TI 1Q14 revenues drop 6.2% to EUR5.2bn

13 May 2014

Telecom Italia (TI) has reported consolidated revenues of EUR5.188 billion (USD7.139 billion) for the three months ended 31 March 2014, down 6.2% from the EUR5.889 billion booked in 1Q13. Of the total, EUR3.728 billion was derived from TI’s domestic interests, down 8.3% year-on-year. Elsewhere, revenues generated by the group’s Brazilian asset TIM Participacoes (TIM Brasil) decreased 0.2% to EUR1.451 billion. Meanwhile, EBITDA for Q1 2014 was EUR2.200 billion, down 5.7% y-o-y from EUR2.402 billion. TI posted a net profit of EUR222 million for the quarter under review, down 39% compared to EUR364 million in the year-ago period. CAPEX amounted to EUR684 million for January-March, down EUR82 million compared with 1Q13. The telco notes that its results were negatively affected by ‘a number of regulatory dynamics and aspects, particularly regarding the prices of wholesale services’.

Italy, Telecom Italia (TIM), TIM Brasil