Telecom Italia reports first half results

26 Jul 2007

Telecom Italia has reported that revenues for the first half of 2007 were flat at EUR15.5 billion (USD21.3 billion), while EBITDA and EBIT were down year-on-year by 3.1% and 8.7% to respectively. The acquisition of AOL Germany and a generous dividend payout is reflected by an almost EUR2 billion increase in net debt to EUR39.2 billion. In terms of segment results, domestic fixed line revenues were down 7.2% to EUR7.9 billion, while domestic mobile revenues came in at EUR4.9 billion, a 1.3% decline. However, strong performance at its European Broadband and TIM Brasil business units helped to offset the declines in its home market performance. At 30 June the company had 7.3 million broadband customers – 6.1 million of which were retail subscribers, 924,000 VoIP subscribers, and 34.3 million mobile users, of which 5.1 million were using UMTS handsets.