(RTTNews) – TIM SpA, also known as Telecom Italia, (TIAOF. PK, TI) announced Wednesday that its second-quarter profit attributable to the parent’s shareholders plummeted by 69.4% to 118 million euros from 386 million euros last. Year.
EBIT fell 57.7% to 509 million euros, compared to 1.20 million euros last year. The EBIT margin is 13.4%, compared to 26.6% a year ago.
The Group’s EBITDA amounted to EUR 1.66 billion, 32% less than reported and 6.4% organic.
Total sales were 3.8 billion euros, 16.1% less than last year’s 4.52 billion euros. Organic income minimized across 10.1 consistent with percent. The effects were adversely affected by relief in store attendance, closure and minimisation of tourist flows to and from Italy, leading to a minimisation of the volume of roaming traffic.
Looking ahead, the corporate stressed that despite a short-term setback, a positive effect on the group’s medium- and long-term accounts is expected after the rapid adoption of virtual services.
The company expects revenue from biological facilities to be lower, in the single-digit environment, at 2020 and higher, in the lowest digit, by 2021-22.
Organic EBITDA after lease is expected to be lower, in the single-digit environment, at 2020 and higher, in the low-to-one-digit average, at 2021-2022.