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Telecom Italia slows sales fall to 4.5% in Q3 on fibre gains
2014-11-07 08:41:00| 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 a slowdown at its Brazil unit and a recession-hit domestic market. However, the operator welcomed the result as a reversal of its recent revenue decline compared to falls of 11.9 percent and 11.2 percent in the previous two quarters. "There are concrete signs of recovery in the domestic market," said Telecom Italia CEO Patuano in a statement, adding that "we have overcome the price war." EBITDA declined 8 percent to EUR 2.24 billion, and EBITDA margin fell to 41.4 percent from 41.4 percent a year ago. Net profit for the first nine months of the year came in at EUR 985 million compared to a EUR 902 million loss in the same period of 2013, reflecting the impairment loss on goodwill. Capex for the quarter fell to EUR 933 million from EUR 1.4 billion in the year-earlier period, which the company attributed to the abandonment of certain platforms and the simplification of industrial processes, adding that the savings were partly redirected to developing its 4G and fibre networks, which saw a EUR 102 million year-on-year increase in investment. "We're keeping our promises on investments in ultra fast broadband infrastructures and have already covered 100 cities with optical fibre and over 2,500 municipalities with LTE," said the company's chairman Giuseppe Recchi.
Tags: sales
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Category:Telecommunications
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