Financials Telecom Italia S.p.A.

Equities

Real-time Borsa Italiana Other stock markets 16:28:17 17/09/2024 BST			5-day change	1st Jan Change
0.2497 ^EUR	+0.12%		+8.05%	-15.13%

01:20pm	Positive with banks, Nexi rebounds, weak Ferragamo	RE
11:54am	Listings in green; ZEW Germany slumps September	AN

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	17,974	15,805	15,316	15,788	16,296	14,582	14,708	15,056
Change	-	-12.07%	-3.09%	3.08%	3.22%	-10.52%	0.86%	2.37%
EBITDA ¹	8,151	6,739	5,080	5,347	5,710	4,146	4,444	4,590
Change	-	-17.32%	-24.62%	5.26%	6.79%	-27.4%	7.2%	3.27%
EBIT ¹	3,175	2,104	-3,529	606	836	1,682	1,499	1,480
Change	-	-33.73%	-	-	37.95%	101.21%	-10.89%	-1.28%
Interest Paid ¹	-1,436	-1,179	-1,150	-1,321	-1,740	-1,134	-1,101	-1,114
Earnings before Tax (EBT) ¹	1,739	1,397	-4,515	-588	-880	237	330.6	734.7
Change	-	-19.67%	-	-86.98%	49.66%	-	39.51%	122.21%
Net income ¹	916	7,224	-8,652	-2,925	-1,441	-72.05	-190	68
Change	-	688.65%	-	-66.19%	-50.74%	95%	-163.69%	-
Announcement Date	10/03/20	24/02/21	02/03/22	15/03/23	06/03/24	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2019 Q2	2019 Q3	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2
Net sales ¹	4,523	4,429	4,551	3,964	3,795	3,898	4,148	3,752	3,815	3,836	3,976	3,644	3,913	3,972	4,259	3,847	3,999	4,107	4,343	3,930	4,023
Change	-	-2.08%	2.75%	-12.9%	-4.26%	2.71%	6.41%	-9.55%	1.68%	0.55%	3.65%	-8.35%	7.38%	1.51%	7.23%	-9.67%	3.95%	2.7%	5.75%	-9.51%	2.37%
EBITDA	2,273	2,108	1,652	1,774	1,663	1,720	1,621	1,578	1,593	1,624	731	1,316	1,342	1,287	1,402	1,039	1,641	1,547	-	-	-
Change	-	-7.26%	-21.63%	7.38%	-6.26%	3.43%	-5.76%	-2.65%	0.95%	1.95%	-54.99%	80.03%	1.98%	-4.1%	8.94%	-25.89%	57.94%	-5.73%	-100%	-	-
EBIT	1,186	825	463	-	-	585	-	-	456	484	-4,469	209	-	41	-	-	-	-	-	-	-
Change	-	-30.44%	-43.88%	-100%	-	-	-100%	-	-	6.14%	-	-	-100%	-	-100%	-	-	-	-	-	-
Charge d'intérêts	-	-366	-317	-	-	-	-	-288	-	-	-	-	-	-	-	-371	-	-	-	-	-
Earnings before Tax (EBT)	-	459	148	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-67.76%	-100%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	399	301	64	-	118	500	6,046	-216	100	159	-8,642	-204	-279	-2,245	-	-689	-124	-311	-	-	-
Change	-	-24.56%	-78.74%	-100%	-	323.73%	1,109.2%	-	-	59%	-	-97.64%	36.76%	704.66%	-100%	-	-82%	150.81%	-100%	-	-
Announcement Date	01/08/19	08/11/19	10/03/20	18/05/20	04/08/20	10/11/20	24/02/21	20/05/21	27/07/21	28/10/21	02/03/22	04/05/22	03/08/22	10/11/22	15/03/23	10/05/23	02/08/23	08/11/23	06/03/24	29/05/24	01/08/24

