Telecom Italia H1 Profit Rises, Revenues Down; Backs FY19 View - Quick Facts

(RTTNews) - Telecom Italia (TIAOF.PK, TI) reported Friday that its first-half profit attributable to owners of the Parent increased to 551 million euros from last year's 532 million euros. On a comparable basis, attributable profit grew 11.3 percent to 592 million euros.

Comparable EBIT grew 15.9 percent to 1.87 billion euros, and EBITDA went up 8.9 percent to 4.07 billion euros. Group EBITDA after lease stood at 1.8 billion euros, down 1.4 percent from last year.

Revenues for the first half declined 4.4 percent to 8.99 billion euros from 9.41 billion euros last year. Revenues dropped 3.4 percent organically, and 1.2 percent excluding Sparkle and product revenues.

Group revenues in the second quarter reached 4.52 billion euros, down 3.9 percent on organic basis.

Further, the company confirmed its fiscal 2019 business outlook.

As announced earlier, organic group service revenues are expected to post low single digit decrease for 2019, while low single digit growth is targeted for both 2020 and 2021.

Organic group EBITDA-AL is expected to decrease low single digit in 2019, while low single digit growth is targeted for both 2020 and 2021.