Board Change • May 21
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 7 non-independent directors. Independent Non-Executive Director Alexandros Athanassiou was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Declared Dividend • May 21
Dividend of €0.88 announced Shareholders will receive a dividend of €0.88. Ex-date: 1st July 2026 Payment date: 7th July 2026 Dividend yield will be 5.3%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by both earnings (49% earnings payout ratio) and cash flows (68% cash payout ratio). The dividend has increased by an average of 27% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 8.6% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Feb 27
Hellenic Telecommunications Organization S.A. announces Annual dividend, payable on July 07, 2026 Hellenic Telecommunications Organization S.A. announced Annual dividend of EUR 0.8777 per share payable on July 07, 2026, ex-date on July 01, 2026 and record date on July 02, 2026. Duyuru • Jan 27
Hellenic Telecommunications Organization S.A., Annual General Meeting, Jun 09, 2026 Hellenic Telecommunications Organization S.A., Annual General Meeting, Jun 09, 2026. Duyuru • Jan 22
Hellenic Telecommunications Organization S.A. to Report Q4, 2025 Results on Feb 26, 2026 Hellenic Telecommunications Organization S.A. announced that they will report Q4, 2025 results Pre-Market on Feb 26, 2026 Duyuru • Nov 13
Hellenic Telecommunications Organization S.A. Announces Extraordinary Dividend, Payable on December 30, 2025 Hellenic Telecommunications Organization S.A. Board of Directors on November 12, 2025 approved the distribution of an extraordinary dividend to its shareholders of a total amount of €40 million, or €0.1 gross per share. The ex-dividend date will be December 22, 2025, the record date will be December 23, 2025, and shareholders registered on that date in the records of the Dematerialised Securities System (DSS) will be entitled to receive the extraordinary dividend. The dividend payment to shareholders will commence on December 30, 2025. Duyuru • Oct 10
Hellenic Telecommunications Organization S.A. to Report Q3, 2025 Results on Nov 13, 2025 Hellenic Telecommunications Organization S.A. announced that they will report Q3, 2025 results Pre-Market on Nov 13, 2025 Duyuru • Apr 08
Hellenic Telecommunications Organization S.A. to Report Q1, 2025 Results on May 14, 2025 Hellenic Telecommunications Organization S.A. announced that they will report Q1, 2025 results Pre-Market on May 14, 2025 Duyuru • Feb 26
Hellenic Telecommunications Organization S.A. Proposes Dividend Hellenic Telecommunications Organization S.A. proposed Dividend at €0.7216 per share at €298 Million. The dividend will be paid out to shareholders following approval of the Annual General Meeting of Shareholders. It is noted that own shares owned by the Company at the ex-dividend date are not entitled to dividend. Duyuru • Jan 31
Hellenic Telecommunications Organization S.A. to Report First Half, 2025 Results on Aug 06, 2025 Hellenic Telecommunications Organization S.A. announced that they will report first half, 2025 results on Aug 06, 2025 Duyuru • Jan 23
Hellenic Telecommunications Organization S.A. to Report Q4, 2024 Results on Feb 26, 2025 Hellenic Telecommunications Organization S.A. announced that they will report Q4, 2024 results Pre-Market on Feb 26, 2025 Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: €0.37 (vs €0.35 in 3Q 2023) Third quarter 2024 results: EPS: €0.37 (up from €0.35 in 3Q 2023). Revenue: €897.2m (up 1.8% from 3Q 2023). Net income: €153.6m (up 2.4% from 3Q 2023). Profit margin: 17% (in line with 3Q 2023). Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Nov 01
Now 22% undervalued The stock has been flat over the last 90 days, currently trading at €14.95. The fair value is estimated to be €19.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 1.6% per annum. Earnings are also forecast to grow by 3.1% per annum over the same time period. Duyuru • Nov 01
Hellenic Telecommunications Organization S.A. to Report Nine Months, 2024 Results on Nov 14, 2024 Hellenic Telecommunications Organization S.A. announced that they will report nine months, 2024 results on Nov 14, 2024 Duyuru • Oct 31
Digi Romania S.A and Vodafone Romania S.A. signed a Memorandum of Understanding to acquire Telekom Romania Mobile Communications S.A. from Hellenic Telecommunications Organization S.A. (ATSE:HTO). Digi Romania S.A and Vodafone Romania S.A. signed a Memorandum of Understanding to acquire Telekom Romania Mobile Communications S.A. from Hellenic Telecommunications Organization S.A. (ATSE:HTO) on October 31, 2024. Under the terms of the Memorandum of Understanding, Vodafone may potentially acquire the company along with a substantial portion of its assets, while Digi might acquire specific assets of Telekom Romania Mobile Communications S.A.
