Earnings abroad of Italy, before interest, taxes, depreciation and amortization were 12.3 billion euros, compared with 11.4 billion euros a year earlier. Revenue climbed 8.7 percent to 29.96 billion euros.
Telecom Italia’s Brazilian unit Tim Participacoes SA (TIMP3) in July agreed to buy AES Atimus Group to add network capacity in Sao Paulo and Rio de Janeiro. Tim, which surpassed billionaire Carlos Slim’s America Movil SAB in July to become Brazil’s second-largest wireless operator, said Feb. 16 that fourth-quarter net revenue grew 19 percent and Ebitda rose 8.7 percent. Telecom Italia also controls Telecom Argentina SA (TECO2), the country’s second-largest phone company.
Telecom Italia declined 2.4 percent this year before today to 81.2 euro cents in Milan trading, compared with an 8.1 percent gain in the benchmark FTSE MIB Index.
Telecom Italia said full-year profit before some items climbed 7.3 percent, helped by growth in Latin America, and forecast “broadly stable” earnings and revenue this year.