Italian telecom company Telecom Italia Group (TI,TIAOF.PK) on Wednesday said that its first-quarter profit attributable to owners of the parent declined to 364 million euros, from 605 million euros in the same period last year.
Earnings before income taxes or EBIT, fell 21.1 percent to 1.28 billion euros from 1.62 billion euros a year-ago.
Meanwhile, revenues for the first quarter of 2013 totaled 6.79 billion euros, down 8.1% from 7.39 billion euros, as restated, in the 2012 period. In terms of organic variation, consolidated revenues dropped 3.2%.
Looking forward to the full year 2013, the company sees "revenues essentially unchanged from 2012." Also, the company expects to record a Low-single digit percentage reduction in EBITDA for 2013.
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