Telekom Albania posts 70% y/y decline in H1 adjusted EBITDA

In the second quarter of 2017 alone, the adjusted EBITDA of Telekom Albania declined 60.4% year-on-year to 2.1 million euro, OTE said in its latest quarterly report.

The profitability of Telekom Albania has eroded as a result of the decline in terminating traffic, due to retail price shifts in foreign markets, the Greek group noted.

Telekom Albania's revenue totaled 32.9 million euro in the first half of 2017, down from 40.6 million euro in the like period of 2016, while in the second quarter it declined by 14.4% on the year to 17.2 million euro, OTE said.

The EBITDA margin of the company was 8.8% in the first half of 2017, down from 23.4% in the first six months of last year.

At end-June, Telekom Albania had 1.9 million subscribers, up 7.5% year-on-year.

Telekom Albania, operating as Albanian Mobile Communications (AMC) until July 2015, has been part of Cosmote since 2000.

($=0.8482 euro)