ROME (dpa-AFX) - Italian telecom giant Telecom Italia (TIAOF.PK, TI) said that it expects 2018 Organic EBITDA of the Domestic Business Unit to be mid-single digit lower than the previous year.
Supported by the improved performace of the Brazil Business Unit, the overall consolidated organic EBITDA is expected to be approximately 8.1 billion euros for fiscal year 2018. The trend of the Group organic revenues is confirmed. Adjusted consolidated net financial debt is expected to be about 25.2 billion euros, after the payment of 513 million euros for licences.
The company stated that its board also discussed the preliminary 2019 budget. The initial outlook of the Domestic Business Unit shows an operating performance that reflects the competitive dynamics that impacted 2018 and are expected to influence also 2019, especially the first semester.
The company noted that 2019-2021 Plan will be presented for approval to the Board of Directors on 21 February next, together with the fiscal year 2018 Financial Statements.
Copyright RTT News/dpa-AFX