Opening in a dive, then the recovery. After the release of the accounts, today the Telecom Italia stock on the Stock Exchange started the session with a drop of more than three percentage points, to then climb up to -1% in the following minutes (against -0,4% for the Ftse Mib) . One hour after the start of trading, the ascent is complete: +1%.
Negative numbers emerged from the 2013 financial statements, but substantially in line with analysts' forecasts. to affect theperformance of shares in Piazza Affari it was above all the decision of the Board of do not distribute the coupon on ordinary shares this year (€0,02 last year). Only savings shareholders will be remunerated, with a dividend of 2,74 cents per share.
The goal is to "further strengthen the company's equity structure and to continue investing in the networks", explained Telecom's managing director, Marco Patuano, underlining that "the progressive recovery of the domestic market will make it possible to return to remunerating all shareholders in the next financial year".
As for the accounts, Telecom closed 2013 with revenues at 23,4 billion euro, down by 9,1% compared to 2012 (-5,2% at the organic level), against the expected 23,462 billion, while the perdita it stood at 674 million, discounting the goodwill write-down of 2,2 billion made in the first half.
THEEbitda fell by 9,4%, to 9,54 billion, in line with the 9,537 billion expected, while thefinancial debt it amounted to 26,8 billion euro, a decrease of 1,5 billion compared to the end of 2012, from the 27,050 billion estimated by the consensus.
"The results for 2013, and in particular the encouraging signals arriving from the last quarter, both in terms of debt reduction and in terms of the performance of the domestic market, allow us to face 2014 with confidence", he Patuano concluded.
Telecom has also launched arepurchase offer for an amount of 500 million bonds treasury in euros at a fixed rate, with maturities between May 2014 and March 2016.
