OTE posts strong Q2 growth, pushes cloud and AI expansion

Chief Executive Kostas Nembis said the second‑quarter performance confirms OTE’s strategic plan and moves the group closer to its 2026 targets, with EBITDA rising again thanks to continued strength in mobile, FTTH, FWA, TV and System Solutions. The company added that FTTH subscriber additions reached historic levels and that its network was named Greece’s fastest mobile network by Ookla for a tenth consecutive year.

OTE also secured a €45 million data‑center contract and is extending its international footprint through collaborations with organisations such as NATO, the United Nations and the European Food Safety Authority. A third pillar of growth is the expansion into high‑growth areas – cloud services, cyber‑security and artificial‑intelligence – including business‑cloud offerings with GPU‑based workloads and the rollout of AI agents for B2B customers. The group’s credit rating was upgraded to A‑ by S&P, supporting its plan to become a digital‑first, AI‑native company while leveraging funding from the Recovery and Resilience Facility and other sources.

The CEO highlighted that a strong project pipeline funded by the RRF in the first half of the year underpins expectations for continued growth through 2027.