Telecom Italia FY results fall short of targets

Friday 8 February 2013 | 09:35 CET | News
Telecom Italia reported full-year results short of its targets, due to continued weakness in Italy and a slowdown in Brazil. The company had forecast flat sales and EBITDA for the year and reported revenues down 1.5 percent to EUR 29.5 billion and EBITDA 4.2 percent lower at EUR 11.7 billion. In Italy, revenues fell 5.8 percent to EUR 17.9 billion, hurt by cuts to mobile termination rates, tough competition and the weak economic climate. Adjusted net debt fell to EUR 28.3 billion at year-end from EUR 30.4 billion in 2011, but did not meet the group's target of EUR 27.5 billion. Operating cash

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Categories: General
Companies: Telecom Italia
Countries: Italy
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