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Telecom Italia parent writes down stake

2013-02-19 01:00:00| Total Telecom industry news

Telco boatd elects to write down value of stake in Italian incumbent by 20%, source claims.

Telecom Italia cuts dividend to boost investments

2013-02-11 08:58:00| Telecompaper Headlines

(Telecompaper) Telecom Italia announced it will cut dividend payments to EUR 450 million a year until 2015, in order to continue investing in the fixed and mobile operations in Italy and mobile services in Brazil. The company will also issue up to EUR 3 billion in hybrid subordinated debt securities in the next 18-24 months to strengthen its balance sheet. In its new strategic plan, the Italian operator targets stable revenues and a smaller decline in EBITDA this year, with net debt cut to less than EUR 27 billion by year-end. In the period to 2015, the aim is a low single-digit CAGR in sales and EBITDA and cumulative capex of EUR 16 billion over the three years. By the end of 2015, adjusted net debt should be less than two times EBITDA. In Italy, the focus will be on expanding the LTE and FTTC networks, as well as implementing another EUR 1.6 billion in cost reductions over the period.

Tags: italia investments telecom cuts

Telecom Italia halves dividend for 2013-2015

2013-02-11 01:00:00| Total Telecom industry news

Italian incumbent aims to support capital spending while maintaining healthy balance sheet.

Tags: italia telecom dividend halves

Telecom Italia FY results fall short of targets

2013-02-08 09:35:00| Telecompaper Headlines

(Telecompaper) 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. 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 flow improved to EUR 6.5 billion from EUR 5.8 billion in 2011. Telecom Italia said it will publish a new strategic plan for 2013-2015 at the presentation of its annual results later on 08 February. It has also decided to delay a decision on the proposed sale of its broadcast unit, Telecom Italia Media.

Tags: results short fall italia