11/17/2011

Telecom Italia

Tim

Tim Quarter

Tim Month

Telecom Itália

Telecom Italia (TI) is the main Telecommunication Provider in Italy, privatized in 1997. In 2003 became Telecom Italia S.p.A.

 

Pirelli was TI's main shareholder until April 2007, when Olímpia, Telecom Itália's controller, was sold per 4,1 billion euros to a consortium (Telco) composed by: Telefonica (42,3%), Generali (28,2%), Mediobanca (10,7%), Inttesa (10,7) and Benetton family (8,2%). This group got 23,6% of Telecom Italia. The process was concluded in 10/25/07, after Anatel's approval in Brasil.

 

In March/08 the consortium Telco increased its participation in Telecom Italia from 23,6% to 24,5%. Mediobanca acquired 121,5 million in Telecom's shares per 149,8 million euros.

 

 

The entrance of Telefonica in Telecom Itália   As Telefonica controls Vivo, and by its entry in Telecom Italia, it could participate in Tim's control. This operation was analysed by Anatel, which approved the process in 10/23/07 under restrictions. These restrictions will be added to a new shareholding agreement to be submitted to the Anatel's approval in thirty days. Still, the process will be analysed by CADE.   Anatel's pretends that Vivo and Tim Brasil keep themselves independents, with their own legal sector, administrative board and business plan. Can not have joint venture, tenders overlay, technological trading between companies, or marketing agreements between them. Vivo and Tim will have 6 months to hand Anatel a proposal ensuring decoupling between them.   With Anatel's approval the operation to Telefonica entrance in Telecom Italia was concluded in 10/25/07.   In 07/31/08 Anatel's director council approved the shareholding agreement set by Telefonica and Telecom Italia which, in Anatel's view, fulfilled the conditions imposed avoiding the concentration of cellular telephony in the Brazilian market.

 

 

www.telecomitalia.it

 

 

Quarter Results

 

Operational Performance

 

Consolidated

 

Thousands	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	∆Qter	∆Year
Italy - Fixed	15,901	15,741	15,584	15,351	15,145	14,962	14,827	(0.9%)	(4.9%)
Italy - Mobile	30,393	30,545	30,632	31,018	31,038	31,260	31,679	1.3%	3.4%
TIM Brazil	42,356	44,413	46,934	51,015	52,836	55,512	59,197	6.6%	26.1%
Telecom personal	16,767	17,169	17,843	18,211	16,882	17,392	17,786	2.3%	(0.3%)
Total of cellulars	89,516	92,127	95,409	100,244	100,756	104,164	108,662	4.3%	13.9%
Broadband	8,859	8,958	9,033	9,058	9,131	9,117	9,072	(0.5%)	0.4%
Pay TV	395	395	391	374	350	328	296	(9.8%)	(24.3%)

 

 

Fixed - Italy

 

Thousands	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	∆Qter	∆Year
Fixed Accesses	15,901	15,741	15,584	15,351	15,145	14,962	14,827	(0.9%)	(4.9%)
Broadband	8,859	8,958	9,033	9,058	9,131	9,117	9,072	(0.5%)	0.4%
IPTV	395	395	391	374	350	328	296	(9.8%)	(24.3%)
ARPU (Euros)	18.7	18.7	18.6	18.5	18.4	18.3	18.6	1.6%	0.0%

 

 

Mobile - Italy

 

Thousands	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	∆Qter	∆Year
Mobile Accesses	30,393	30,545	30,632	31,018	31,038	31,260	31,679	1.3%	3.4%
Traffic (Million min.)	12,104	12,805	13,188	13,847	13,310	13,962	13,735	(1.6%)	4.1%
Out bound	8,547	9,194	9,633	10,348	10,117	10,612	10,394	(2.1%)	7.9%
In bound	3,557	3,611	3,555	3,499	3,193	3,350	3,341	(0.3%)	(6.0%)
MOU	145	155	159	167	159	167	163	(2.4%)	2.3%
ARPU (euros)	19.70	20.60	19.60	18.80	17.00	18.00	17.5	(2.8%)	(10.7%)

