OTE Q1 core profit slightly down, Romania hurts

ATHENS, May 9 (Reuters) - Greece’s biggest telecoms operator OTE on Thursday posted a slight 0.9 percent drop in first-quarter core profit as weakness in Romania more than offset growth in its home market.

The former national monopoly, which is 45 percent owned and managed by Germany’s Deutsche Telekom, reported earnings before interest, tax, depreciation and amortisation (EBITDA) of 310.6 million euros ($347.90 million) compared to 313.4 million euros in the same quarter a year earlier.

$1 = 0.8928 euros Reporting by Angeliki Koutantou

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