TI FY revenues drop 1.5% to EUR29.5 million

Telecom Italia (TI) has reported consolidated revenues of EUR29.5 billion (USD39.8 billion) for the twelve months ended 31 December 2012, down 1.5% year-on-year, on an organic basis. Of the total, EUR16.9 billion was derived from TI’s ‘core domestic interests’, down 6.4% y-o-y. Revenues generated by the group’s Brazilian asset TIM Participacoes (TIM Brasil) increased 1.8% to EUR7.5 billion, while Telecom Argentina weighed in with sales of EUR3.8 million, an improvement of 17.5%. Meanwhile, EBITDA for 2012 was EUR11.7 billion, down 4.2% y-o-y. CAPEX for the period under review amounted to EUR5.2 billion, down EUR899 million compared to the year-ago period.