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’.