Telecom Italia (TI) has reported consolidated revenues of EUR7.392 billion (USD9.586 billion) for the three months ended 31 March 2012, up 4.5% from the EUR7.073 billion reported in 1Q11. Of the total, EUR4.486 billion was derived from TI’s domestic interests, down 2.4% year-on-year. Revenues generated by the group’s Brazilian asset TIM Participacoes (TIM Brasil) increased 17.1% to EUR1.928 billion, while Telecom Argentina weighed in with revenues of EUR901 million, an improvement of 19.7%. Meanwhile, EBITDA for Q1 2012 was EUR2.963 billion, up 1.2% y-o-y, with TI posting net income of EUR606 million for the quarter, an increase of 10.4%.
Franco Bernabe, CEO of Telecom Italia, said: ‘Despite the complex economic context, the domestic market reported significant signs of recovery in revenue trends in the first quarter, sustaining margins of around 50%. The excellent performance of Latin America continues; over the quarter Brazil and Argentina contributed 38% of the group’s turnover and 27% of EBITDA, with a margin of over 40%. These results, together with increasing cash generation, mainly in the second half, allow us to confirm all our targets for year-end 2012.’