Theocharopoulos told a news conference that Romtelecom has a strong growth potential. He added his objective is to stabilize the company’s revenues and operating profit and continue investments in Romtelecom’s infrastructure.
The Greek group’s investments in its subsidiaries in Romania hit EUR3 billion, said Theocharopoulos, who took on the Romtelecom general manager position in July, after Yorgos Ioannidis’ four-year mandate terminated.
Theocharopoulos is also the general manager of telecom operator Cosmote Romania since January 2008.
Romtelecom is Romania’s top hard-line telephony operator and is 54.01% owned by OTE and 45.99% by the Communications Ministry.
In the first half of 2011, Romtelecom’s revenues decreased by 9% to EUR332.4 million, and EBITDA dropped 38.6% to EUR51.4 million. The EBITDA margin fell to 15.5%, from 22.9% in the same interval in 2010. The company’s EBIT loss stood at EUR28.7 million in the first half of 2011, from EUR38.2 million in the first half of 2010.
Last year, the operator’s EBIT loss stood at EUR292.1 million. The company’s revenues dropped 8.4% in 2010 to EUR716.9 million.
Romtelecom’s main competitors locally are RCS&RDS and UPC Romania.
On Monday, Romtelecom launched a new integrated service offer for subscribers, which can lower their bills by up to 33%. Rather than buy communications and TV services separately, subscribers may opt for integrated services which allow them to choose the set of services they want, said Ovidiu Ghiman, Romtelecom executive strategy manager.
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