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Telecom Italia revenues down 8% in Q1, confirms FY core profit forecast

2020-05-19 08:58:00| Telecompaper Headlines

(Telecompaper) Telecom Italia (TIM) confirmed its full-year core profit guidance in spite of an 8.4 percent year-on-year decline in first-quarter revenues to EUR 3.96 billion, attributed to a sharp fall in domestic sales resulting from lower customer numbers in stores and reduced roaming traffic during the coronavirus lockdown. The company's EBITDA was down 7.5 percent year on year on organic terms to EUR 1.77 billion in the first 3 months of 2020 thanks to cost savings and a 1.6 percent rise in revenues at TIM Brasil that partially offset the lower domestic revenues.

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