Italy · Delayed Price · Currency is EUR Telecom Italia Earnings Call Transcripts
Fiscal Year 2026
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Revenue and EBITDA after lease grew year-on-year, with strong execution across all segments and disciplined capital allocation. Guidance for 2026 and 2027 is confirmed, supported by prudent assumptions and robust cash flow, while risks from energy costs and wholesale service quality are actively managed.
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Q1 2026 results met expectations, with group revenues up 1.4% and underlying EBITDA growth of 4.1% excluding MVNO effects. Guidance is confirmed, with H2 expected to see EBITDA acceleration as MVNO headwinds fade and AI-driven efficiencies scale.
Fiscal Year 2025
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Delivered strong 2025 results with revenue and EBITDA growth, robust cash flow, and reduced leverage. 2026 guidance is confirmed, with continued focus on operational discipline, value-based strategy, and digital sovereignty. Capital structure overhaul and legal resolution enhance financial flexibility.
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Solid Q3 and nine-month results with revenue and EBITDA growth, stable net debt, and guidance confirmed. Strategic partnership with Poste and sector consolidation initiatives are advancing, while transformation and cost discipline drive profitability.
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Solid H1 performance with revenue and EBITDA growth, positive cash flow in Q2, and leverage below 2.1x. Full-year guidance is confirmed, with further EBITDA acceleration expected in H2, driven by price increases, cost savings, and strong enterprise and Brazil results.
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Q1 saw revenue and EBITDA growth, strong execution, and confirmation of full-year guidance. Poste Italiane's entry as largest shareholder opens new partnership opportunities, while cloud services now lead enterprise growth. Leverage remains low, and Sparkle disposal is on track for Q4.
Fiscal Year 2024
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2024 marked a transformational year with major disposals, deleveraging, and restored financial flexibility. Revenue and EBITDA grew, guidance was met, and shareholder remuneration reinstated. Outlook through 2027 projects continued growth, strong cash generation, and further deleveraging.
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Group revenues and EBITDA after leases grew strongly year-over-year, with net debt reduced and operational efficiency gains across both domestic and Brazilian segments. The company confirmed full-year guidance, expects further debt reduction, and is leveraging growth in enterprise IT and cloud contracts.
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NetCo disposal drove major deleverage, credit rating upgrades, and a leaner capital structure. H1 2024 saw robust revenue and EBITDA growth, with strong performance in Brazil and Enterprise, and full-year guidance confirmed. Liquidity and leverage targets are on track.