Cosmote S.A.
 | |
Native name | Cosmote S.A. |
|---|---|
| Company type | Subsidiary |
| Industry | Telecommunications |
| Founded | October 3, 1996[1] in Athens, Greece[2] |
| Headquarters | Marousi, Greece[1] |
Area served | Europe |
Key people | [1][3] |
| Parent | OTE |
| Website | cosmote |
Cosmote is the largest mobile network operator in Greece. The company is headquartered in Athens, Greece and is a fully owned subsidiary of the Hellenic Telecommunications Organization (OTE), the incumbent telecommunications provider in Greece.
History[edit]
2010[edit]
In 2010, Michael Tsamaz was appointed as Chairman and CEO of the OTE Group on November 3. OTE S.A. and COSMOTE S.A. sponsored the 2011 Special Olympics World Summer Games in Athens. The implementation of a FTTC/VDSL2 technology fiber optic network began in several municipalities, expanding the ADSL network to over 1,500,000 ports across 1,500 locations in Greece. OTE S.A. delisted from the New York Stock Exchange. For the first time in Greece, mobile broadband plans offering downlink speeds of 28.8 Mbps were made commercially available, and the leading mobile network recorded downlink speeds of 42.2 Mbps during trials. The new generation LTE mobile telephony networks, reaching speeds of 100 Mbps, were launched on a pilot basis.
2011[edit]
In 2011, the 3G mobile telephony network achieved over 98% population coverage in Greece. The Group was ready to provide broadband speeds up to 50 Mbps via its new fiber optic network. Mobile Internet speeds increased by 40%, reaching downlink speeds of up to 42.2 Mbps and uplink speeds of up to 5.8 Mbps. OTE sold its minority stake in Telekom Srbija for approximately €400 million. Following additional sales of Greek State shares, Deutsche Telekom’s stake in OTE S.A. reached 40%, with the Greek State holding 10%. OTE TV Via Satellite was launched, integrating all pay TV services under the OTE TV brand. The company streamlined customer service, simplified billing, and began remodeling shops. AMC (Albanian Mobile Communications) secured a second 3G license in Albania, and additional spectrum bands in the 900 and 1800 MHz ranges were obtained for over €118 million.
2012[edit]
In 2012, VDSL services offering speeds up to 50 Mbps were launched, and LTE/4G mobile networks became commercially available in Athens and Thessaloniki. OTE TV surpassed 100,000 subscribers, enhanced by new high-definition channels and advanced services. New Double Play Unlimited Plans combined Internet and unlimited telephony at reduced prices. Two Voluntary Exit Schemes were completed as part of the company's transformation, and AMC in Albania achieved 95% 3G population coverage within three months of license acquisition.
2013[edit]
In 2013, high-definition voice services were offered to mobile customers for the first time in Greece. The OTE Group announced €1.2 billion investments in New Generation Networks over the next four years. Globul was sold to Telenor Group for €717 million, and OTE S.A. issued five-year fixed-rate bonds valued at €700 million. OTE TV subscriptions exceeded 250,000. The company sold its 99.05% stake in Hellas Sat. VDSL services reached over 1 million households, and 4G coverage exceeded 55%. The Voluntary Exit Schemes saw 1,827 employees accept incentives, especially those close to retirement.
2014[edit]
In 2014, a new collective labor agreement was signed, securing jobs for three years. Mobile telephony spectrum rights were secured for €135 million. OTE Group undertook the Rural Broadband project, providing fast Internet to 2,247 remote areas. Pilot tests for 4G+ mobile broadband achieved speeds of up to 300 Mbps. OTE TV secured exclusive broadcasting rights for UEFA Champions League and UEFA Europa League games from 2015 to 2018. COSMOTE Romania and RomTelecom were renamed Telekom Romania.
2015[edit]
In 2015, COSMOTE became the unified brand for all fixed, mobile, and Internet services. COSMOTE One and COSMOTE Business One were launched. The 4G+ mobile network was introduced, reaching speeds of up to 375 Mbps and later up to 500 Mbps. 4G coverage exceeded 80%, and VDSL coverage reached 40%. OTE TV had over 445,000 subscribers. OTE S.A. issued a €350 million bond, returning to the market after more than a year. The fixed network transformation into an All IP network began, and AMC was renamed Telekom Albania.
