This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements appear in a number of places in this presentation and include statements regarding the intent, belief or current expectations of the customer base, estimates regarding future growth in the different business lines and the global business, market share, financial results and other aspects of the activities and situation relating to the Company .
Such forward looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those in the forward looking statements as a result of various factors.
Analysts are cautioned not to place undue reliance on those forward looking statements, which speak only as of the date of this press release. Telecom Italia Spa undertakes no obligation to release publicly the results of any revisions to these forward looking statements which may be made to reflect events and circumstances after the date of this presentation, including, without limitation, changes in Telecom Italia Spa business or acquisition strategy or to reflect the occurrence of unanticipated events. Analysts and investors are encouraged to consult the Company´s Annual Report on Form 20-F as well as periodic filings made on Form 6-K, which are on file with the United States Securities and Exchange Commission.
5.2 million broadband accesses and 9 million
innovative telephone devices expected by 2006
Riccardo Ruggiero, CEO of Telecom Italia, today presents the 2004-2006 strategic objectives for the Telecom Italia Wireline Business Unit.
In accordance with the updated strategic objectives, revenues are forecast to post average annual growth in excess of 1%.
Gross operating profit is expected to register annual average growth in excess of 2%. As a proportion of consolidated revenues, in 2006 gross operating profit will equal approximately 49%.
Operating income growth over the three-year period 2004-2006 is forecast to exceed 4.5%.
Aggregate investment by Telecom Italia Wireline during the 2004-2006 period is expected to equal 6,300 million euros, of which 400 million euros outside Italy.
Major operating targets include expansion of the broadband portfolio, which by the end of 2006 is expected to include 5.2 million accesses – against the previous target of 3.5 million accesses by 2005 – and for the take-up of innovative telephone devices to boost the total in circulation to 9 million by the end of 2006.