Telecom Italia EBITDA, Revenue Down; Sees Plunge In Profit; Oks Strategic Plan

(RTTNews) - Italian telecom giant Telecom Italia group (TIAOF.PK, TI) Tuesday reported that its fiscal 2015 EBITDA, a key earnings metric, was 7.004 billion euros, down 20.3 percent from the previous financial year's 8.786 billion euros.

EBITDA margin was 35.5 percent, compared to 40.7 percent in 2014. In organic terms, EBITDA declined 17.9 percent, and EBITDA margin dropped 5.8 percentage points.

Revenues in 2015 amounted to 19.718 billion euros, down 8.6 percent from last year's 21.573 billion Euros. In terms of organic change, consolidated revenues were down 4.6 percent.

Further, the company said it expects to report consolidated profit for the year attributable to the shareholders of the Parent Company of approximately 150 million euros, compared to 1.350 billion euros in 2014.

Pre-tax consolidated profits from current business activities would be approximately 0.7 billion euros, compared to 2.3 billion euros in 2014,

Separately, Telecom Italia said its Board of Directors approved the 20162018 Three-Year Strategic Plan which, following on from last year, provides for an acceleration of investments over the Plan period, with the primary aim of ensuring long-term growth for the Group.

Under the Plan strategy, the company's domestic EBITDA confirmed as stabilising year-on-year in 2016 and growing in 2017 and 2018. Further, growth in revenue share and EBITDA Margin expected in Brazil.