The parties still need to finalize comprehensive due diligence. Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: €0.30 (vs €0.27 in 2Q 2023) Second quarter 2024 results: EPS: €0.30 (up from €0.27 in 2Q 2023). Revenue: €910.7m (up 6.6% from 2Q 2023). Net income: €125.9m (up 13% from 2Q 2023). Profit margin: 14% (in line with 2Q 2023). Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Duyuru • Aug 01
Hellenic Telecommunications Organization S.A. to Report First Half, 2024 Results on Aug 07, 2024 Hellenic Telecommunications Organization S.A. announced that they will report first half, 2024 results on Aug 07, 2024 Duyuru • Jun 29
Hellenic Telecommunications Organization S.A. Announces Board and Committee Changes Hellenic Telecommunications Organization S.A. at its AGM held on June 28, 2024 elected Mr. Konstantinos Nebis, Chairman and CEO,?xecutive member, Ms. Elvira Gonzalez Sevilla, non-Executive member and Ms Christina Bousoulega, non-Executive member to Board of Directors. The term of office of the above Board members expires at the Ordinary General Meeting of the year 2027. Also, following the decision of the Shareholders regarding the type and composition of the Audit Committee as well as the term of office of its members, the Board of Directors elected the members of the Audit Committee and the Committee was formed on the same day into a corporate body as follows: Mr. Eelco Blok, (Chairman - Independent non-executive member of the Board), Mr. Alexandros Athanassiou, (Member - Independent Non-executive member of the Board) and Mr. Konstantinos Gravas, (Member - Independent Non-executive member of the Board), with a term of office equal to their term of office as members of the Board of Directors. Duyuru • May 30
Digi Romania S.A. and Clever Media Network SRL completed the acquistion of Telekom Romania Mobile Communications S.A. from Hellenic Telecommunications Organization S.A. (ATSE:HTO) Digi Romania S.A. and Clever Media Network SRL signed a Memorandum of Understanding to acquire Telekom Romania Mobile Communications S.A. from Hellenic Telecommunications Organization S.A. (ATSE:HTO) on May 27, 2024. In the event the Transaction is completed, Telekom Romania Mobile will remain in the market as an independent telecommunications operator. The parties have signed a Memorandum of Understanding and are in the process to file for approval with the Romanian competent authorities. Completion of the transaction is subject to customary processes and approvals, including the completion of due diligence, regulatory approvals and the signing of the transaction documentation. Digi Romania S.A. and Clever Media Network SRL completed the acquistion of Telekom Romania Mobile Communications S.A. from Hellenic Telecommunications Organization S.A. (ATSE:HTO) on May 29, 2024. Duyuru • May 29
Digi Romania S.A. and Clever Media Network SRL signed a Memorandum of Understanding to acquire Telekom Romania Mobile Communications S.A. from Hellenic Telecommunications Organization S.A. (ATSE:HTO). Digi Romania S.A. and Clever Media Network SRL signed a Memorandum of Understanding to acquire Telekom Romania Mobile Communications S.A. from Hellenic Telecommunications Organization S.A. (ATSE:HTO) on May 27, 2024. In the event the Transaction is completed, Telekom Romania Mobile will remain in the market as an independent telecommunications operator. The parties have signed a Memorandum of Understanding and are in the process to file for approval with the Romanian competent authorities. Completion of the transaction is subject to customary processes and approvals, including the completion of due diligence, regulatory approvals and the signing of the transaction documentation. Duyuru • May 16
Hellenic Telecommunications Organization S.A. Proposes Dividend, Payable on July 10, 2024 Hellenic Telecommunications Organization S.A. proposed dividend per share stands at €0.71, up 23% compared to 2023. The dividend will be paid out to shareholders on July 10, 2024, subject To Approve the Annual General Meeting of Shareholders to be held on June 28, 2024. Reported Earnings • May 15
First quarter 2024 earnings released: EPS: €0.32 (vs €0.32 in 1Q 2023) First quarter 2024 results: EPS: €0.32. Revenue: €877.6m (up 9.2% from 1Q 2023). Net income: €134.8m (flat on 1Q 2023). Profit margin: 15% (down from 17% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 1.5% growth forecast for the Telecom industry in Germany. Duyuru • Apr 16
Hellenic Telecommunications Organization S.A. to Report Q1, 2024 Results on May 14, 2024 Hellenic Telecommunications Organization S.A. announced that they will report Q1, 2024 results Pre-Market on May 14, 2024 Reported Earnings • Feb 23
