Cyta remains financially strong, reporting revenues of €415 million in 2024 and an expected pre-tax profit of €59 million, according to the organization's president, Maria Tsiakka. She presented the 2025 budget before the Parliamentary Committee on Finance, highlighting Cyta’s economic contributions and strategic investments.

Since 2000, Cyta has contributed over €1.27 billion to the state, including €914 million in dividends and €359 million in taxes. “This contribution is not just numbers; it is an investment in Cyprus and its people,” Tsiakka stated.

Cyta continues to be a modern public telecommunications organization, supporting economic growth and ensuring equal access to technology for all citizens, businesses, and communities. In 2024, significant infrastructure projects reinforced Cyprus’ position as a leader in technology.

Following the nationwide 5G network expansion, Cyprus now ranks first in Europe in 5G coverage, according to the Digital Decade Index, a significant leap from 17th place in 2021.

Tsiakka also emphasized the importance of Cyta’s international network upgrades, stating: “Our investments in satellite and submarine cable infrastructures have strengthened Cyprus’ geopolitical significance, establishing it as a reliable telecommunications hub in the Eastern Mediterranean. We recently signed an agreement for the extension of the BlueMed cable to Cyta’s Geroskípou landing station, improving Cyprus’ connectivity with Greece and other Mediterranean countries.”

Cyta’s 2025 development budget is set at €108 million, focusing on projects that will keep Cyprus at the forefront of the digital era. The primary objective is the nationwide expansion of fiber optic coverage, making Cyprus the first EU country to achieve full fiber-to-the-home connectivity.

Cyta has committed to completing fiber network expansion in mountainous areas, targeting 100% coverage by the end of 2025. Additionally, data centers have been upgraded to meet growing customer and business demands.

The organization is also launching Cyprus’ first international green data center, a highly certified facility expected to attract local, regional, and global clients.

Ensuring that networks and infrastructure adhere to strict cybersecurity standards remains a priority. Cyta is modernizing its IT systems through international collaborations, enhancing customer experience and competitiveness.

Moreover, Cyta is investing in the transition towards energy independence, aiming to reduce its carbon footprint and operational costs. “We continue to improve everyday life for citizens and shape a more modern, sustainable, and competitive Cyprus,” Tsiakka stated.

In 2024, Cyta introduced a new employee category to meet the demands of a modern telecommunications organization, ensuring continued competitiveness. Additionally, a new promotion system, the first of its kind in the public sector, was implemented to enhance meritocracy and career opportunities.

However, the freeze on hiring remains a challenge, affecting Cyta’s ability to fill critical positions and maintain high service levels. “We are not asking for an increase in staff but for the ability to fill key positions promptly, allowing us to remain competitive and ensure uninterrupted services for society and the economy,” Tsiakka emphasized.