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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Telecom Italia S.p.A.    TIT   IT0003497168

TELECOM ITALIA S.P.A.

(TIT)
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Telecom Italia S p A : 2Q Earnings Fell, Delays Decision on Secondary Network

08/05/2020 | 02:52am EST

By Mauro Orru

 

Telecom Italia SpA said late Tuesday that earnings fell in the second quarter and it would hold off on a decision over selling a stake in its secondary grid until later this month.

The Italian telecommunications company reported net profit for the quarter of 118 million euros ($139.3 million) compared with a EUR386 million profit in the second quarter of 2019.

Earnings before interest and taxes dropped to EUR509 million from EUR1.20 billion, while revenue fell to EUR3.8 billion from EUR4.52 billion.

Telecom Italia said service revenues were hurt by the effects of the coronavirus crisis, as well as the rationalization of its product portfolio.

"Financial results were affected by the effects of the closure of stores on product sales and the reduced roaming traffic to and from abroad," it said.

Despite the short-term decline, it said it expects a positive effect in the medium to long term due to the faster adoption of digital services.

Telecom Italia's board of directors will reconvene on Aug. 31 to decide on the sale of a stake in its secondary grid to investment firm KKR & Co. The terms of a deal may change following discussions with the Italian government.

KKR submitted a nonbinding offer earlier this year to be Telecom Italia's exclusive partner in fiber-network development, as the company continues to assess possible forms of integration between its own and wholesale operator Open Fiber's optical-fiber networks.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

Stocks mentioned in the article
ChangeLast1st jan.
KKR & CO. INC. -0.41% 38.71 Delayed Quote.32.70%
TELECOM ITALIA S.P.A. 1.57% 0.4012 Delayed Quote.-27.89%
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Financials
Sales 2020 15 996 M 19 148 M 19 148 M
Net income 2020 1 021 M 1 223 M 1 223 M
Net Debt 2020 23 193 M 27 763 M 27 763 M
P/E ratio 2020 8,14x
Yield 2020 2,82%
Capitalization 8 619 M 10 305 M 10 317 M
EV / Sales 2020 1,99x
EV / Sales 2021 1,91x
Nbr of Employees 52 464
Free-Float 72,1%
Chart TELECOM ITALIA S.P.A.
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Telecom Italia S.p.A. Technical Analysis Chart | TIT | IT0003497168 | MarketScreener
Technical analysis trends TELECOM ITALIA S.P.A.
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 0,51 €
Last Close Price 0,40 €
Spread / Highest target 94,4%
Spread / Average Target 26,3%
Spread / Lowest Target -42,7%
EPS Revisions
Managers
NameTitle
Luigi Gubitosi Chief Executive Officer & Executive Director
Salvatore Rossi Chairman
Stefano Siragusa Chief Operations Officer
Giovanni Ronca Chief Financial Officer
Michele Gamberini Chief Technology & Information Officer
Sector and Competitors
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