Full year 2023 earnings released Full year 2023 results: Revenue: €3.48b (flat on FY 2022). Net income: €531.7m (up 37% from FY 2022). Profit margin: 15% (up from 11% in FY 2022). Revenue is forecast to grow 1.1% p.a. on average during the next 2 years, compared to a 1.5% growth forecast for the Telecom industry in Germany. Duyuru • Feb 06
Hellenic Telecommunications Organization S.A., Annual General Meeting, Jun 28, 2024 Hellenic Telecommunications Organization S.A., Annual General Meeting, Jun 28, 2024. Duyuru • Jan 23
Hellenic Telecommunications Organization S.A. to Report Q4, 2023 Results on Feb 22, 2024 Hellenic Telecommunications Organization S.A. announced that they will report Q4, 2023 results Pre-Market on Feb 22, 2024 Buying Opportunity • Jan 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 2.4%. The fair value is estimated to be €16.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 4.0% in 2 years. Earnings is forecast to grow by 44% in the next 2 years. Buying Opportunity • Dec 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 4.0%. The fair value is estimated to be €16.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.9% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 4.2% in 2 years. Earnings is forecast to grow by 45% in the next 2 years. Duyuru • Dec 16
Hellenic Telecommunications Organization S.A. Announces Michael Tsamaz, Chief Executive Officer Decides to Leave Hellenic Telecommunications Organization S.A. announced that Michael Tsamaz, Chief Executive Officer and Chairman of the OTE Board of Directors, has decided to leave the company end of June 2024, upon the expiration of his existing contract. Michael Tsamaz is OTE's longest-serving Chairman and CEO, having assumed this position in November 2010. Placing customer experience as a top priority, he led the successful transformation of OTE into a modern, high performing technology company, with strong financial foundations. During his tenure, OTE not only became the largest investor in new generation networks and technological infrastructure in Greece, contributing decisively to the digitalization of the country, society and businesses, but also a leader in all core telco segments: Fixed, Mobile, Pay TV, and ICT. In addition, it launched start-ups in non-core sectors such as FinTech, food delivery and insurance aggregation. The vision he set for the company for 2030, is to develop into a leading sustainable digital services provider, aiming at continuous improvement of shareholders value. Duyuru • Dec 15
Hellenic Telecommunications Organization S.A. Announces Michael Tsamaz, Chairman of the Board Decides to Leave Hellenic Telecommunications Organization S.A. announced that Michael Tsamaz, Chief Executive Officer and Chairman of the OTE Board of Directors, has decided to leave the company end of June 2024, upon the expiration of his existing contract. Michael Tsamaz is OTE's longest-serving Chairman and CEO, having assumed this position in November 2010. Placing customer experience as a top priority, he led the successful transformation of OTE into a modern, high performing technology company, with strong financial foundations. During his tenure, OTE not only became the large investor in new generation networks and technological infrastructure in Greece, contributing decisively to the digitalization of the country, society and businesses, but also a leader in all core telco segments: Fixed, Mobile, Pay TV, and ICT. In addition, it launched start-ups in non-core sectors such as FinTech, food delivery and insurance aggregation. The vision he set for the company for 2030, is to develop into a leading sustainable digital services provider, aiming at continuous improvement of shareholders value. Duyuru • Nov 23
Quantum Project Group signed a Memorandum of Understanding to acquire Telekom Romania Mobile Communications S.A. from Hellenic Telecommunications Organization S.A. Quantum Projects Group signed a Memorandum of Understanding to acquire Telekom Romania Mobile Communications S.A. from Hellenic Telecommunications Organization S.A. on November 21, 2023. The transaction is subject to approval by the Romanian competent authorities. Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: €0.35 (vs €0.37 in 3Q 2022) Third quarter 2023 results: EPS: €0.35 (down from €0.37 in 3Q 2022). Revenue: €885.4m (down 2.1% from 3Q 2022). Net income: €150.0m (down 6.4% from 3Q 2022). Profit margin: 17% (in line with 3Q 2022). Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Nov 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.6%. The fair value is estimated to be €16.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 3.4% in 2 years. Earnings is forecast to grow by 44% in the next 2 years. Duyuru • Nov 01