2016[edit]
In 2016, COSMOTE TV was launched as part of a unified brand strategy. The OTE Group signed loan agreements with European Bank for Reconstruction and Development (EBRD) and Black Sea Trade and Development Bank (BSTDB), totaling €389 million for strategic investments. COSMOTE introduced mobile Internet speeds up to 500 Mbps and was the first in Greece to implement IPv6. The COSMOTE HISTORY channel was created, and COSMOTE Home Speed Booster was launched, combining fixed and mobile broadband speeds. COSMOTE introduced Narrow-Band Internet of Things (NB-IoT) technology and created a new Data Center for Coca-Cola HBC. The Rural Broadband project began commercial rollout, and 4G coverage exceeded 93%, with 4G+ at 82% and VDSL at 46%. COSMOTE TV surpassed 500,000 subscribers. The OTE Group donated over €600,000 for Hellenic Coast Guard vessels and offered free Wi-Fi at top archaeological sites and museums.
2017[edit]
In 2017, OTE S.A. piloted the "fiber-to-the-home" (FTTH) network in Athens, offering speeds up to 1 Gbps. The OTE Group received the “2017 Capital Link CSR Leadership Award” and became the first Greek telecommunications provider certified for its Energy Management System according to ISO 50001. The new COSMOTE e-value “green” building in Athens was officially opened. A new Trauma Center was created at the Karpenisi General Hospital, serving over 7,000 children annually. OTE Group increased investments to €1.5 billion for fiber optic and 4G/4G+ networks from 2017-2020. OTE Group upgraded approximately 12,000 cabinets in 168 urban centers for Internet speeds of at least 100 Mbps. COSMOTE S.A. signed loan agreements with European Investment Bank (EIB) and EBRD, totaling €300 million for mobile broadband network expansion. Groundbreaking wireless IP Trunk technology was deployed on Kastellorizo Island. COSMOTE implemented NB-IoT technology in Patras, and the OPAP Group selected OTE Group as a strategic partner for telecommunications infrastructure upgrades. Smart Parking, Smart Lighting, and Air Quality Monitoring systems were piloted in Chalkida. COSMOTE introduced the COSMOTE Prepaid Mastercard for secure transactions.
2018[edit]
In 2018, COSMOTE introduced a new corporate tagline and committed to creating a better world through technology. OTE Group announced a new investment plan of up to €2 billion by 2022 for infrastructure and new generation networks. The FTTH network was launched, offering speeds of 100 and 200 Mbps. COSMOTE installed a 5G pilot network in Zografou and launched the first 5G trial network in Greece, reaching live speeds of over 12 Gbps. OTE raised €400 million from a new bond issue, which was oversubscribed 5x. COSMOTE won the “Greece's Fastest Mobile Network 2018” award and received the “Best in Test” certification for mobile services for the fifth consecutive year. COSMOTE TV renewed exclusive broadcasting rights for UEFA Champions League and Europa League matches until 2020/21. New collective labor agreements were signed, and Coca-Cola HBC selected OTE Group for IT support services in 19 countries. Fraport Greece upgraded 14 regional airports with COSMOTE's services. The OTE Group's Telecommunications Museum was honored as the 2018 Museum of the Year by ICOM. OTE Group was included in the Vigeo Eiris Best Emerging Markets Performers index for sustainable development. COSMOTE TV introduced thematic packs, enabling flexible access to content on various devices. COSMOTE Customer Service was named “Customer Call Centre of the Year” by HICS.
2019[edit]
In 2019, OTE completed the sale of its stake in Telekom Albania for €50 million. OTE Group introduced FTTH in Thessaloniki, providing 15,000 households and businesses with internet speeds of 100 and 200 Mbps. OTE Group received the “Digital Evolution” award at Growth Awards 2019 for its digital transformation efforts. COSMOTE TV renewed Premier League’s exclusive broadcast rights in Greece until 2022.
