ΟTE reported another solid quarter with +3.0% adjusted EBITDAL growth, on track to meet management’s FY 2026 target. Underlying business trends largely unchanged: excluding the phasing out of zero-margin international wholesale revenues, sales grew 5% yoy, driven by fiber, mobile (pre2post, data usage) and TV. FCFE reached E137m or E147m adjusted for VRS and other…
As argued in our July upgrade note, we expect H2 growth to accelerate relative to H1 and Jumbo to beat its FY26 guidance, supported by the additional levy imposed on low-cost online retail platforms*. Jumbo reported 13% YoY sales growth in October, the strongest monthly performance since October 2025, accelerating from the 8–9% growth recorded…
The grid operator (OpCo) reported strong Q2 results, with higher tariffs and interconnection fees driving 27% yoy revenue growth. Costs rose at a slower pace (+16%), lifting EBITDA by 33% yoy, while flat depreciation helped EBIT grow 62% yoy.
We initiate coverage of Allwyn following its reverse merger with OPAP and the publication of two sets of quarterly results. The key question is whether Allwyn is the growth story presented to investors and shareholders when the combined entity prospects were communicated almost a year ago.
Ahead of the Q3 reporting season, which kicks off on Oct 29, we revisit Greek banks’ Q2 performance, sector valuations and RoTE waterfalls, alongside recent developments.