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Third Quarter 2009 Financial Results

11/05/2009 - 06:00 AM

On Thursday, November 5, 2009, a conference call took place to review the Telecom Italia Group's financial results for the first nine months of 2009, approved by the Board of Directors.

Revenues: €20,188 million, -6.2% compared to the first nine months of 2008; -4.4% organic variation

Ebitda: €8,526 million, +1.5% compared to the first nine months of 2008, -0.4% organic variation

Organic ebitda: €8,614 million (-0.4% in organic terms compared with the same period the previous year)

Organic ebitda margin: 42.7% (40.9% at 30 September 2008); +1.8 pp

Net income: €1,165 million, a reduction of €578 million compared to the first nine months of 2008 mainly due to the effect of the HanseNet goodwill writedown for €540 million aimed at aligning HanseNet’s book value to its estimated sale value

Net financial debt was €35,506 million (€34,039 million at the end of 2008); compared to 30 September 2008 (€35,770 million) a fall of €264 million

Agreement in principle signed for the sale of HanseNet to Telefonica for €900 million.