2020[edit]
In 2020, COSMOTE introduced 5G to Greece, with the first video call over 5G taking place at Maximos Mansion. COSMOTE achieved its target of providing FTTH connections to 300,000 households and businesses. OTE Group launched initiatives worth €12 million to support communication, employment, education, and healthcare during the COVID-19 pandemic, including a €2 million donation to Greek hospitals. COSMOTE set new environmental targets, committing to 100% renewable energy use and a 90% reduction in greenhouse gas emissions. COSMOTE's mobile network was awarded the ‘Greece's Fastest Mobile Network 2020’ by Ookla for the fourth consecutive year. OTE sold its 54% stake in Telekom Romania Communications to Orange Romania for €268 million but retained its mobile telephony company. OTE was ranked among global leaders in sustainable development for the 12th year by the FTSE4Good index. COSMOTE donated €500,000 to the Hellenic National Defence General Staff. OTE Group digitized Mount Athos documents, books, and relics for the ‘Athonic Digital Ark’ project.
2021[edit]
In 2021, OTE Group announced increased investments exceeding €3 billion by 2027 to expand FTTH to 3 million households and businesses, covering almost two-thirds of Greece. COSMOTE began upgrading broadband speeds for customers where FTTH was not available. COSMOTE 5G population coverage exceeded 60% nationwide. The OTE Group restructured customer services, stores, and technical departments, which were absorbed by COSMOTE e-Value, Germanos, and COSMOTE Technical Services, respectively. COSMOTE created the first 5G campus network in Greece at Athens International Airport and conducted the first live television broadcast via a 5G network. The myHealth app, giving citizens access to their health profile, was implemented by OTE Group. COSMOTE launched “COSMOTE Neo,” a fully digital mobile plan with no commitments. COSMOTE's mobile network was named “the fastest mobile network in Greece” by Ookla for the fifth consecutive year and received the ‘Best in Test’ certification for the seventh consecutive time from umlaut. OTE was included in the Bloomberg Gender–Equality Index (GEI) for the second year.
2022[edit]
In 2022, COSMOTE offered speeds up to 1Gbps through the COSMOTE Fiber network. COSMOTE 5G coverage reached 80% nationwide. OTE Group entered the mobile electronic transaction market with the Payzy by COSMOTE app, a mobile wallet with state bill payment and subscriber perks. OTE Group received €150 million from the Greek Recovery and Resilience Mechanism via an EBRD loan for digital investments. COSMOTE offered unlimited airtime to GIGAMAX and BUSINESS GIGAMAX subscribers. OTE Group led Cyprus's National Health System into the digital age with a new health information system. COSMOTE installed an innovative network at the Olympias mine. COSMOTE's network was named “the fastest mobile network in Greece” by Ookla for the sixth consecutive year and received the ‘Best in Test’ certification from umlaut for the eighth consecutive year. BOX (app), COSMOTE's food delivery service, expanded to 10,000 stores in 64 cities. OTE was included in the FTSE4Good Index Series for the 14th consecutive year and in the Bloomberg Gender–Equality Index (GEI) for the third year. OTE received an “A-” from CDP for climate change transparency and performance.
2023[edit]
In 2023, OTE Group undertook the development of FTTH infrastructure in semi-urban and rural areas, bringing ultra-high internet speeds to over 350,000 households and businesses. COSMOTE upgraded its 5G network to 5G SA (Stand-Alone), enhancing speeds, latency, indoor coverage, and reliability. COSMOTE 5G coverage reached 90% nationwide, achieving its target ahead of schedule. The OTE Headquarters building in Marousi underwent reconstruction, focusing on employee health, well-being, and sustainability. OTE Group disbursed €6.2 million in bonuses to employees and signed new three-year labor agreements with additional benefits. The University of Piraeus awarded an Honorary Doctorate to OTE Chairman and CEO Michael Tsamaz. OTE was included in the FTSE4Good Emerging index for the 15th year and signed the UN Women’s Empowerment Principles. OTE was included in the Bloomberg Gender Equality Index (GEI) for the fourth consecutive year. COSMOTE's mobile network was named “the fastest mobile network in Greece” by Ookla for the seventh consecutive year and received the “Best in Test” certification from umlaut for the ninth consecutive year. COSMOTE CHRONOS, an augmented reality app, revived the Acropolis’s peak time. COSMOTE launched the COSMOTE BLUE initiative for sea protection and the payzy pro mobile app for small and medium-sized enterprises. BOX (app) expanded to over 11,000 partner stores in 70 cities.