 

 

Economic Performance

 

Consolidated

 

Million Euros	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	∆Qter	∆Year
Revenue	6,413	6,810	6,676	7,672	7,073	7,470	7,516	0.6%	12.6%
Italy	4,974	5,117	4,941	5,036	4,596	4,760	4,742	(0.4%)	(3.8%)
Italy Fixed	3,498	3,560	3,458	3,600	3,331	3,360	3,349	(0.3%)	(2.8%)
Italy Mobile	1,907	2,001	1,914	1,870	1,679	1,817	1,790	(1.5%)	(6.5%)
TIM Brazil	1,323	1,552	1,623	1,701	1,646	1,853	1,896	2.3%	16.8%
Olivetti	73	103	83	132	78	83	65	(21.7%)	(21.7%)
Telecom Personal	-	-	-	798	753	758	813	7.3%	-
Others	21	22	21	0	1	0	1	-	(95.2%)
EBITDA	2,826	2,907	2,742	2,937	2,714	2,801	3,198	4.9%	16.6%
Italy	2,451	2,469	2,290	2,183	2,273	2,318	2,446	5.5%	(3.8%)
TIM Brazil	381	442	458	520	457	496	496	0.0%	8.3%
Olivetti	(10)	(6)	(8)	5	(14)	(10)	(12)	20.0%	(50.0%)
Others	(2)	(2)	1	(18)	(2)	(5)	(2)	(60.0%)	(300.0%)
EBITDA Margin	44.1%	42.7%	41.1%	38.3%	41.4%	40.8%	42,5%	-	-
EBIT	1,408	1,473	1,423	1,509	1,374	1,448	1,888	221.8%	32.7%
Italia	1,366	1,392	1,280	1,124	1,222	1,280	1,536	180.5%	20.0%
TIM Brazil	65	100	167	353	184	256	243	(5.1%)	45.5%
Olivetti	(11)	(7)	(9)	3	(15)	(12)	(13)	8.3%	44.4%
Others	(8)	(6)	(5)	(19)	(2)	(2)	(2)	0.0%	(60.0%)
EBIT Margin	22%	22%	21%	20%	21%	20.8%	25%	-	-
Net Profit	601	610	608	1,302	549	(2,562)	807	131.5%	32.7%
CAPEX (Million Euros)	1,042	979	917	1,645	901	1,023	1,153	1.4%	25.7%
Italy	752	735	666	953	663	695	657	(5.5%)	(1.4%)
TIM Brazil	277	230	234	475	130	314	363	15.6%	55.1%
Net Debt	33,262	33,579	32,985	31,468	30,622	31,119	29,948	(3.8%)	(9.2%)

 

 

Fixed - Italy

 

Thousands	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	∆Qter	∆Year
Total Revenue	3,498	3,560	3,458	3,600	3,331	3,360	3,349	(0.3%)	(3.2%)
Voice	1,569	1,555	1,490	1,520	1,437	1,426	1,397	(2.0%)	(6.2%)
Internet	450	437	430	434	422	425	421	(0.9%)	(2.1%)
Broadband	445	431	425	429	418	421	418	(0.7%)	(1.6%)
Data	351	408	387	509	364	399	380	(4.8%)	(1.8%)
Resale	1,035	1,057	1,044	1,035	1,015	1,023	1,052	2.8%	0.8%

 

 

Mobile - Italy

 

