Friday, February 8, 2013
Telecom Italia Forecasts Flat 2013
Telecom Italia said its group revenues fell 2.5% year-on-year on an organic basis to 7.46 billion euros in the fourth quarter after growing 1.6% in the previous nine months. Growth in Argentina and Brazil failed to offset a 9% fall in revenues in Italy.
The group said its target is for flat revenues in 2013, after growth of 0.5% in 2012. By 2015, Telecom Italia is aiming for low single digit average annual growth in revenues. The Rome-based company is planning to spend 16 billion euros on capex across 2013, 2014 and 2015, compared with 5.2 billion euros in 2012. source: Telecom Italia presentations and statements
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