Sales down at Telecom Italia

22 Feb 2019

Telecom Italia (TIM) has reported revenues of EUR19.11 billion (USD21.67 billion) for full-year 2018 on a comparable basis, down 3.6% on the 2017 total. The fall was attributed to a depreciation of the Brazilian real and a poor performance at its domestic business unit. Revenues for the fourth quarter fell 5% to EUR4.86 billion.

Full-year EBITDA dropped 1% from EUR7.79 billion in 2017 to EUR7.71 billion last year, while comparable EBITDA for the fourth quarter rose by EUR6.7 million to EUR1.68 billion. Net loss totalled EUR1.41 billion in 2018, though excluding one-off items – including a EUR2.45 billion goodwill impairment on the core domestic business due to 5G licence acquisitions – the firm says it would have registered a net profit of EUR1.4 billion.

Brazil, Italy, Telecom Italia (TIM), Telecom Italia Group (TIM Group)