HELLENIC TELECOM ORG-SP ADR Business Summary

HELLENIC TELECOM ORG-SP ADR (HLTOY), representing the Hellenic Telecommunications Organization (OTE), operates as the dominant integrated telecommunications provider in Greece, primarily generating revenue through recurring subscription fees for fixed-line, mobile, broadband, and pay-TV services. The company’s business is structured around its core Greek operations—marketed under the COSMOTE brand—and a robust ICT and system solutions segment that services large-scale digital transformation projects for the public and private sectors. As of mid-2026, OTE is leveraging its extensive Fiber-to-the-Home (FTTH) network and 5G Standalone infrastructure to maintain its market-leading position, while diversifying into digital verticals such as fintech and food delivery. Within the Greek telecommunications landscape, OTE remains the premier incumbent, consistently outperforming its primary rivals, Vodafone Greece and Nova (United Group), and effectively competing against the Public Power Corporation (PPC) as the latter enters the wholesale fiber market. The leadership team is headed by Chairman and CEO Kostas Nebis, who took the helm in July 2024 following a successful tenure as CEO of Hrvatski Telekom and a prior career as OTE’s Chief Commercial Officer. He is supported by Chief Financial Officer Charalampos (Babis) Mazarakis, a seasoned executive with a background at the National Bank of Greece and Vodafone, who has been instrumental in OTE’s financial turnaround and its 2026 credit upgrade to A- by S&P Global. Originally established in 1949 as a state-owned monopoly, the company is now a key strategic asset of Deutsche Telekom, which holds a controlling stake of approximately 53%. The executive board, which includes Chief Information Technology Officer Yannis Vitzilaios and Chief People Officer Panos Tsiantoulas, operates under the strategic oversight of Deutsche Telekom, ensuring the group remains at the forefront of European technological standards and operational efficiency.