With wishes comes the balance year-end for Tim. To draw the budget, evaluate the objectives achieved and define the new goals isTo Pietro Labriola in the letter he wrote to employees on the eve of the holiday break and just as Tim's shareholders and the government are around the table planning the group's future. A future that will have to be realized concretely by Tim's CEO Pietro Labriola and by the employees of the national telecommunications operator.
Tim Labriola to employees: “Respected the commitments on results. Now fearlessly forward into 2023”
“Let us not be misled by what we read and hear. Re-read what we have done, look around you - writes Pietro Labriola - I and all the management are certain that Tim is a living company which has returned to being a leader always in compliance with the rules and regulations. We must be proud of what we have achieved together this year”.
The manager points out that Tim has managed to "respect the commitments on results" communicated to the financial market at the beginning of the year, even reaching an improvement in the guidance at mid-year; you regained your pride and reaffirmed your leadership by winning the 5 tenders of the PNRR and creating the National Strategic Pole (which started on 21 December with the signing of the convention, ed)". The gaze must now be turned to the new year that is about to begin.
“We must have the courage to dare, not to be afraid to face together a 2023 which will not be downhill but towards which, and looking at our abilities and with a great sense of responsibility, we can say: let's continue like this ", writes the manager in the letter.
Tim: recovered an industrial vision suited to the challenges of the market
The manager claimed the new industrial strategy adopted for the relaunch of the group and recalled that Tim is working "on focusing on the different business models (Infrastructure, Consumer, Enterprise)". “These are markets that move with different dynamics and the “one size fits all” approach is no longer right. Having shown the market the value that we can express through our "delayering" plan, i.e. focusing on the various business segments, (presented less than 6 months ago) has already had a positive effect because the main analysts have begun to squeeze assessments regarding the sum of the parts 16% higher than the integrated company, but I'm sure this value is even higher”, added Labriola.
"In infrastructure, we are facing a wave of investment equal only to that which characterized our group when it was a public concessionaire", underlines the manager again, reiterating the vision of his plan: overcoming vertical integration, new cost models to remunerate the capital and a consolidation of the sector where the competitive pressure has reached extremely high levels.
“The Italian consumer market – he writes – is characterized by a competitive pressure that has no equal in Europe and in the world and this will hopefully lead to a consolidation of the market. To deal with this change we must become more efficient and this is an obligation, not a choice", concluded Labriola, who also observed how the company is the "undisputed leader" in the Enterprise segment but how at the same time "we cannot let our guard down , we must face and overcome the next challenges such as those of Cloudand Cybersecurity and IoT".
Tim: Government working on network assessment
Labriola's letter to employees comes on the eve of a new one technical meeting between the representatives of the Presidency of the Council, of Mimit, of the Mef, of Vivendi and Cdp Equity who should finally get to talk about possible solutions for creating the National Network.
“The strong emerges government commitment in carrying out the analysis of the dossier and the willingness to support interventions to support the telecommunications sector which implicitly support the evaluation of the network asset. However, there are still no clear indications on what will actually be implemented at the end of this analysis” note the analysts of Equity. Furthermore, "the need for longer times to arrive at a shared solution" emerges, overriding in the first half of 2023, however, is difficult to reconcile with the timescales envisaged by Labriola's plans which in February should have presented theupdate of the business plan, this time with an element of discontinuity such as the separation of Netco which would have allowed him to further improve the guidance.
Betting on an acceleration, the Stock Exchange closed with the Telecom Italia share up by 2,23% to 21,6 cents.
