The message that in Greece networks were, are, and will always be synonymous with OTE, which today operates the largest fiber optic network in the country, was delivered from the podium of the 74th regular general assembly by Kostas Nempis, head of the OTE Group. At the same time, he reiterated that the ultimate goal is for OTE to emerge as Europe’s leading digital telecommunications provider, while announcing that the brand rebranding from Cosmote Telekom to Telekom will be completed by the end of the year.
On the sidelines of the General Assembly, Mr. Nempis referred to the AI Calling service, which is being developed by TELEKOM in collaboration with ElevenLabs. AI Calling leverages Artificial Intelligence to develop new innovative voice services over mobile networks, such as: 1) Live Translation during calls without application support for users speaking different languages 2) Call Summary, the ability to send call content summaries to users 3) Call Assistance, the ability for in-call questions to an AI Assistant for information provision. It is estimated that Greece will be among the first countries where AI Calling will be available, in late 2026 – early 2027.
Nempis: In Greece networks were, are and will always be synonymous with OTE
Here are the details of what Mr. Nempis mentioned in his speech:
“Before proceeding with the presentation of the Agenda items, I would like to review the past year: Taking stock of a significant year for OTE, I would first like to thank you for your trust and support. They give us strength to meet our commitments, implement our vision and create sustainable value.
In 2025, we successfully completed the rationalization of our portfolio with the divestment from our activities in Romania. This move allows OTE to focus on domestic development and continue creating further value for its shareholders, as our activity there was significantly loss-making. This milestone contributed to the significant strengthening of annual cash flows and allowed us to return extraordinary compensation to our shareholders in 2025. At the same time, it laid the foundation for further strengthening our financial performance in 2026. This year we presented our new shareholder compensation policy, aiming to enhance transparency and flexibility. In this context, we propose a 22% increase in dividends and a 16% increase in the share buyback program. Total shareholder compensation approaches 100% of Free Cash Flows, confirming our steady commitment to value creation, totaling 532 million euros. This translates to a total return of approximately 7-8%. Taking into account the treasury shares held by the company, the dividend per share to be distributed in the coming days will exceed 0.9 euros, while our share price has increased approximately 8% since the beginning of the year.
In 2025, we recorded strong financial and operational performance, resulting from the successful implementation of our strategy and the collective effort of our people. We recorded revenue growth of 4%, while EBITDA strengthened by 2%. This year we aim even higher, at 3%, based on the positive momentum of our core activities, both fixed and mobile. These achievements result from our infrastructure investments, our leadership position in networks, continuous optimization of our operations, steady commitment to providing top-tier customer experience, and our ability to offer an integrated portfolio of products and services that meets our customers’ diverse needs.
In the retail fixed sector, we stabilized our metrics after four years, achieving a substantial trend reversal. The continuous expansion of the Fiber-to-the-Home (FTTH) network, which now covers more than 2.1 million households and businesses, played a decisive role in this development. We also recorded record net new connections and increased utilization of our fiber optic infrastructure, factors of crucial importance for maximizing the value of our investments. At the same time, the new regulatory framework stop-selling FTTC in buildings already connected to FTTH further accelerated the transition to fiber optic networks.
In Greece, networks were, are and will always be synonymous with OTE. Because if there is one company that knows how to develop modern network infrastructures for the benefit of customers, society and the country, it is OTE. Today, OTE operates the largest FTTH network in Greece, while the strategic acquisition of TERNA FIBER within the UFBB project framework allows us to extend FTTH coverage to approximately 3.5 million households and businesses by 2030, aiming to cover over 70% of the country’s lines. Broadband services performance showed significant improvement, supported by the commercial launch of Fixed Wireless Access (FWA) service, which operates complementarily to the fiber optic network, covering needs for high-speed connectivity in areas where fiber optics have not yet reached. Additionally, television services recorded strong double-digit growth as a result of strategic sports content partnerships and enhanced anti-piracy measures, while this year’s abolition of the special tax further supports this positive momentum.
The mobile sector continued to record strong performance, strengthening OTE’s leadership position in the market. The migration of prepaid customers to contract services, combined with increasing adoption of unlimited data packages and 5G devices, continues to bear fruit. It’s worth noting that our mobile network, with its undisputed quality, excellent coverage and top performance, ranks the country high on the European digital map, while ensuring top-tier customer experience. COSMOTE 5G population coverage today exceeds 99%, while the 5G+ (5G Stand-Alone) network covers 82%. We are proud that OTE is the first provider in Greece and among the first in Europe to commercially deploy a 5G Stand-Alone network. OTE’s network was recognized for the ninth consecutive year as “Greece’s fastest mobile network” by Ookla® and as “Best in Test” for the eleventh consecutive year by umlaut. These distinctions confirm our steady commitment to providing top-tier customer experience.
In the B2B sector, OTE continued to play a decisive role in promoting digitization of both private and public sectors, with the ICT sector recording strong double-digit growth for another year and expanding further through undertaking and implementing international projects for European organizations. This development further strengthens our leadership position in implementing digital transformation solutions that shape the digital future of Greece and beyond.
At the same time, during the past year we made significant progress in developing non-telecommunications services, the so-called ‘non-core’ services. The Box online food ordering service, which numbers 16,000 partner stores, exceeded 1 million users. The payzy application in digital transactions has more than 450,000 users, while our insurance platform continues to gain ground, with total users reaching 126,000 by year-end. Beyond their positive autonomous trajectory, these services constitute decisive tools for further strengthening our rich service portfolio and OTE’s market differentiation from competitors.
In 2025, we made further progress in our transformation, emphasizing optimal resource utilization, as reflected in the reduction of indirect costs relative to service revenues. At the same time, we integrate artificial intelligence into specific functions, aiming to enhance efficiency and automate processes, further strengthening our commitment to continuous cost optimization.
In 2025, we united COSMOTE’s forces with TELEKOM, the world’s leading telecommunications brand. This year we will take a step further, evolving our brand from COSMOTE TELEKOM to TELEKOM. The transition to the TELEKOM brand represents a natural evolution, repositioning our brand as an international superbrand. Our goal is to further enhance our differentiation and superiority, leveraging the dynamics of the #1 global telecommunications brand and one of the world’s top brands regardless of sector, while simultaneously establishing our position as a member of a strong, global Group with significant economies of scale.
In closing, I would like to refer to a recent positive development that confirms OTE’s strong position and prospects. S&P Global Ratings upgraded OTE’s credit rating to “A-” from “BBB+”, making us the only company in Greece with an A-category rating. According to S&P, the upgrade reflects the recent upgrade of our parent company TELEKOM, OTE’s strong financial position, and the improvement in fundamental metrics of the Greek economy, confirming the country’s momentum and positive prospects.
Looking ahead, we remain committed to our goals of accelerating our growth rate, leading the country’s digital transformation by leveraging artificial intelligence, and remaining the leader in Gigabit networks. Our ultimate goal is to emerge as Europe’s leading digital telecommunications provider. Through continuous investments in top-quality networks and innovative services, and with the momentum of a global brand synonymous with innovation, we are confident we will meet our customers’ evolving needs, create lasting value for all stakeholders, our partners and local communities, and contribute to Greece’s rise to top digitization positions in Europe”.
