Telecom Italia net profit up 4.2%

9 May 2007

Telecom Italia announced yesterday a year-on-year 4.2% rise in net profit to EUR775 million (USD1.05 billion) as growth outside Italy and a lower tax rate offset falling domestic margins. Overall revenue was up 0.8% to EUR7.5 billion. Although domestic wireline sales declined 6.9%, revenue at the telco’s European broadband unit rose 49% to EUR304 million, while Brazilian cellco TIM Brasil posted a 37.4% sales hike to EUR970 million. Overall EBITDA slipped from EUR3.3 billion to EUR3.2 billion, while net debt improved slightly to EUR37.2 billion from EUR37.3 billion.

Italy, Telecom Italia (TIM)