Telecom Italia Sees 5% Rise in H1 Core Earnings Amid CFO Change.

Telecom Italia posted a 5% rise in H1 core earnings, with EBITDA at €1.73 bln. The company also announced a change in CFO.

Telecom Italia (TIM) reported a significant improvement in its first-half (H1) core earnings, with EBITDA reaching €1.73 billion, marking a 5% rise from the previous period. The company's net loss narrowed to EUR132 million, a substantial improvement from the EUR646 million loss reported in the same period last year. Revenue for the six-month period stood at EUR6.60 billion, a slight decrease from EUR6.66 billion in the first half of 2024.

The financial performance was bolstered by TIM Brasil, which contributed EUR2.1 billion in revenues and EUR800 million in EBITDA after lease. Overall, TIM's EBITDA was EUR2.00 billion, down from EUR2.60 billion in the prior year, with a margin of 30.3% compared to 39%. Net financial debt after lease increased to EUR7.5 billion from EUR2.27 billion in 2024.

The company expects positive cash generation in the second half of the year, aligning with its market guidance. TIM's Adjusted Net Financial Debt After Lease to Organic EBITDA After Lease ratio remained below 2.1x, underscoring its strong financial structure compared to other European telecommunications operators.

Additionally, TIM announced changes in its executive leadership. Chief Public Affairs, Security & International Business Officer, Eugenio Santagata, will resign effective August 31, while Chief Financial Officer, Adrian Calaza, will remain in his role until the presentation of third-quarter results on November 6. Piergiorgio Peluso will join the group as an advisor to the CEO starting October 1.

TIM shares were up 0.3% at EUR0.41 per share at the close of trading on July 2, 2025.

References:
[1] https://www.marketscreener.com/news/tim-narrows-losses-in-first-half-guidance-confirmed-ce7c5ed8da88f52d
[2] https://www.marketscreener.com/news/antitrust-authority-approves-poste-italiane-s-acquisition-of-telecom-italia-stake-sources-ce7c5fdcd181f621