Telecom Italia Balance Sheet

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	2,054	2,048	2,924	2,912	3,555	6,904
Short-Term Investments	1,418	815	1,116	1,516	1,040	1,515
Trading Asset Securities	-	654	530	540	537	855
Cash & Short-Term Investments	3,472	3,517	4,570	4,968	5,132	9,274
Cash Growth	-8.27%	-23.04%	-8.01%	-3.20%	-44.66%	52.84%
Accounts Receivable	5,690	2,466	2,381	3,137	2,960	2,751
Other Receivables	217	1,987	868	1,123	577	610
Receivables	5,907	4,453	3,249	4,260	3,537	3,361
Inventory	273	235	297	345	322	282
Other Current Assets	1,169	2,293	1,070	1,307	1,241	1,153
Total Current Assets	10,821	10,498	9,186	10,880	10,232	14,070
Property, Plant & Equipment	7,571	7,354	8,027	20,207	19,588	18,158
Long-Term Investments	381	749	1,050	1,740	2,209	5,170
Goodwill	11,111	11,025	11,030	19,170	19,111	18,568
Other Intangible Assets	5,446	5,445	6,011	7,122	7,656	7,147
Long-Term Accounts Receivable	36	34	40	112	49	45
Long-Term Deferred Tax Assets	523	510	513	701	769	3,513
Long-Term Deferred Charges	-	638	1,249	1,797	1,805	1,833
Other Long-Term Assets	1,579	481	557	430	608	683
Total Assets	37,468	36,734	37,663	62,159	62,027	69,187
Accounts Payable	7,287	4,483	4,351	5,441	5,295	5,161
Accrued Expenses	-	1,211	1,157	1,416	1,180	895
Current Portion of Long-Term Debt	2,646	3,027	3,870	5,771	5,039	5,945
Current Portion of Leases	532	515	523	838	870	651
Current Income Taxes Payable	51	63	44	27	34	295
Current Unearned Revenue	-	856	910	879	899	823
Other Current Liabilities	543	1,363	656	1,648	825	2,594
Total Current Liabilities	11,059	11,518	11,511	16,020	14,142	16,364
Long-Term Debt	8,819	7,991	8,728	21,284	21,739	23,437
Long-Term Leases	2,639	2,476	2,421	4,743	4,597	4,064
Long-Term Unearned Revenue	-	317	503	707	688	723
Pension & Post-Retirement Benefits	354	188	200	511	684	699
Long-Term Deferred Tax Liabilities	52	55	61	83	84	245
Other Long-Term Liabilities	1,072	734	878	1,298	1,368	1,616
Total Liabilities	23,995	23,279	24,302	44,646	43,302	47,148
Common Stock	11,639	11,677	11,677	11,677	11,677	11,677
Additional Paid-In Capital	-	-	-	575	2,133	2,133
Retained Earnings	-	-	-	-1,441	-2,925	-8,652
Treasury Stock	-	-49	-53	-57	-63	-63
Comprehensive Income & Other	479	591	333	2,892	4,239	12,319
Total Common Equity	12,118	12,219	11,957	13,646	15,061	17,414
Minority Interest	1,355	1,236	1,404	3,867	3,664	4,625
Shareholders' Equity	13,473	13,455	13,361	17,513	18,725	22,039
Total Liabilities & Equity	37,468	36,734	37,663	62,159	62,027	69,187
Total Debt	14,636	14,009	15,542	32,636	32,245	34,097
Net Cash (Debt)	-11,164	-10,492	-10,972	-27,668	-27,113	-24,823
Net Cash Per Share	-	-0.49	-0.52	-1.30	-1.28	-1.17
Filing Date Shares Outstanding	-	21,268	21,261	21,252	21,241	21,241
Total Common Shares Outstanding	-	21,268	21,261	21,252	21,241	21,241
Working Capital	-238	-1,020	-2,325	-5,140	-3,910	-2,294
Book Value Per Share	-	0.57	0.56	0.64	0.71	0.82
Tangible Book Value	-4,439	-4,251	-5,084	-12,646	-11,706	-8,301
Tangible Book Value Per Share	-	-0.20	-0.24	-0.60	-0.55	-0.39
Land	-	47	46	229	232	232
Buildings	-	393	440	2,053	2,051	1,960
Machinery	-	20,839	21,715	76,604	74,149	70,852
Construction In Progress	-	373	486	1,051	833	842

Source: S&P Global Market Intelligence. Standard template. Financial Sources.