Telecom Italia S.p.A.'s (TIAOF) Board Of Directors have approved the company's 2023-2025 Industrial Plan, expecting growth in EBITDA and revenues.
Chief Executive Officer Pietro Labriola presented the plan, which follows the transformation process started in 2022, and consistent with the previous one, despite a radically different macroeconomic context compared to last year.
As per the 2023-2025 plan, the company projects Group revenues from services to grow low single digit in 2023 with the domestic business broadly stable, offset by high single digit growth in Brazil.
Organic Group EBITDA would grow mid single digit in 2023 with the domestic business flat to low single digit growth and Brazil growing low double digit.
Further, the company projects organic Group After Lease EBITDA to grow low to mid single digit for 2023.
For the '22-'25 period, Group revenues from services are expected to grow low single digit CAGR, organic Group EBITDA to grow mid single digit and organic Group After Lease EBITDA is expected to show mid single digit growth at CAGR.
Group capex is expected to reach around 4.0 billion euros in 2023, stable over the plan period.
The Board of Directors also resolved not to co-opt a Director to replace Arnaud de Puyfontaine, in view of the approaching Shareholders' Meeting that will be called to decide on the appointment.
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