Telecompaper

Telecom Italia reports revenues of EUR 6.77 billion for the third quarter of this year, down 5.6 percent year-on-year and the EBITDA decreased by 0.4 percent to EUR 2.99 billion. These results exclude the figures of TI's German subsidiary Hansenet, which is sold to Telefonica. The EBITDA margin improved by 2.4 percent to 44.2 percent and the EBIT grew 1.3 percent to EUR 1.61 billion. Telecom Italia's net profit for the quarter decreased from EUR 626 million in 2008 to EUR 201 million in Q3 2009, including a write down of EUR 540 million of HanseNet goodwill. The revenues for the first nine months decreased 6.2 percent to EUR 20.19 billion. Telecom Italia's domestic revenues dropped 5.4 percent year-on-year to EUR 16.233 billion and the Brazilian revenues decreased by 8.8 percent to EUR 3622 billion due to currency fluctuations as the revenues show an organic growth of 1 percent year-on-year. EBITDA stood at EUR 8.526 billion for the first nine months growing 1.5 percent year-on-year and the EBITDA margin was 42.2 percent versus 39 percent in the first nine months of 2008. Telecom Italia's net profit for the first nine months decreased by EUR 570 million year-on-year to EUR 1.165 billion, due a EUR 540-million write-down of the goodwill of the broadband business in Germany, aimed at aligning HanseNet's book value to its estimated sale value.