Financials Telecom Italia S.p.A.

Equities

TIT

IT0003497168

Integrated Telecommunications Services

Market Closed - Borsa Italiana Other stock markets 16:45:00 24/06/2025 BST			5-day change	1st Jan Change
0.4027 ^EUR	0.00%		+3.63%	+63.30%

06-24	Tim Shareholders Approve Expansion of Corporate Purpose, Reject Board Size Reduction	RE
06-24	TIM does not approve reduction in maximum number of board members	AN

Projected Income Statement: Telecom Italia S.p.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	15,805	15,316	15,788	16,296	14,442	13,820	14,211	14,559
Change	-	-3.09%	3.08%	3.22%	-11.38%	-4.31%	2.84%	2.45%
EBITDA ¹	6,739	5,080	5,347	5,710	4,825	4,135	4,482	4,607
Change	-	-24.62%	5.26%	6.79%	-15.5%	-14.29%	8.38%	2.78%
EBIT ¹	2,104	-3,529	606	836	1,545	1,309	1,824	1,952
Change	-	-267.73%	117.17%	37.95%	84.81%	-15.27%	39.34%	7%
Interest Paid ¹	-1,179	-1,150	-1,321	-1,740	-1,343	-829.1	-711.4	-690.7
Earnings before Tax (EBT) ¹	1,397	-4,515	-588	-880	257	457	1,053	1,174
Change	-	-423.19%	86.98%	-49.66%	129.2%	77.82%	130.48%	11.44%
Net income ¹	7,224	-8,652	-2,925	-1,441	-610	-68.78	356.7	449.7
Change	-	-219.77%	66.19%	50.74%	57.67%	88.72%	618.56%	26.08%
Announcement Date	24/02/21	02/03/22	15/03/23	06/03/24	05/03/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	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	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	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	3,569	2,920	3,276
Change	-	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%	-11.29%	-18.18%	12.19%
EBITDA ¹	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	-	-	-	1,111	1,575	941
Change	-	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%	-	-	-	-	41.76%	-40.25%
EBIT	-	585	-	-	456	484	-4,469	209	-	41	-	-	-	-	-	-	-	329	-	-
Change	-	-	-	-	-	6.14%	-1,023.35%	104.68%	-	-	-	-	-	-	-	-	-	-	-	-
Charge d'intérêts ¹	-	-	-	-288	-	-	-	-	-	-	-	-371	-	-	-	-	-	-279	-252	-273
Earnings before Tax (EBT) ¹	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	53	-	-71
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income ¹	118	500	6,046	-216	100	159	-8,642	-204	-279	-2,245	-	-689	-124	-311	-	-	-	137	-	-124
Change	-	323.73%	1,109.2%	-103.57%	146.3%	59%	-5,535.22%	97.64%	-36.76%	-704.66%	-	-	82%	-150.81%	-	-	-	-	-	-
Announcement Date	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	13/11/24	05/03/25	07/05/25

¹EUR in Million

Estimates

Fiscal Period: December	2021 S1	2022 S1	2023 S1	2024 S1	2024 S2
Net sales ¹	7,567	7,557	7,846	7,953	6,489
Change	-	-0.13%	3.82%	1.36%	-18.41%
EBITDA	2,770	-	2,680	2,999	-
Change	-	-	-	11.9%	-
EBIT	501	-	-	-	-
Change	-	-	-	-	-
Charge d'intérêts	-	-	-	-812	-
Earnings before Tax (EBT)	-	-	-	-	-
Change	-	-	-	-	-
Net income	-137	-483	-813	-	-
Change	-	-252.55%	-68.32%	-	-
Announcement Date	27/07/21	03/08/22	02/08/23	01/08/24	05/03/25

¹EUR in Million

Estimates

Forecast Balance Sheet: Telecom Italia S.p.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	23,326	22,187	25,364	25,656	10,126	8,699	8,719	8,407
Change	-	-4.88%	14.32%	1.15%	-60.53%	-14.09%	0.23%	-3.58%
Announcement Date	24/02/21	02/03/22	15/03/23	06/03/24	05/03/25	-	-	-

¹EUR in Million

Estimates

Cash Flow Forecast: Telecom Italia S.p.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	3,409	4,630	3,979	3,982	1,954	1,973	1,933	1,931
Change	-	35.82%	-14.06%	0.08%	-50.93%	0.96%	-2.01%	-0.09%
Free Cash Flow (FCF) ¹	3,074	323	-1,410	-38	1,297	541.2	1,071	1,181
Change	-	-89.49%	-536.53%	97.3%	3,513.16%	-58.28%	97.98%	10.24%
Announcement Date	24/02/21	02/03/22	15/03/23	06/03/24	05/03/25	-	-	-

¹EUR in Million

Estimates

Forecast Financial Ratios: Telecom Italia S.p.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	42.64%	33.17%	33.87%	35.04%	33.41%	29.92%	31.54%	31.64%
EBIT Margin (%)	13.31%	-23.04%	3.84%	5.13%	10.7%	9.47%	12.84%	13.41%
EBT Margin (%)	8.84%	-29.48%	-3.72%	-5.4%	1.78%	3.31%	7.41%	8.06%
Net margin (%)	45.71%	-56.49%	-18.53%	-8.84%	-4.22%	-0.5%	2.51%	3.09%
FCF margin (%)	19.45%	2.11%	-8.93%	-0.23%	8.98%	3.92%	7.54%	8.11%
FCF / Net Income (%)	42.55%	-3.73%	48.21%	2.64%	-212.62%	-786.8%	300.38%	262.65%
Profitability
ROA	10.08%	-12.15%	-4.46%	-2.32%	-1.22%	-0.29%	0.98%	2.03%
ROE	31.07%	-39.66%	-3.01%	-5.37%	-4.67%	-1.19%	3.11%	3.35%
Financial Health
Leverage (Debt/EBITDA)	3.46x	4.37x	4.74x	4.49x	2.1x	2.1x	1.95x	1.82x
Debt / Free cash flow	7.59x	68.69x	-17.99x	-675.16x	7.81x	16.08x	8.14x	7.12x
Capital Intensity
CAPEX / Current Assets (%)	21.57%	30.23%	25.2%	24.44%	13.53%	14.27%	13.6%	13.27%
CAPEX / EBITDA (%)	50.59%	91.14%	74.42%	69.74%	40.5%	47.7%	43.13%	41.93%
CAPEX / FCF (%)	110.9%	1,433.44%	-282.2%	-10,478.95%	150.66%	364.54%	180.44%	163.54%
Items per share
Cash flow per share ¹	0.31	0.2045	0.2304	0.1856	0.1529	0.13	0.1039	0.1206
Change	-	-34.04%	12.68%	-19.44%	-17.62%	-14.96%	-20.06%	16.03%
Dividend per Share ¹	0.01	-	-	-	-	0.00801	0.0118	0.0224
Change	-	-	-	-	-	-	47.82%	89.1%
Book Value Per Share ¹	1.24	1.145	0.709	0.6422	0.5624	0.5805	0.7235	0.7285
Change	-	-7.69%	-38.06%	-9.42%	-12.43%	3.22%	24.64%	0.69%
EPS ¹	0.33	-0.4	-0.14	-0.07	-0.03	-0.00449	0.0108	0.0235
Change	-	-221.21%	65%	50%	57.14%	85.03%	340.53%	117.87%
Nbr of stocks (in thousands)	21,195,996	21,202,712	21,241,316	21,252,196	21,252,196	21,260,815	21,260,815	21,260,815
Announcement Date	24/02/21	02/03/22	15/03/23	06/03/24	05/03/25	-	-	-