Hellas online reports lower Q1 results‏

Hellas online on Thursday said its revenues fell 9.1 pct to 49.7 million euros in the first quarter of 2015, from 54.7 million in the same period last year. The company attributed this development to a decline in average revenue per customer because of intense price competition in the market and a reduction in end-call charges in fixed-telephony networks.

Pre-tax results showed a loss of 2.6 million euros in the January-March period, from a loss of 1.3 million last year, while EBITDA eased to 10.8 million euros from 13.4 million in 2014.

Cash flows from operating and investment activities totaled 3.4 million euros (outflow) in the three-month period, from an 1.0 euros (inflow) in the same period last year. Net borrowing was 191.6 million euros, up 35.3 million euros from last year. LLU customer base totaled 561,228 at the end of March, up 6.4 pct from last year, with an estimated market share of 27.5 pct. Hellas online said its investments totaled 8.3 million euros in the first quarter, up 5.4 pct from last year.

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