Subsidiaries[edit]
In 2000, COSMOTE acquired 85% of the share capital of the Albanian mobile operator AMC. By April 2009, COSMOTE increased its stake in AMC to 97.6% by purchasing an additional 12.6% from the Albanian State for a cash consideration of €48.2 million. In July 2015, AMC rebranded as Telekom Albania and came fully under German supervision. On January 16, 2019, OTE, a part of Deutsche Telekom, agreed to sell Telekom Albania to Vivacom Bulgaria for €50 million.
Similarly, in July 2005, COSMOTE acquired 70% of COSMOROM, the mobile arm of the Romanian national operator Romtelecom. Later that year, COSMOROM was rebranded as COSMOTE Romania. In November 2009, COSMOTE further expanded its presence in Romania by acquiring Telemobil SA (Zapp), the first CDMA 450 MHz mobile phone operator in Romania, thereby gaining access to the 3G license and infrastructure in the country. In September 2014, COSMOTE Romania merged commercially with Romtelecom, resulting in the rebranding and consolidation of the entity into Telekom Romania.
In addition to these mobile operations, COSMOTE expanded its reach through the acquisition of Germanos SA in 2006. Germanos, a multinational retail network for telecommunication services and products with operations in Greece and Romania, became a significant part of the COSMOTE brand.
The subsidiaries of COSMOTE include a variety of entities under the OTE Group, offering a wide range of services. These subsidiaries include:
- COSMOTE e-value: Specializing in contact center services.
- Germanos: Providing technology products and telecommunications services.
- OTE ASFALISI Insurance Agent: Focused on private insurance services.
- OTE Estate: Managing the real estate assets of the OTE Group.
- OTEAcademy: Dedicated to education and vocational training.
- OTESAT_MARITEL: Offering satellite services for maritime communications.
- COSMOTE Global Solutions: Providing ICT solutions and services on an international scale.
- Telekom Romania Mobile: Operating in the Romanian mobile telecommunications market.
These diverse subsidiaries enable COSMOTE to offer a comprehensive range of services, from telecommunications and technology products to insurance, real estate management, education, and maritime communications.
Sponsorships[edit]
Sports Sponsorships[edit]
COSMOTE is actively involved in the sponsorship of several prominent Greek football clubs. These include:
- PAE Olympiacos F.C.: As an official sponsor, COSMOTE supports this highly successful Greek football club known for its numerous awards and high ambitions.
- Panathinaikos F.C.: COSMOTE is the official sponsor of Panathinaikos F.C., a club with a significant presence in Greek football.
- AEK F.C.: COSMOTE sponsors AEK F.C., a Greek football club with a dedicated fan base and strong community ties.
- PAE OFI 1925 F.C.: COSMOTE is the official sponsor of PAE OFI Football Club, backing the team in various initiatives.
Olympic Sponsorships[edit]
COSMOTE, in collaboration with OTE, played a pivotal role in sponsoring Greek athletes and teams during the Athens 2004 Olympic Games. Their support extended to Greek Olympians in Weightlifting and Athletics, as well as the Greek Men's Olympic Volleyball team, showcasing their commitment to promoting sports on an international level.
Technology and Digital Services[edit]
COSMOTE is dedicated to fostering technological advancement through initiatives such as the "Digital Tools for Small and Medium-sized Enterprises" programme. This programme offers digital tools with a 90% subsidy for cloud-based collaboration, fleet monitoring, remote work, internet security enhancement, and e-commerce, benefiting Greek enterprises with up to 250 employees.
Other Sponsorships[edit]
In addition to its sports and technology sponsorships, COSMOTE is involved in a variety of other sponsorships:
- NFL: COSMOTE TV holds the rights to broadcast the National Football League (NFL) in Greece for the next two years, bringing top American football action to Greek viewers.
- Tennis: COSMOTE TV secured exclusive rights to broadcast ATP Tour tennis tournaments and events in Greece until 2026.
- MotoGP: COSMOTE TV renewed its rights to broadcast the FIM MotoGP World Championship in Greece for the next three years, continuing its coverage of premier motorcycle racing.
- Basketball: COSMOTE TV broadcasts major basketball leagues, including the NBA, WNBA, ACB Liga Endesa, and the Turkish Basketball Super League, offering extensive coverage of basketball to Greek audiences.
Corporate Responsibility (CR) Programme[edit]
COSMOTE's Corporate Responsibility programme underscores its commitment to the environment, society, the marketplace, the workplace, and public awareness. Key actions under this programme include:
- Athens 2004 Olympic Games Sponsorship: Jointly with OTE, COSMOTE sponsored Greek Olympians, showcasing their dedication to supporting national athletes.
