Telecom Italia’s logo is seen at the headquarters in Rozzano neighbourhood of Milan, Italy, May 25, 2016. REUTERS/Stefano Rellandini MILAN, Feb 14 (Reuters) – Telecom Italia (TIM) (TLIT.MI) said on Tuesday it sees core profit returning to grow this year by a "mid single-digit" percentage thanks to signs of improvement in its battered home business which cushioned a decline of income in 2022. In setting new financial targets, TIM confirmed its turnaround strategy, centred on a reorganisation into several units in order to sell assets and cut its debt pile. "Thanks to the better-than-expected results recorded in 2022, the plan envisages further acceleration at group level," it said in a statement, forecasting "low single digit" growth in 2023 in group revenues from services. Its domestic business is back to growth in 2023 after six years, TIM said. Italy’s biggest phone group reported a 10.6% drop in earnings before interest, tax, depreciation and amortisation (EBITDA) including lease costs to 5 billion euros for 2022. That compares with a "low-teens" decrease targeted by TIM and was in line with an average forecast in a company-provided consensus. Group service revenue rose 1.3% to 14.6 billion euros, exceeding analyst expectations for a rise […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
