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Telecom Italia sales down 4.5% in Q3, reorganises wholesale
2015-11-06 08:30:00| Telecompaper Headlines
(Telecompaper) Telecom Italia reported a 4.5 percent year-on-year fall in third-quarter revenues to EUR 5.4 billion, hurt by the macroeconomic situation in Brazil unit and competition in its domestic market. In the nine months to 30 September, revenues were down 6.9 percent to EUR 14.9 billion, or -3.9 percent on organic terms. EBITDA fell to EUR 5.6 billion, around 14.8 percent less than the first nine months of 2014, while net profit attributable to shareholders plummeted to EUR 362 million, compared to EUR 985 million in the year-earlier period, due above all to one-time charges and the negative impact of the company's bond buyback transactions. Domestically, the situation was rosier, with the third quarter confirming the trend of improving revenues, particularly in mobile, which recorded an increase of 1.5 percent on the third quarter of 2014. Overall third-quarter domestic revenues came in at EUR 3.8 billion, down 1.4 percent on the previous year's results. The company also announced that its board of directors had approved the plan to introduce a new equivalence model, aimed at further strengthening the efficiency and effectiveness of the delivery (activation) and assurance (support) processes in the supply of wholesale services for access to the Telecom Italia fixed network.
Tags: sales
italia
wholesale
telecom
Category:Telecommunications