Annual Report 2011
- Highlights: The Telecom Italia Group reached all its consolidated 2011 goals in terms of stabilising revenues, profits and operating free cash flow generation.
- Highlights: At the Group level, the deleverage process continued, making it possible to reduce consolidated debt, thus amply fulfilling the objectives laid down in the 2008 business plan.
- Higlights: In Brazil the results exceeded all expectations, with an increase in revenues of 18% favoring a significant rise in operating profit.
- Highlights: The relaunch and consolidation of the Telecom Argentina Group continued and a very positive year closed with 26% higher revenues and a significant increase in operating profit
Key figures
| (millions of euros) | 2011 | 2010 |
|---|---|---|
|
|
|
|
| Revenues | 29,957 | 27,571 |
| EBITDA | 12,246 | 11,412 |
| EBIT | (603) | 5,818 |
| Profit for the year | 4,280 | 3,575 |
| Adjusted net financial debt | 30,414 | 31,468 |
| EBITDA/Revenues | 40.9% | 41.4% |
| EBIT/Revenues (ROS) | n.s. | 21.1% |
| Adjusted net financial debt/EBITDA | 2.8 | 3.1 |
Letter to the Shareholders
... Our aims have not changed: we intend to continue our action to consolidate the domestic market, promote growth in Latin America and encourage continuous improvements in the efficiency of management and productive processes ...
Report on Operations
