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General

Telecom Italia sales down 12%, triples cost-cutting target

Monday 16 May 2016 | 08:19 CET | News
Telecom Italia reported a 12.1 percent year-on-year fall in first-quarter revenues to EUR 4.44 billion in organic terms, hurt by the continuing effects of the macroeconomic situation in Brazil and one-off charges. Domestic revenues came in at EUR 3.54 billion on an organic basis, down 2.3 percent year-on-year but identical to the previous quarterly decline, while organic sales at its Brazil unit – TIM Brasil – plunged 15.3 percent to EUR 897 million, impacted by the ongoing recession and provisions for customers' unpaid accounts. Group EBITDA fell 15.8 percent to EUR 1.71 billion, with the

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Categories: General
Companies: Telecom Italia / TIM / TIM Brasil
Countries: Brazil / Italy
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