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General

Telecom Italia scraps 2013 dividend, meets debt target

Friday 7 March 2014 | 09:57 CET | News
Telecom Italia reported a full-year net loss of EUR 674 million in 2013, the third straight annual deficit, as sales fell 9.1 percent to EUR 23.41 billion. The full-year result reflected goodwill writedowns of EUR 2.2 billion made in the first half of the year, without which the group profit would have been EUR 1.5 billion. EBITDA for the year fell EUR 985 million to EUR 9.54 billion with the EBITDA margin coming in at 40.8 percent. The company confirmed that it had met its debt target of EUR 27 billion, having cut debt by EUR 1.48 billion to EUR 26.81 billion, after selling assets including

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Categories: General
Companies: Telecom Argentina / Telecom Italia / TIM
Countries: Italy
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