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MILAN: Core profit at Telecom Italia<\/a> (TIM<\/a>) fell 11.2% in the third quarter from a year hit earlier as shrinking domestic revenues outweighed cost cuts and the contribution from TIM's Brazilian unit.
Italy's biggest phone company on Wednesday said earnings after interest, tax, depreciation, amortisation and lease (EBITDA-AL<\/a>) were 1.31 billion euros in July-September.
That is in line with an analyst consensus provided by the company and down from 1.48 billion euros a year ago.
Revenue in Italy, where the former phone monopoly makes the bulk of its turnover, fell by 5.3% to 2.92 billion euros, also matching expectations.
In confirming its guidance for the year, TIM said its EBITDA-AL would fall by a \"low-teens\" percentage rate.
TIM said it was axing plans to take advantage of some tax measures on goodwill in order to use funds to strengthen its business instead. As a consequence, it wrote off deferred tax assets for a net 1.96 billion euros.
Adjusted net debt was up 15% year-on-year to 25.5 billion euros at the end of September.
Under pressure for years in its fiercely competitive domestic market, debt-crippled TIM is seeking a revamp centred on break-up of its operations into several units in a bid to cut debt.
As part of the efforts, TIM is expected to launch a process to sell a minority stake in its enterprise service arm, a division including connectivity services for big corporate clients as well as cloud, Internet of things and cybersecurity businesses.
TIM has also been in talks over a multi-billion sale of its prized landline grid to state lender CDP<\/a>, which is keen to control a national broadband network champion combining TIM's grid with that of its smaller unit Open Fiber<\/a>
Sponsored by the previous government of Prime Minister Mario Draghi, the single network project is being reassessed by a right-wing government that was sworn in last month.
A potential rethink of the plan to create a unified network champion would include a CDP-backed takeover bid for TIM as a whole, with Vivendi and infrastructure funds joining the process, sources have said.
Cabinet undersecretary Alessio Butti had previously called on CDP to pursue the goal of a unified broadband company taking over TIM, whose stock is trading close to a record low.
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米兰:核心利润意大利电信(蒂姆在第三季度下跌11.2%较去年稍早触及缩小国内收入大于成本削减和蒂姆的巴西的贡献。
意大利最大的电话公司周三表示收益感兴趣后,税收、折旧、摊销和租赁(EBITDA-AL在7 - 9月)是13.1亿欧元。
,符合分析师的共识所提供的公司,从一年前的14.8亿欧元。
收入在意大利,前电话垄断使其营业额的大部分,下降了5.3%,至29.2亿欧元,也符合预期。
在确认其指导,蒂姆表示,其EBITDA-AL会下降”高于“百分率。
蒂姆说,削减计划利用税收措施善意为了使用资金,以加强其业务。因此,净冲销了递延所得税资产19.6亿欧元。
调整后的净债务是同比增长15%至255亿欧元在9月底。
压力下多年来在其国内市场竞争激烈,负债累累的蒂姆寻求改进的业务集中在拆分为几个单位,以削减债务。
作为努力的一部分,蒂姆预计将推出一个过程在其企业服务部门出售少数股权,包括连接一个部门为大公司客户服务以及云、物联网和网络安全企业。
蒂姆也在谈判数十亿出售其珍贵的固定网格国有银行CDP渴望控制全国宽带网络冠军结合蒂姆的网格与规模较小的单位开放的纤维
由前政府总理马里奥•德拉吉(Mario Draghi)的单一网络项目正在重新评估一个右翼政府上个月宣誓就职。
可能重新考虑计划创建一个统一的网络的冠军将包括CDP-backed收购提姆作为一个整体,与威望迪和基础设施基金加入过程中,消息人士说。
内阁副部长塞就只有Butti曾呼吁CDP追求的目标统一的宽带公司接管蒂姆,其股票交易价格接近纪录低位。
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