Telecom Italia Swings to Profit in 2016
March 23 2017 - 1:58PM
Dow Jones News
By Manuela Mesco
MILAN--Telecom Italia said Thursday it swung back to profit last
year, posting a EUR1.8 billion net profit for 2016.
The company, which launched last year a much-needed turnaround
after years of little growth, said its operating profit grew over
25% in 2016 compared to 2015, to EUR3.7 billion.
The Italian telecom operator said the strong growth was due to
fewer nonrecurring items compared with 2015. Earning before
interest, tax, depreciation and amortization, or Ebitda, grew 14%
to EUR8 billion, the company previously said.
In 2015, the company posted a net loss of EUR70 million.
Write to Manuela Mesco at manuela.mesco@wsj.com
(END) Dow Jones Newswires
March 23, 2017 13:43 ET (17:43 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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