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