Telecom Italia revenues down 2.7% in H1, starts evaluating asset sales

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(Telecompaper) Telecom Italia (TIM) reported a 2.7 percent year-on-year decline in first-half revenues to EUR 9.51 billion on a comparable basis, hit by the devaluation of the Brazilian real at its TIM Brasil unit, a recent jobs deal, the return to monthly billing in Italy and other regulatory impacts. The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) was EUR 3.92 billion in the first six months, down 4.8 percent compared to the year-earlier result of EUR 4.11 billion, while the margin was down 0.9 of a percentage point to 41.2 percent. TIM added that organic EBITDA net of non-recurring components and other one-offs totalled EUR 4.04 billion, some EUR 2 million higher than a year earlier, while capital expenditure fell EUR 381 million to EUR 1.68 billion on a comparable basis.
Source: Industry News (syndicated from Telecompaper.com)

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