Telecom Italia FY revenues rise 2.5% to EUR27.6 billion

25 Feb 2011

Telecom Italia (TI) has reported revenues of EUR27.6 billion (USD38 billion) for the twelve months ended 31 December 2010, up 2.5% from the EUR26.9 billion reported in 2009. Of the total, EUR20.07 billion was derived from TI’s domestic interests, down 7.4% year-on-year. Revenues generated by the group’s Brazilian interest TIM Brasil Group increased 17.7% to EUR6.2 million, with the operator’s subscriber base increasing 24.1% year-on-year, to 51.02 million. EBITDA for FY2010 was EUR11.4 billion, down 2.7% on the corresponding period in 2009, while consolidated net income amounted to EUR3.1 billion for the year.

In operational terms, at 31 December 2010 domestic fixed line retail accesses stood at 17.6 million, a reduction of 4.9% year-on-year. The wholesale customer portfolio grew however, to approximately 6.9 million accesses, up 9.3%. Broadband subscribers totalled 9.1 million accesses, of which 7.2 million were retail (up 2.5%) and 1.88 million were wholesale accesses (up 8.2%). Telecom Italia Mobile meanwhile claimed 31.02 million subscribers in its home market, an increase of just 0.5% year-on-year.

Franco Bernabe, CEO of Telecom Italia, commented: ‘Telecom Italia underwent a great transformation during 2010, increasing its presence in Latin America – thus rebalancing the group’s activities compared to domestic operations – considerably improving the capital structure, and completing a significant recovery in competitiveness. This year, once again, we achieved the target for domestic EBITDA, standing at EUR9.8 billion, and generated over EUR6 billion of cash flow at group level’.

Italy, Telecom Italia (TIM)