Cyta reports strong growth and operational expansion in 2024-2026 tenure report

The board of directors of the state telecommunications organization Cyta has released an activity report covering the period from February 2024 to July 2026. This term was characterized by a major digital transformation, significant infrastructure investments, and a strategic shift to reinforce the company’s role in Cyprus' digital development.

Financial data indicates a robust performance, with revenue increasing to €444.2 million in 2025 from €405.5 million in 2023, and EBITDA reaching €150.6 million. The organization invested approximately €189 million during 2024–2025, funded entirely through equity rather than bank loans. A pivotal development was the update of the institutional and legislative framework governing the company, which now officially authorizes Cyta to operate in the technology and energy sectors, aiming to enhance long-term competitiveness.

Looking ahead, the board has approved a new Corporate Strategy for 2025–2027. This includes a portfolio of 21 strategic projects, such as the modernization of information systems, network expansion, and the enhancement of data center presence to support the country's technological progress.