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
|(millions of euros)||2011||2010|
|Profit for the year||4,280||3,575|
|Adjusted net financial debt||30,414||31,468|
|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 ...