Telecom Italia 1Q Net Loss Narrowed; Revenue Fell

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By Cristina Roca
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Telecom Italia SpA reported late Wednesday a narrowed first-quarter loss, though revenue declined, and said its performance is in line with its outlook.

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The Italian telecommunications company reported a net loss of 204 million euros ($216.7 million), compared with a EUR228 million loss a year earlier.

Earnings before interest, tax, depreciation and amortization came in at EUR1.32 billion, recording a 13% decline on an organic basis.

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Revenue fell 2.3% to EUR3.64 billion. Telecom Italia said that its performance is in line with its full-year views, and that the Italian market last year benefited from a voucher plan and higher connectivity demand due to the pandemic.

The company said it will present its reorganization plan during a capital-markets day on July 7. “The plan, overcoming the vertical integration model, will speed up the route towards a sustainable generation of cash flows and reveal the intrinsic value of the group’s assets , the company said.

Write to Cristina Roca at [email protected]

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Credit: www.marketwatch.com /

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