¹EUR in Million

Estimates

Fiscal Period: December	2020 S1	2021 S1	2022 S1	2023 S1	2024 S1
Net sales ¹	7,759	7,567	7,557	7,846	7,953
Change	-	-2.47%	-0.13%	3.82%	1.36%
EBITDA ¹	3,398	2,770	-	2,680	2,999
Change	-	-18.48%	-100%	-	11.9%
EBIT	-	501	-	-	-
Change	-	-	-100%	-	-
Charge d'intérêts ¹	-	-	-	-	-887
Earnings before Tax (EBT)	-	-	-	-	-
Change	-	-	-	-	-
Net income	678	-137	-483	-813	-
Change	-	-	252.55%	68.32%	-100%
Announcement Date	04/08/20	27/07/21	03/08/22	02/08/23	01/08/24

¹EUR in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	29,865	23,326	22,187	25,364	25,656	8,700	8,818	8,529
Change	-	-21.9%	-4.88%	14.32%	1.15%	-66.09%	1.36%	-3.28%
Announcement Date	10/03/20	24/02/21	02/03/22	15/03/23	06/03/24	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	3,649	3,409	4,630	3,979	3,982	2,926	2,619	2,591
Change	-	-6.58%	35.82%	-14.06%	0.08%	-26.52%	-10.48%	-1.06%
Free Cash Flow (FCF) ¹	2,301	3,074	323	-1,410	-38	-574.8	-153	461.9
Change	-	33.59%	-89.49%	-536.53%	-97.3%	1,412.63%	-73.38%	-401.9%
Announcement Date	10/03/20	24/02/21	02/03/22	15/03/23	06/03/24	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	45.35%	42.64%	33.17%	33.87%	35.04%	28.43%	30.22%	30.48%
EBIT Margin (%)	17.66%	13.31%	-23.04%	3.84%	5.13%	11.54%	10.19%	9.83%
EBT Margin (%)	9.68%	8.84%	-29.48%	-3.72%	-5.4%	1.63%	2.25%	4.88%
Net margin (%)	5.1%	45.71%	-56.49%	-18.53%	-8.84%	-0.49%	-1.29%	0.45%
FCF margin (%)	12.8%	19.45%	2.11%	-8.93%	-0.23%	-3.94%	-1.04%	3.07%
FCF / Net Income (%)	251.2%	42.55%	-3.73%	48.21%	2.64%	797.78%	80.53%	679.26%
Profitability
ROA	1.56%	10.08%	-12.15%	-4.46%	-2.32%	-0.38%	-0.26%	0.61%
ROE	5.34%	31.07%	-39.66%	-3.01%	-5.37%	-0.95%	-1.88%	1.24%
Financial Health
Leverage (Debt/EBITDA)	3.66x	3.46x	4.37x	4.74x	4.49x	2.1x	1.98x	1.86x
Debt / Free cash flow	12.98x	7.59x	68.69x	-17.99x	-675.16x	-15.13x	-57.63x	18.47x
Capital Intensity
CAPEX / Current Assets (%)	20.3%	21.57%	30.23%	25.2%	24.44%	20.06%	17.81%	17.21%
CAPEX / EBITDA (%)	44.77%	50.59%	91.14%	74.42%	69.74%	70.57%	58.93%	56.46%
CAPEX / FCF (%)	158.58%	110.9%	1,433.44%	-282.2%	-10,478.95%	-509.01%	-1,711.9%	561.04%
Items per share
Cash flow per share ¹	0.2817	0.31	0.2045	0.2304	0.1856	-	-	-
Change	-	10.06%	-34.04%	12.68%	-19.44%	-	-	-
Dividend per Share ¹	0.01	0.01	-	-	-	-	0.00333	0.006
Change	-	0%	-	-	-	-	-	80.18%
Book Value Per Share ¹	0.9626	1.24	1.145	0.709	0.6422	0.5728	0.5674	0.5697
Change	-	28.81%	-7.69%	-38.06%	-9.42%	-10.8%	-0.95%	0.4%
EPS ¹	0.04	0.33	-0.4	-0.14	-0.07	-0.002	-0.0135	0.0035
Change	-	725%	-221.21%	-65%	-50%	-97.14%	575%	-125.93%
Nbr of stocks (in thousands)	21,067,160	21,195,996	21,202,712	21,241,316	21,252,196	21,252,196	21,252,196	21,252,196
Announcement Date	10/03/20	24/02/21	02/03/22	15/03/23	06/03/24	-	-	-