TI FY13 revenues down 9.1% to EUR23.4bn

Telecom Italia (TI) has reported consolidated revenues of EUR23.407 billion (USD32.226 billion) for the twelve months ended 31 December 2013, down 9.1% on the EUR25.759 billion reported in 2012. Of the total, EUR16.175 billion was derived from TI’s domestic interests, down 9.6% year-on-year. Of that figure, EUR15.269 billion was generated by ‘core domestic’ activities, while the remaining EUR1.263 billion came from TI’s international wholesale business. Elsewhere, revenues generated by the group’s Brazilian asset TIM Brasil decreased 7.1% to EUR6.945 billion. Meanwhile, EBITDA for FY2013 was EUR9.540 billion, down 9.4% y-o-y, from EUR10.525 billion. TI recorded a net loss of EUR674 million in 2013, reflecting the ‘impairment loss on goodwill for EUR2.2 billion made during the first half of the year’. Without the write-down, the group’s profit would have been EUR1.513 billion, TI noted.