(ANSA) – MILAN, DEC 16 – 48 hours after the board of directors Tim, called for Friday, updated the management forecasts for the 2021 financial year with a third profit warning, Italy is still suffering with the restart of Brazil which compensates a little. Provisions may be needed but are postponed to next year, pending the finalization of the renegotiation of the agreement with Dazn.
“The organic Ebitda After lease of the Domestic Business Unit is estimated to decrease,” low teens decrease “(between 13-15% ed) with a worsening compared to the previous forecast communicated in October (” high single-digit decrease “)” due to lower revenues from fixed telephony, partly linked to football. Thanks to the growth in Brazil (“mid single-digit”), however, “the consolidated organic EBITDA AL for the 2021 group is expected to exceed 5.4 billion euros. The trend in the Group’s organic revenues is confirmed to be decreasing (” low single-digit “) and the AL adjusted consolidated net financial debt is expected to be around 17.6 billion euros after the payment of licenses for 435 million euros, of which 140 million euros following the award of 5G frequencies in Brazil “.
The crux of the accounts will be on the table of tomorrow’s board of directors, together with governance and decisions on Kkr’s offer. The 2022-2024 plan, on the other hand, will be submitted for approval by the Board of Directors together with the 2021 accounts and the guidance relating to the three-year period 2022/24. (HANDLE).
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Source From: Ansa
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