Telecom Italia 2Q25 results/Cash generation disappoints, so far

Telecom Italia[e] reported good underlying results, however, we were disappointed by the results on a reported basis as well as by cash flow generation. Based on provided guidance, financials will improve. Nevertheless, we doubt Telecom Italia will be investment grade rated in the near future.

Telecom Italia Spa: 2 directors

Two Directors at Telecom Italia Spa sold 1,241,280 shares at between 0.421EUR and 0.426EUR. The significance rating of the trade was 89/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over ...

WOOD Morning (7 August 2025)

HEADLINES: • Bank Pekao: strong 2Q25 delivery reaffirms our FY25E net profit forecast of c. PLN 7bn, still ahead of the market consensus NEUTRAL • Magyar Telekom: 2Q25 results review – EBITDA up 13% yoy, 3% above the consensus; 2025E guidance upgraded POSITIVE • Akcansa: weak 2Q25 financial results, with signs of recovery NEGATIVE • Teknosa: 2Q25 results – recovery in the operating performance overshadowed by losses on the bottom line NEUTRAL • Brisa: 2Q25 results in line, very much like 1Q25 NE...

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Telecom Italia, Iceland Foods, Nomad Foods (Iglo), Asmodee, Encore Capital (formerly Cabot)

WOOD Flash – OTE: 2Q25 results review – adjusted EBITDA 1% up yoy, in ...

OTE has reported an uninspiring set of 2Q25 results, with sales flat yoy, at EUR 913m (in line with our forecast) and the adjusted EBITDA up 1% yoy, to EUR 349m (in line with our estimate), due to Greek segment expansion offsetting the 67% yoy decline in the Romanian segment operating result. We see OTE’s 2Q25 results as neutral, as the adjusted EBITDA was in line with our expectations, while the company reiterated its 2025E outlook. The miss on the bottom line was driven primarily by the write-...

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 06/08/2025

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 08/06/2025

OTE (Neutral, TP: €16, +0%) Q2 25: Mixed results, but Romania sale me...

OTE has reported a mixed set of results; Greek MSR trends are much better sequentially and FSR growth is also a bit better, but EBITDA growth is actually slower sequentially due to elevated sales and marketing costs, which may be a warning sign of the future impact from PPC in the fixed market.

OTE (Hellenic Telecoms) | First thoughts: tepid group Q2 weighed down ...

Q2 group EBITDAaL +0.6% yoy, a bit softer than expected due to Romania (RO); GR growth in sync with FY25 guidance – Q2 group adj. numbers look a tad below our forecasts, with the underlying pattern remaining largely unchanged: strong mobile (service rev. +3.2%), tepid but positive retail fixed (+0.6%), and RO weighing on group metrics (EBITDAaL loss €4.6m). Overall, group sales rose 0.3% yoy to €913m, with GR +1.1%. GR EBITDAaL advanced 2% to €333m, in sync with mgt FY guidance, while group EBIT...

OTE (Hellenic Telecoms) | First thoughts: tepid group Q2 weighed down ...

Q2 group EBITDAaL +0.6% yoy, a bit softer than expected due to Romania (RO); GR growth in sync with FY25 guidance – Q2 group adj. numbers look a tad below our forecasts, with the underlying pattern remaining largely unchanged: strong mobile (service rev. +3.2%), tepid but positive retail fixed (+0.6%), and RO weighing on group metrics (EBITDAaL loss €4.6m). Overall, group sales rose 0.3% yoy to €913m, with GR +1.1%. GR EBITDAaL advanced 2% to €333m, in sync with mgt FY guidance, while group EBIT...

Telecom Italia : Q2 2025: cost savings in H1, price hikes in H2

Telecom Italia : Q2 2025: cost savings in H1, price hikes in H2

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: SIG plc, Sappi, Multiversity, Almaviva, Engineering Group, Telecom Italia, Synthomer, TK Elevator, Encore Capital (formerly Cabot), Ardagh

Telecom Italia (Neutral, €0.36, -12%) Q2 25 - Rational Italian pricing...

Telecom Italia has reported solid Q2 results, supported by continued Enterprise strength. The company has also confirmed an orderly CFO transition process previously suggested in the press.

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Altice France (SFR), Zegona, Urbaser, Telecom Italia, TalkTalk, Nemak, Tata Motors, Tereos, Grupo Antolin, Rexel, Iceland Foods

Credit Morning 07/25/2025

ELO: overview of H1 results and further details on the new financing structure|Takeover rumours around JD.com and Ceconomy become (more) concrete|Nexity reassures in H1 2025 with numerous positive signs, even though business remains weak|Entry into exclusive negotiations for the joint acquisition of the Milleis Group|

Morning Crédit 25/07/2025

ELO : commentaires résultats S1 et précisions sur la nouvelle structure de financement|Takeover rumours around JD.com and Ceconomy become (more) concrete|Nexity rassure au S1 2025 avec de nombreux signaux positifs, même si l’activité reste faible|Entrée en négociations exclusives en vue de l’acquisition conjointe du Groupe Milleis|

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Victoria, Nokia, Telecom Italia, Intrum, CEMEX, Liberty Global, Ineos, Cirsa, Ardagh Metal Beverage Packaging, OPmobility, Rexel, TUI

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Telecom Italia, Nokia, Vallourec, CEMEX, Sasol, Techem, Stada, Allwyn (formerly Sazka), Crown Holdings, Ardagh Metal Beverage Packaging

WOOD Daily: TBCG LN; KRKG SV; GEKTERNA GA; DOC AV; HTO GA

HEADLINES: • TBC Bank: good run, approaching fair value (downgraded to HOLD) • Krka: preliminary 2Q25 numbers – a mixed bag NEUTRAL • GEK Terna: 50/50 JV with Motor Oil Hellas over their electricity supply and gas-fired power generation activities POSITIVE • DO & CO: EUR 2.00/share dividend approved, in line with our estimate NEUTRAL • OTE: 2Q25E results preview – 2% yoy adjusted EBITDA growth expected (due on 6 August)