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Next Record profit, 78 million, for Cyta and new services in view HOME • INSIDER • BUSINESS • Record profit, 78 million, for Cyta and new services in view
& nbsp & nbspO Φιλελεύθερος & nbsp; & nbsp;
Cyta's profit in 2021 reached 78 million euros and the highest point in the last 13 years, based on what the organization announced, which continues to grow to a point that, as it was implied on Tuesday night the Minister of Finance, there is no case for them to return scenarios for its privatization.
READ ALSO: & nbsp; Cyta calls on state for “institutional innovation” in its operation
Specifically, Cyta announced that in 2021 it recorded its highest profitability in the last 13 years, with & nbsp; € 78m. net profit, an increase of 10.6% compared to 2020. It was also announced that the organization invests an amount of € 100 million per year in technological infrastructure for the place, returns to the State about half of its profitability, in total dividends of around € 851 million over the last 20 years and is constantly upgrading the services it offers to its citizens.
The reports of the Minister of Finance, Konstantinos Petridis, must have caused a sensation on Tuesday. As with these he finally put an end to the possibility of a change of ownership of Cyta. Specifically, Mr. Petridis noted that: “Cyta is a modern organization with great prospects, with achievements and international distinctions, something that constantly proves, especially with the results of recent years. I am proud to be its political leader. Cyprus should be proud of the new Cyta. There can be no talk of a new era in communication without Cyta. The State recognizes the important role of the organization and supports its modernization, development and adaptability and is exactly why it will stand by its leadership and strategic plans, supporting the evolution of the institutional & nbsp; institutional framework. “And it is no coincidence that we have withdrawn the bill for the privatization of Cyta.” & nbsp;
In his own greeting, the president of Cyta, & nbsp; Michalis Ioannidis, stressed that “the organization, with eyes open to the future and focused on its role, will support the digital transition of the place”. In this regard, he noted that “it is time to take together with the State and the decisions that allow Cyta to operate on an equal footing with its competitors in the international environment. If we want a public body that in the coming years will continue to support evolution and growth, we must innovate institutionally. This is what we are asking of the State: institutional innovation! “
For his part, Cyta CEO Andreas Neokleous noted that” Cyta today speaks with business logic and the power of numbers. It excels, not with the weight of its name, but with the measurable value of its quality features. By reversing the downward trend of the past and continuing increase in revenue and profitability. No longer first in Cyprus, but first in Europe. Fiber optics and 5G everywhere, unlimited data for everyone, lower prices than ever before, along with the best customer experience and the Cyta seal of reliability “. He also announced the first of a series of pleasant surprises for Cyta customers, which are expected before the end of the year. Specifically, the operation of the Apple Watch Cellular, as a standalone device, exclusively with Cyta eSIM, from June 17.
