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MILAN: Telecom Italia<\/a>'s (TIM<\/a>) core profit fell sharply in the first quarter hit by shrinking revenues in the group's competitive domestic market, where demand for connectivity weakened after a pandemic-driven surge.
TIM said domestic sales, which accounts for about 80% of group revenue, fell 7.7% to 2.85 billion euros, in line with an analyst consensus provided by the company.
Organic earnings before interest, tax, depreciation and amortisation (EBITDA) after lease fell 16.3% to 1.17 in the January-March period compared with the same period the year before, also broadly in line with analyst expectations.
Organic EBITDA after lease - TIM's main measure of profitability - strips out one-off items and includes lease costs<\/a>.
TIM stuck to a full-year forecast of a 'mid to high teens' drop in core profit after lease, after posting a 2021 net loss of 8.4 billion euros.
The debt laden former phone monopoly is working on an overhaul centred around a split of its services businesses from its wholesale network operations, after ending talks last month on a takeover approach from U.S. fund KKR.
As part of the break-up plan, TIM has started talks with state lender CDP<\/a> to revive a project to combine its fixed network assets with those of broadband<\/a> rival Open Fiber<\/a>.
CDP owns 60% of Open Fiber and 10% of TIM. To ensure state oversight of a strategic infrastructure it would have control of any combined network<\/a> entity.
TIM on Wednesday gave no update on the state of discussions with CDP after the parties missed an initial April 30 deadline for a preliminary agreement.
TIM and CDP need more time to clinch an accord, which could involve also infrastructure funds KKR and Macquarie, two people close to the matter said.
KKR holds a minority stake in TIM's grid. Macquarie is a minority investor in Open Fiber.
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米兰:意大利电信(蒂姆)核心第一季度利润大幅下跌受到收入在集团的竞争激烈的国内市场萎缩,连接性需求减弱后pandemic-driven激增。
蒂姆说国内销售,约占集团收入的80%,下降了7.7%,至28.5亿欧元,符合分析师的共识由公司提供。
有机利息、税项、折旧及摊销前利润(EBITDA)租赁后,1 - 3月的下跌16.3%,至1.17与前一年同期相比,也大致符合分析师预期。
有机EBITDA后租赁-蒂姆的盈利能力的主要指标剔除了一次性物品,包括租赁费用。
蒂姆坚持全年的预测“中期高青少年租赁核心利润下降后,在发布2021年净亏损84亿欧元。
债务拉登前电话垄断正在全面改革的核心服务业务拆分出来的批发网络运营,会谈结束后,上个月在美国基金KKR的收购方案。
分拆计划的一部分,蒂姆已经开始与国家银行CDP恢复一个项目将其固定资产与网络宽带竞争对手开放的纤维。
CDP拥有开放60%的纤维和10%的蒂姆。确保国家战略基础设施的监督控制结合网络实体。
蒂姆周三没有更新后的状态与CDP讨论双方错过了一个最初的4月30日一项初步协议的最后期限。
蒂姆和CDP需要更多时间来达成协议,也可能涉及基础设施基金KKR和麦格理,两位知情人士说。
KKR持有少数股权的蒂姆的网格。麦格理是少数投资者开放的纤维。
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