Report
Stephane Beyazian

Telecom Italia : Q4 2023: return to growth thanks to price hikes

>Record EBITDAal growth (although expected) - For Q4 2023, Telecom Italia reported services revenues up 3% at € 3,971m (in line with the consensus) and EBITDAal showing sharp growth of 9% at € 1,327m (1% above the consensus). For full-year 2023, FCF remained negative at -€ 64m vs -€ 26m in 2022, despite the funds received from the government for the deployment of fibreoptic at € 758m, enabling positive FCF for Q4 2023. Investments were stable at € 4bn in 2023. §...
Underlying
Telecom Italia S.p.A.

Telecom Italia is a telecommunications group based in Italy. Co. is engaged in the communications sector and, particularly, the fixed and mobile national and international telecommunications sector, the television sector and the office products sector. Co. operates mainly in Europe, South America and the Mediterranean Basin. Co.'s operations are organized along two operating segments: Domestic - Italy (providing telephone and data services on fixed-line and mobile networks for final customers (retail) and other operators (wholesale)); and Brazil (operates in the mobile phone, fixed telephony, in long-distance and data transmission markets in Brazil).

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Stephane Beyazian

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