Telecom Italia 1H turnover up 5.6%

Telecom Italia has reported a first half turnover of EUR15.33 billion, an increase of 5.6% compared to the first half of 2005. Excluding the effects of exchange rate variations, organic revenue growth was 2.6%. EBITDA was EUR6.52 billion, an increase of 0.5% while EBIT fell 4.5% to EUR3.8 billion as a result of greater depreciation and amortisation. Investment in the first half was EUR2.2 billion (up EUR38 million) as a result of its UMTS rollout and the launch of HSDPA and DVB-H. Net financial debt stood at EUR41.3 billion at mid-year.