06 August 2009

Germanos (Romania) posts first-half operating loss of 8.1mn euro

06 08 2009 - Germanos, Romania’s largest telecom retailer said its first-half revenues fell 15.9% to 409.2 million euros, from 486.6 million euros a year earlier, according to OTE, the Greek-based telecommunication provider that holds the mobile phone store chain.

image Despite the 13.1% drop recorded in second quarter this year, to 213.7 million euros from 245.8 million in Apr-Jun 2008, second-quarter revenues were above the ones recorded in Q1.

For the period under review, Germanos recorded an operating loss of 8.1 mn euros, while a year earlier the retailer’s operating income was in the positive territory, at 0.1 million euro.

In April-June, the retailer booked an operating loss of 2.8 mn euros versus an operating profit of 1.4 mn euros YoY.

Germanos’ retail chain covers 900 stores in Greece, Romania, Bulgaria and Macedonia. As the report notes, the network is very important to OTE group especially in Greece and Romania.


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