Telecom Italia Group (TI, TIAOF.PK) said it expects 2009 revenues and the organic EBITDA margin to be in line with 2008 figures.
The company said that in 2009, capex would total around 4.8 billion euros. The Net Debt/EBITDA ratio is expected to be around 2.9 by year-end 2009.
Telecom Italia provided earnings targets for 2008 and 2011, on an equivalent consolidation area, exchange rate, and non-organic income and charges basis. The company forecasts average yearly revenue growth in excess of 2%, while it expects EBITDA margin above 39% by 2011.
In 2011, capex would correspond to around 13.0%-13.5% of revenues. Given these objectives, the group forecasts the Net Debt/EBITDA ratio to be around 2.3 by year-end 2011.
Telecom Italia announced further reductions in domestic employee numbers with an additional 4 thousand beyond the planned 5 thousand reductions by 2010.
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