Thousands	1Q10	2Q10	3Q10	4Q10	1Q11	2Q11	3Q11	∆Qter	∆Year
Total Revenue	1,907	2,001	1,914	1,870	1,679	1,817	1,790	(1.5%)	(6.5%)
Service Revenue	1,850	1,936	1,867	1,784	1,634	1,735	1,727	(0.5%)	(7.5%)
Out bound Voice	991	1,057	1,020	965	876	923	924	0.1%	(9.4%)
In Bound Voice	287	291	243	240	219	231	183	(20.8%)	(24.7%)
Others	61	76	89	70	63	79	95	20.3%	6.7%
VAS	510	512	514	509	475	503	524	4.2%	1.9%
SMS	210	225	222	228	208	211	212	0.5%	(4.5%)
VAS/ Service Revenue (%)	27.6%	26.4%	27.5%	28.5%	29.1%	29.0%	30.3%	-	-
Handsets	58	65	47	86	45	82	63	(23.2%)	34.0%

 

 

 

Annual Results

 

Revenues

 

Net Revenue	2006	2007	2008	2009	2010	∆Year
Italy*	25,785	24,220	23,262	21,688	20,068	(7.4%)
- Italia Wireline	16,988	15,727	15,035	14,759	14,116	(4.2%)
- TIM Italia	10,210	9,922	9,687	8,603	7,692	(10.5%)
Europe broadband	915	1,151	1,274	-	-	-
Tim Brasil	3,964	4,990	5,208	5,022	6,199	23.4%
Media	207	263	287	230	258	12.1%
Olivetti	440	408	352	350	391	11.7%
Other activities	-	-	-292	-102	-143	(40.1%)
Group	31,275	31,013	29,000	26,894	27,571	2.5%

* includes eliminations

 

 

Million Euros	2006	2007	2008	2009	2010	∆Year
Net revenue	31,275	31,013	29,000	26,894	27,571	2.5%
EBITDA	12,850	11,668	11,090	11,115	11,412	2.6%
EBITDA margin	41.1%	37.6%	38.2%	41.3%	41.0%	(0.7%)
EBIT	7,437	5,955	5,437	5,493	5,813	5.8%
Ebit margin	23.8%	19.2%	18.7%	20.4%	21.1%	2.4%
Net Profit	3,014	2,448	2,177	1,581	3,121	97.4%
Investments	5,114	5,370	5,040	4,543	4,889	7.6%
Net debt	37,301	35,701	34,526	33,949	31,468	(7.3%)

 

 

Financial Economic Performance - Italy

 

Million Euros	2008	2009	2010	∆Year
Total Net Revenue	23,262	21,688	20,068	(7.3%)
- Fixed	15,035	14,759	14,116	(4.2%)
-Mobile (Tim)	9,687	8,603	7,692	(10.5%)
EBITDA	10,285	10,081	11,412	2.6%
EBITDA Margin	44.2%	46.5%	46.8%	2.7%
3G Revenue	545	652	-	-

 

 

Composition of the mobile net revenue

 

Million Euros	2008	2009	2010	∆Year
Net Revenue	9,687	8,597	7,692	(10.3%)
Devices Sale	860	482	256	(46.8%)
Voice	4,969	4,583	4,033	(12.0%)
VAS	2,173	2,022	2,045	1.1%
Other Revenues	1,684	1,511	1,357	(10.1%)

 

 

Cellulars (Thousands) in South America

 

 

 

Telecom Italia had operations in Peru, Chile and Venezuela that were sold:

• Tim announced in January 2006 the sale of Digicel to Telvenco S.A, a company owned by Oswaldo Cisneros, price US$ 425 millions. Digicel had in 2005 , 1.7 million cellulars and 287 million euros Revenue. Tim had announced in november 2004 Digicel selling to Cantv by US$ 450 million, operation that hadn't been approved by Conatel.
• January 2005 its participation in Entel Chile to Almendral, company of Grupo Hurtado Vicuña by US$ 934 million.
• August 2004 , Tim Peru by 497 Million Euros to América Móvil. In the Fixed Telephony, Telecom Itália has partipations of Brasil Telecom in Brazil and Telecom Argentina.

In April/07 the Bolivian Government annunced the partial nationalization of Entel Bolivia.

 

In fixed telephony, Telecom Italia has a participation in Telecom Argentina.

 

 

Telecom Italia TIM

 

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