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Consensus

11/07/2017 - 07:15 PM

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The attached table shows the consensus data calculated as the arithmetic average of the most recent estimates made by certain independent analysts (*) of Telecom Italia‘s key financial data.
The consensus estimates contained in this table are for informational purposes only and constitute neither a recommendation nor a solicitation or invitation to buy, sell or maintain the availability of Telecom Italia or the Group companies financial instruments.
The data set forth below represents forecasts made by these independent analysts and do not represent opinions, forecasts or estimates of Telecom Italia or of its management.
Telecom Italia takes no responsibility for the completeness and reliability of the consensus estimates reported in the table.


(*) Please note that the consensus estimates where provided by only some of the analysts covering Telecom Italia.

Analysts Consensus on TI Group  3Q'17

                  Consensus  
REVENUES (€mln)   1Q'16 2Q'16 3Q'16 4Q'16 FY'16 1Q'17 2Q'17 3Q'17 YoY
Domestic   3.548 3.699 3.789 3.970 15.006 3.647 3.847 3.816 0,7%
o/w Wireline Domestic   2.553 2.578 2.643 2.721 10.495 2.596 2.700 2.651 0,3%
o/w Fixed Services   2.483 2.488 2.499 2.494 9.965 2.424 2.508 2.507 0,3%
o/w Mobile Domestic   1.186 1.261 1.300 1.432 5.179 1.216 1.301 1.322 1,7%
o/w Mobile Services   1.059 1.117 1.183 1.220 4.579 1.083 1.145 1.193 0,9%
Brazil   897 961 1.064 1.125 4.047 1.181 1.112 1.101 3,5%
Other activities & Elim.   (5) (4) (10) (9) (28) (9) (6) (8) n.m.
TI Group   4.440 4.656 4.843 5.086 19.025 4.819 4.953 4.909 1,4%
                     
EBITDA Reported     (€ mln)                    
Domestic   1.461 1.723 1.811 1.703 6.698 1.621 1.740 1.827 0,9%
Brazil   258 298 344 425 1.325 372 390 387 12,5%
Other activities & Elim.   (7) (7) (3) (4) (21) (3) (6) (8) n.m.
TI Group   1.712 2.014 2.152 2.124 8.002 1.990 2.124 2.206 2,5%
                     
Non recurring items & exchange rate impact  DOMESTIC  (€ mln)   67 16 56 43 182 24 71 18  
Ebitda Organic  Domestic   1.528 1.739 1.867 1.746 6.880 1.645 1.811 1.845 -1,2%
                     
EBITDA Margin   (%)                    
Domestic   41,2% 46,6% 47,8% 42,9% 44,6% 44,4% 45,2 47,9% 0,1 pp
Brazil   28,8% 31,0% 32,3% 37,8% 32,7% 31,5% 35,1 35,1% 2,8 pp
TI Group   38,6% 43,3% 44,4% 41,8% 42,1% 41,3% 42,9 44,9% 0,5 pp
                     
                     
CAPEX    (€ mln)                    
Domestic   778 797 823 1.311 3.709 631 995 1.546 87,8%
Brazil   166 242 301 458 1.167 200 230 294 -2,2%
Elim & Adj   0 0 0 0 0 0 0 6 n.m
TI Group   944 1.039 1.124 1.769 4.876 831 1.225 1.846 64,3%
                     
                     
ENDING NET DEBT (Adjusted)   27.139 27.514 26.735 25.119 25.119 25.235 25.104 26.184 -551
                     
                     
TIM Brasil in LOCAL CURRENCY (R$ mln)                  
Revenues Reported   3.854 3.820 3.900 4.043 15.617 3.951 3.943 4.068 4,3%
of which services   3.618 3.570 3.690 3.842 14.720 3.744 3.750 3.853 4,4%
of which handsets   236 250 210 201 897 207 193 212 1,0%
EBITDA Reported   1.107 1.189 1.270 1.548 5.114 1.247 1.377 1.430 12,67%
EBITDA margin    28,7% 31,1% 32,6% 38,3% 32,7% 31,6% 34,9 35,1% 2,5 pp
Capex Reported   710 975 1.122 1.695 4.502 669 809 1.089 -2,9%
% on revenues   18,4% 25,5% 28,8% 41,9% 28,8% 16,9% 20,5% 26,8% -2 pp
                     
EBITDA Organic   1.140 1.190 1.292 1.548 5.170 1.247 1.377 1.430 10,7%
                     
KPIs - Domestic Fixed                     
Physical accesses ('000)   11.602 11.468 11.368 11.285 11.285 11.230 11.185 11.137 -2,0%
Line losses    (140) (134) (100) (83) (457) (55) (45) (48) -52,3%
TI Retail Broadband Accesses ('000)   7.067 7.088 7.123 7.191 7.191 7.310 7.419 7.530 5,7%
NGN Accesses ('000)   842 989 1.119 1.350 1.350 1.698 2.139 2.376 112,3%
                     
KPIs - Domestic Mobile                    
Total number of lines ('000)   29.846 29.742 29.549 29.617 29.617 29.417 29.952 29973 1.4%
Total User Broadband ('000)   11.648 11.775 12.082 12.208 12.208 12.208 12.500 12.774 5,7%
Total User LTE (mln of users)   5,0 5,7 6,2 7,6 7,6 8,3 9,0 10 56,1%
                     
KPIs -  TIM Brasil                     
Total Mobile Lines ('000)    67.269 63.988 63.247 63.418 63.418 61.868 60.831 60.414 -4,5%