Hellenic Telecommunications Organization S.A. to Report Nine Months, 2023 Results on Nov 09, 2023 Hellenic Telecommunications Organization S.A. announced that they will report nine months, 2023 results on Nov 09, 2023 Buying Opportunity • Oct 18
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.5%. The fair value is estimated to be €16.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 3.3% in 2 years. Earnings is forecast to grow by 44% in the next 2 years. Buying Opportunity • Sep 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be €16.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 3.3% in 2 years. Earnings is forecast to grow by 44% in the next 2 years. Buying Opportunity • Aug 14
Now 20% undervalued Over the last 90 days, the stock is up 2.7%. The fair value is estimated to be €17.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 3.3% in 2 years. Earnings is forecast to grow by 44% in the next 2 years. Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: €0.26 (vs €0.24 in 2Q 2022) Second quarter 2023 results: EPS: €0.26 (up from €0.24 in 2Q 2022). Revenue: €856.4m (up 2.0% from 2Q 2022). Net income: €111.9m (up 4.8% from 2Q 2022). Profit margin: 13% (in line with 2Q 2022). Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 01
Hellenic Telecommunications Organization S.A. to Report First Half, 2023 Results on Aug 03, 2023 Hellenic Telecommunications Organization S.A. announced that they will report first half, 2023 results on Aug 03, 2023 Duyuru • Jul 04
Hellenic Telecommunications Organization S.A. Approves Final Dividend, Payable on July 11, 2023 Hellenic Telecommunications Organization S.A. at its Ordinary General Meeting of Shareholders of June 7th, 2023 approved the distribution of dividend amounting to €0.5765 gross per share. The final dividend amount that will be paid out stands at €0.58878 gross per share, increased by the dividend corresponding to 9,041,942 own shares that will be held by the Company on July 5, 2023 (ex-dividend date). The dividend is subject to a 5% withholding tax, in accordance with the applicable tax law provisions (art. 64 of Law 4172/2013 as in effect) with the exception or differentiation of such withholding for shareholders falling under special provisions. Therefore, the net amount of dividend which will be paid to Shareholders will be €0.559341 per share. On, July 5, 2023 the Company's shares will trade ex-dividend. The payment of the dividend will be conducted on July 11, 2023. Upcoming Dividend • Jun 28
Upcoming dividend of €0.58 per share at 3.8% yield Eligible shareholders must have bought the stock before 05 July 2023. Payment date: 11 July 2023. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.0%). Reported Earnings • May 07
First quarter 2023 earnings released: EPS: €0.32 (vs €0.29 in 1Q 2022) First quarter 2023 results: EPS: €0.32 (up from €0.29 in 1Q 2022). Revenue: €803.6m (down 2.6% from 1Q 2022). Net income: €135.3m (up 4.6% from 1Q 2022). Profit margin: 17% (up from 16% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 4% per year. Reported Earnings • Feb 24
Full year 2022 earnings released Full year 2022 results: Revenue: €3.47b (up 2.9% from FY 2021). Net income: €388.6m (down 14% from FY 2021). Profit margin: 11% (down from 14% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.8% p.a. on average during the next 2 years, compared to a 2.2% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 6% per year. Duyuru • Jan 25
Hellenic Telecommunications Organization S.A., Annual General Meeting, Jun 07, 2023 Hellenic Telecommunications Organization S.A., Annual General Meeting, Jun 07, 2023. Duyuru • Jan 24
Hellenic Telecommunications Organization S.A. to Report Q4, 2022 Results on Feb 23, 2023 Hellenic Telecommunications Organization S.A. announced that they will report Q4, 2022 results Pre-Market on Feb 23, 2023 Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: €0.37 (vs €0.39 in 3Q 2021) Third quarter 2022 results: EPS: €0.37 (down from €0.39 in 3Q 2021). Revenue: €904.8m (up 5.0% from 3Q 2021). Net income: €160.2m (down 19% from 3Q 2021). Profit margin: 18% (down from 23% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 7 non-independent directors. Independent Non-Executive Director Catherine Dorlodot was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 11