- Scholarship Programme: COSMOTE offers scholarships to high school graduates who have been admitted as first-year students in higher educational institutions in Greece, promoting education and academic excellence.
- Digitisation of Halki Seminary Libraries: In October 2011, COSMOTE announced support, together with OTE, for the digitisation of the libraries of the Halki seminary in Constantinople, preserving cultural heritage.
- Exhibition Sponsorship: In 2012, OTE and COSMOTE sponsored the exhibition "The Antikythera Shipwreck: The Ship, the Treasures, the Mechanism" at the National Archaeological Museum, supporting cultural and historical awareness.
Through these varied sponsorships and corporate responsibility initiatives, COSMOTE demonstrates its commitment to enhancing sports, technology, education, and cultural preservation in Greece and beyond.
[edit]
Cosmote is a fully owned subsidiary of OTE S.A. The Hellenic Telecommunications Organization (OTE) owns 100% of COSMOTE. On May 14, 2008, the Greek government and Deutsche Telekom (DT) reached an agreement for DT to become a significant shareholder in OTE. Initially, both parties were to hold a stake of 25% plus one share. Subsequently, on August 3, 2008, DT increased its stake in OTE by an additional 5%, bringing its total to 30%. In June 2011, Deutsche Telekom further increased its stake by acquiring an additional 10%, raising its total shareholding in OTE to 40%.
As of the latest shareholding structure, Deutsche Telekom holds 52.77% of OTE's share capital, while the Greek State retains 7.61%. The free float accounts for 38.55% of OTE's shares, with e-E.F.K.A. (the Greek Social Security Institution) holding 6.49%, and OTE itself holding 1.04% of its own shares.
Financial results[edit]
| Year[4] | Revenues | EBITDA | EBITDA margin |
|---|---|---|---|
| 2007 | 1,735.9 mil. € | 724.4 mil. € | 41.7% |
| 2008 | 1,843.1 mil. € | 781.9 mil. € | 42.4% |
| 2009 | 2,007.4 mil. € | 741.8 mil. € | 37% |
| 2010 | 1,812.1 mil. € | 667.6 mil. € | 36.8% |
| 2011 | 1,647.5 mil. € | 616.6 mil. € | 37.4% |
| 2012 | 2,057.0 mil. € | 755.9 mil. € | 36.7% |
| 2013 | 1,859.8 mil. € | 647.6 mil. € | 34.1% |
| 2014 | 1,202 mil. € | 431.8 mil. € | 35.9% |
| 2015 | 3,903 mil. € | 1,320 mil. € | 33.8% |
| 2016 | 3,908 mil. € | 1,331 mil. € | 34.1% |
| 2017 | 3,857 mil. € | 1,293 mil. € | 33.5% |
| 2018 | 3,872 mil. € | 1,276 mil. € | 33.0% |
| 2019 | 3,907 mil. € | 1,317 mil. € | 33.7% |
| 2020 | 3,256 mil. € | 1,232 mil. € | 37.8% |
| 2021 | 3,380 mil. € | 1,319 mil. € | 39.0% |
| 2022 | 3,390 mil. € | 1,317 mil. € | 38.9% |
References[edit]
- ^ a b c "(DIAGRAFIKE)COSMOTE – KINITES TILEPIKOINONIES". Retrieved 4 January 2024.
- ^ "ΕΦΗΜΕΡΙΣ ΤΗΣ ΚΥΒΕΡΝΗΣΕΩΣ ΤΗΣ ΕΛΛΗΝΙΚΗ ΔΗΜΟΚΡΑΤΙΑΣ - ΤΕΥΧΟΣ ΑΝΩΝΥΜΩΝ ΕΤΑΙΡΕΙΩΝ ΚΑΙ ΕΤΑΙΡΕΙΩΝ ΠΕΡΙΩΡΙΣΜΕΝΗΣ ΕΥΘΥΝΗΣ - Αρ. Φύλλου 6719" (in Greek). Government of Greece. 3 October 1996. Retrieved 4 January 2024.
ΕΔΡΑ: Ο Δήμος Αθηναίων.
- ^ "Management Team". Retrieved 4 January 2024.
- ^ "Financial Statements of OTE Group Companies".
External links[edit]
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