Telecom Italy archives the first nine months of 2014 with growing profits and declining turnover. The company communicated this this morning, specifying that theconsolidated net profit it reached 985 million euros, compared to the loss of 902 million euros recorded in the same period of 2013, which however discounted the impairment of goodwill.
Furthermore, between January and September, theEbitda amounted to 6.588 million, down by 7,7% (-6,4% in organic terms), while the revenues they stopped at 15.972 million, down by 9,1%, 6% in organic terms. Core domestic revenues fell 7,5%. Net debt at the end of September amounted to 26.572 million, while the liquidity margin was 12,3 billion.
Telecom, in any case, sees "signs of recovery on the domestic market" and considers "the season of the price war over - commented the group's managing director, Marco Patuano -. The recovery is consistent with the forecasts and dynamics of the 2014-2016 three-year plan". As for the sale of the towers in Italy and Brazil, planned at the end of last year to reduce debt, "activities aimed at implementing the aforementioned projects are still underway", concluded Patuano.
- investments industrial costs in the first nine months of 2014 amounted to 2.640 million euros, a decrease of 397 million euros compared with the first nine months of 2013. Cash flow from operating activities was a positive 2.272 million euros (a positive 2.456 million euros in the first nine months of 2013).
According to the president of Telecom, Joseph Recchi, to develop fixed and mobile ultrabroadband, the group is “investing heavily both in Italy and in Brazil. And he's doing it with a view to financial compatibility. In Italy, with around 3 billion a year, we are the first investment company and we are carrying out an ultrabroadband coverage plan that has already reached 100 cities with fiber optics and over 2500 municipalities with Lte mobile telephony”.
