TI Telecom Italia S.P.A. New

By Manuela Mesco 

MILAN--Italy's largest telecommunications company, Telecom Italia, said Thursday its net profit in the first nine months of the year fell 63% to 362 million euros ($395.3 million), reflecting nonrecurring charges and the impact of bond buyback transactions.

The company said that without such items, net profit would have risen to more than EUR1 billion from the EUR985 million in the first nine months of 2014.

Revenue totaled EUR14.9 billion, down 6.9% from the same period last year. Revenue in Italy, which accounts for nearly 75% of the company's overall turnover, was down 1.8% from the previous year.

But an improvement was seen in the third quarter, when sales from Telecom Italia's mobile business rose 1.5% on the year. Yet, revenue from the fixed-line business was 1.8% down from the third quarter of last year.

None-months earnings before interest, tax, depreciation and amortization stood at EUR5.6 billion, 14.8% lower than the same time the previous year. Before discounting the impact of nonrecurring charges Ebitda was EUR6.1 billion. Earnings before interest and taxes was EUR2.8 billion, down 17.5% from the first nine months of 2014.

Net debt at Sept. 30 was EUR26.8 billion.

Write to Manuela Mesco at manuela.mesco@wsj.com

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(END) Dow Jones Newswires

November 05, 2015 17:46 ET (22:46 GMT)

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