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General

Telecom Italia cuts outlook, to go ahead with fixed spin-off

Friday 2 August 2013 | 09:22 CET | News
Telecom Italia reported a net loss for the first half of 2013 after writing down the value of its domestic operations. It also cut its outlook for EBITDA this year forecasting a steeper decline due to weakness in its home market. The net loss totaled EUR 1.407 billion, versus a profit of EUR 1.242 billion a year ago. Revenues fell 7 percent year-on-year to EUR 13.760 billion, with a 10.4 percent fall in Italy and negative currency effects on its operations in South America. EBITDA was down 10.6 percent to EUR 5.236 billion, and Telecom Italia said it now expects a "mid single-digit" decline

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Categories: General
Companies: Telecom Italia
Countries: Italy
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