HLTOF - Hellenic Telecommunications Organization S.A. (HLTOY) Q1 2024 Earnings Call Transcript
2024-05-14 15:50:23 ET
Hellenic Telecommunications Organization S.A. (HLTOY)
Q1 2024 Earnings Conference Call
May 14, 2024 06:00 ET
Company Participants
Michael Tsamaz - Chairman and Chief Executive Officer
Babis Mazarakis - Chief Financial Officer
Panayiotis Gabrielides - Chief Marketing Officer, Consumer Segment, OTE Group
Conference Call Participants
Stamatios Draziotis - Eurobank Equities
Maurice Patrick - Barclays
Georgios Ierodiaconou - Citigroup
Osman Memisoglu - Ambrosia Capital
Presentation
Operator
Ladies and gentlemen, thank you for standing by. I am Gaily, your Chorus Call operator. Welcome and thank you for joining the OTE conference call and live webcast to present and discuss the First Quarter 2024 Financial Results. [Operator Instructions] At this time, I would like to turn the conference over to Mr. Michael Tsamaz, Chairman and CEO; Mr. Babis Mazarakis, Chief Financial Officer; Mr. Panayiotis Gabrielides, Chief Marketing Officer, Consumer Segment OTE Group; and Mr. Evrikos Sarsentis, Head of IR and M&A. Mr. Tsamaz, you may proceed.
Michael Tsamaz
Thank you, operator. Good morning to all of you. Happy to welcome you to OTE’s first quarter 2024 results call. This is my 54th consecutive quarterly call as OTE’s CEO and it’s my last one. I am honored to have held this position since November 2010 and to have had the opportunity to talk with you and with the market repeatedly over all these years.
Looking back at the past 13.5 years, I essentially see three phases in the transformation we undertook together. In the first 5 years, our priority was to fix the basics and focus on growth. We set about to change the culture and to transform mindset and processes everywhere in the organization. We invested massively in technology, networks, people and customer experience, developed or revitalized services, unified the brand, and we cleaned up our financials, cutting debt and trimming our cost structure. By 2016, in a difficult environment, we have become a modern, high-performing, integrated fixed mobile operator, focusing on growth. In the second phase, our focus has been on simplification and digitalization of all internal processes and customer touch points.
Our mobile app became the central interface with our clients. We outsourced all non-core activities. We built a lean and profitable growth model. By the end of this phase, 3 years ago or so, OTE had become an efficient, agile digital services provider, leveraging state-of-the-art networks to offer superior customer experience. We are now well into the third phase of our evolution. OTE is continuing to build its positions as a sustainable digital services provider with a positive impact on society and environment. Network superiority is a key element of our strategy, and our advanced deployment of the country’s densest fiber-to-the-home infrastructure is a testimony to our commitment, same thing with 5G mobile networks, where we operate far and away the most extensive coverage available nationwide....
Hellenic Telecommunications Organization S.A. (HLTOY) Q1 2024 Earnings Call Transcript