Telecom Italia Swings to Loss for Year
March 17 2016 - 3:51PM
Dow Jones News
By Manuela Mesco
MILAN--Italy's Telecom Italia SpA said Thursday that it swung to
a net loss last year, due to several nonrecurring charges.
The company said that without such charges, it would have posted
a net profit of about 1.4 billion euros ($1.58 billion), compared
with EUR1.35 billion net profit in 2014.
Net loss stood at EUR72 million.
Earning before interest and tax, or Ebit, fell 33% to EUR3
billion, the company added.
The telecom operator, which has called its annual shareholders'
meeting for May 25, said its board proposed a dividend of EUR2.75
cents a saving share, which amounts to about EUR166 million.
Write to Manuela Mesco at manuela.mesco@wsj.com
(END) Dow Jones Newswires
March 17, 2016 15:36 ET (19:36 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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