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Telecom Italia sales down 6.7% in Q4, accelerates spending
2016-02-16 08:34:00| Telecompaper Headlines
(Telecompaper) Telecom Italia reported a 6.7 percent year-on-year fall in fourth-quarter revenues to EUR 4.84 billion in organic terms, hurt by the effects of the macroeconomic situation in Brazil and wholesale price revision in Italy. Domestic revenues came in at EUR 3.87 billion on an organic basis, down 2.6 percent year-on-year but a 0.7 percent improvement compared to Q3, while sales at its Brazil unit TIM Brasil plummeted 20.2 percent on an organic basis to EUR 940 million, impacted by lower handset sales and what the company described as challenging macro and regulatory environments. Group EBITDA fell 33.2 percent to EUR 1.39 billion, with the EBITDA margin dropping 11.3 percentage points to 28.7 percent at the end of Q4. The group said its net debt would fall to below 3 times EBITDA by the end of 2018. Full-year capex was up 18.5 percent to EUR 5.20 billion compared to EUR 4.98 billion in 2014, reaching 27.2 percent of revenues. Separately, the company also announced an investment of around EUR 12 billion on Italian broadband services as part of its new three-year business plan to 2018, around EUR 2 billion more than the previous plan.
Tags: sales
italia
spending
telecom
Category:Telecommunications
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