Greek telecommunications sector’s turnover at 4.9 billion euros

Turnover in the telecommunications sector fell by 1.1% in 2024 (4.9 billion compared to 5 billion euros in 2023), while on the contrary, a 2.3% increase was recorded in revenues from telecommunications services (4.3 billion compared to 4.2 billion).

Revenue from telecommunications services accounted for 88% of turnover.

The contribution of the turnover of the electronic communications sector to the Gross Domestic Product (GDP) stood at 2.1% in 2024, showing a decline compared to 2023, given that the GDP showed an annual increase of 5.5% compared to a decrease of 1.1% in the turnover in the electronic communications market.

During the year under review, the investments of electronic communications providers increased by 10%, amounting to approximately 1.1 billion euros and 22.9% of their turnover, from 20.4% a year earlier. 65% of the providers’ investments concerned fixed networks and 21% were allocated to mobile networks.

Prices for electronic communications services moved at levels lower than the General Consumer Price Index, which recorded an increase of 2.7% compared to 2023, while the Communications sub-index continued its downward trend, having decreased marginally by 0.3%.
Approximately 96% of the turnover in the telecommunications sector comes from three companies, with OTE holding a share of 59.1%, followed by Vodafone (20.8%) and Nova (15.8%).

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Revenue from the provision of fixed network services constituted 53% of the revenue from the provision of telecommunications services.

Retail revenues from telephony and Internet services decreased compared to the previous year, constituting 57% of total revenues from fixed networks, while revenues from wholesale access services (e.g. APTB, co-location, etc.) increased to 11.9%. Regarding mobile networks and services, retail revenues from voice services and mobile data usage again dominated, with percentages of 52.8% and 35.5%, respectively.

Total fixed telephony traffic recorded an annual decrease of 24.2%, mainly as a result of the reduction in the duration of national calls to fixed (2 billion minutes less compared to 2023, i.e. a decrease of 25.2%).

This decrease is due to both the decrease in OTE’s total traffic by 13.8% compared to 2023 and the decrease in alternative providers by 32.8%. OTE continues to lead, with a share of 51.4% of total traffic compared to 45.2% in 2023.