Debt Summary

At March 31, 2019, OTE Group gross debt amounted to €1,513.9 million. The total amount of OTE Debt outstanding breaks down as follows (under IFRS):

(€ mn)

March 31, 2018

March 31, 2017

Change

December 31, 2017

Change

Medium & Long-term:

-Bonds

1,043.5

1,668.5

-37.5%

1,632.9

-36.1%

-Bank loans

470.4

393.6

+19.5%

407.8

+15.4%

Total Indebtedness

1,513.9

2,062.1

-26.6%

2,040.7

-25.8%

Cash and Cash equiv.

760.0

1,483.8

-48.8%

1,297.7

-41.4%

Net Debt

753.9

578.3

+30.4%

743.0

+1.5%

Other financial assets

5.9

5.5

+7.3%

5.9

0.0%

Underlying Net Debt

748.0

572.8

+30.6%

737.1

+1.5%