Telecom Italia S.P.A. Reports Growth in 2024

Telecom Italia S.P.A. ( (TIIAY) ) has released its Q3 earnings. Here is a breakdown of the information Telecom Italia S.P.A. presented to its investors.

Telecom Italia S.P.A., commonly known as TIM, is a leading telecommunications provider in Italy, offering a range of services including mobile, internet, and fixed-line communications, with operations extending into the Brazilian market.

In the latest financial report for the first nine months of 2024, Telecom Italia S.P.A. reported growth in revenues and earnings, alongside a reduction in debt as part of its strategic transformation plan. The company has successfully completed the sale of its NetCo business, which has significantly reduced its financial liabilities and allowed for a new business model focused on industrial components.

Key financial highlights include a 3.4% year-on-year increase in group revenues to €10.7 billion, and a notable 11.1% rise in EBITDA after lease to €2.7 billion. The domestic market contributed €7.4 billion in revenues, while the Brazilian segment showed strong growth with a 7.2% increase to €3.3 billion. The company’s net financial debt after lease was reduced to below €8 billion, reflecting the positive impact of the NetCo transaction.

Strategically, TIM has focused on strengthening its competitive position through repricing activities, increased ARPU, and expanding its offerings in broadband and entertainment. The company has also made significant strides in cloud services, security, and IoT, positioning itself well in the enterprise market.

Looking ahead, Telecom Italia S.P.A. remains optimistic about its financial outlook, reaffirming its guidance for the year and expecting to meet its deleverage targets. The management anticipates continued growth and stability across its core markets, driven by strategic initiatives and operational efficiencies.