Prioritizing the quality of the services it provides to its customers, Greek telecoms OTE responds to high competition in the market, the president and managing director of the Group, Michalis Tsamaz said during a presentation to analysts. As a result of the competition, marketing expenses in the third quarter of the year increased to 5 million euros, he said and added: “The course of this expenditure in the following quarters will depend on the circumstances.”
He explained that the company was faced with an unprecedented situation in terms of competition and price reductions, so the commercial department designed strategic initiatives to respond to these movements.
Asked about the progress of revenues in ICT projects, he said: “Due to the elections and natural disasters that affected the public sector, there were delays in payments, however, since October the situation started to normalize.”
It is estimated that in 2024 there will be a significant increase in revenues from ICT projects as their implementation will be accelerated due to the timelines of the Recovery Fund.
OTE’s management also stated that “there has been progress in most of the group’s business sectors and we are on the right track for further growth as well as market share growth despite the increasing competition over the last quarters.”
Not only did the company manage to keep its market share, but it also strengthened its customer base, without discounting the quality of its services, something that will be noticed in the coming months.
Regarding the cost of energy, it was reported that OTE has entered into new agreements and a relative increase is expected as of 2024, which will be balanced by the continuous effort to reduce operating costs as a whole.