Third quarter 2022 earnings released: EPS: €0.37 (vs €0.39 in 3Q 2021) Third quarter 2022 results: EPS: €0.37 (down from €0.39 in 3Q 2021). Revenue: €905.5m (up 5.1% from 3Q 2021). Net income: €160.2m (down 19% from 3Q 2021). Profit margin: 18% (down from 23% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Telecom industry in Germany. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Sep 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.7%. The fair value is estimated to be €19.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 13%. For the next 3 years, revenue is forecast to grow by 1.6% per annum. Earnings is also forecast to grow by 4.7% per annum over the same time period. Reported Earnings • Aug 05
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: €851.2m (up 2.9% from 2Q 2021). Net income: €106.8m (up 66% from 2Q 2021). Profit margin: 13% (up from 7.8% in 2Q 2021). The increase in margin was primarily driven by higher revenue. Over the next year, revenue is forecast to grow 1.0%, compared to a 1.9% growth forecast for the industry in Germany. Reported Earnings • May 13
First quarter 2022 earnings released: EPS: €0.29 (vs €0.22 in 1Q 2021) First quarter 2022 results: EPS: €0.29 (up from €0.22 in 1Q 2021). Revenue: €830.4m (up 5.4% from 1Q 2021). Net income: €129.4m (up 43% from 1Q 2021). Profit margin: 16% (up from 12% in 1Q 2021). Over the next year, revenue is forecast to grow 1.1%, compared to a 2.8% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 15% per year. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 7 non-independent directors. Independent Non-Executive Director Catherine Dorlodot was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Feb 25
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: €3.38b (up 3.6% from FY 2020). Net income: €453.7m (up 105% from FY 2020). Profit margin: 13% (up from 6.8% in FY 2020). The increase in margin was primarily driven by lower expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to stay flat compared to a 2.6% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 13
Third quarter 2021 earnings released The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: €861.8m (down 14% from 3Q 2020). Net income: €197.9m (up 46% from 3Q 2020). Profit margin: 23% (up from 14% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Nov 08
Upcoming dividend of €0.25 per share Eligible shareholders must have bought the stock before 15 November 2021. Payment date: 19 November 2021. Trailing yield: 4.5%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (3.5%). Reported Earnings • Aug 06
Second quarter 2021 earnings released: EPS €0.17 (vs €0.17 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €827.5m (down 9.9% from 2Q 2020). Net income: €64.5m (down 17% from 2Q 2020). Profit margin: 7.8% (down from 8.5% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 18
Upcoming dividend of €0.68 per share Eligible shareholders must have bought the stock before 25 June 2021. Payment date: 02 July 2021. Trailing yield: 4.5%. Within top quartile of German dividend payers (3.2%). In line with average of industry peers (4.1%). Reported Earnings • May 16
First quarter 2021 earnings released: EPS €0.22 (vs €0.21 in 1Q 2020) The company reported a poor first quarter result with weaker earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: €787.9m (down 1.2% from 1Q 2020). Net income: €90.8m (down 7.8% from 1Q 2020). Profit margin: 12% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 10% per year. Reported Earnings • Feb 27
Full year 2020 earnings released The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €3.27b (down 16% from FY 2019). Net income: €221.4m (up 11% from FY 2019). Profit margin: 6.8% (up from 5.1% in FY 2019). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 27
Revenue misses expectations Revenue missed analyst estimates by 8.4%. Over the next year, revenue is forecast to grow 1.1%, compared to a 7.1% growth forecast for the Telecom industry in Germany. Is New 90 Day High Low • Dec 04
New 90-day high: €13.84 The company is up 2.0% from its price of €13.63 on 04 September 2020. The German market is up 4.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Telecom industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.77 per share. Analyst Estimate Surprise Post Earnings • Nov 13
Revenue beats expectations Revenue exceeded analyst estimates by 0.5%. Over the next year, revenue is forecast to stay flat compared to a 12% growth forecast for the Telecom industry in Germany. Is New 90 Day High Low • Oct 19
New 90-day low: €12.01 The company is down 3.0% from its price of €12.40 on 21 July 2020. The German market is flat over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Telecom industry, which is down 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €11.60 per share. 
