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Consensus

05/14/2018 - 09:30 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  1Q'18

                Consensus
REVENUES Reported (€mln) FY'16   1Q'17 2Q'17 3Q'17 4Q'17 FY'17 1Q'18 YoY
Domestic 15.006   3.647 3.847 3.818 4.042 15.354 3.662 0,4%
o/w Wireline Domestic 10.495   2.596 2.700 2.630 2.763 10.689 2.597 0,0%
o/w Fixed Services 9.965   2.424 2.508 2.496 2.524 9.952 2.426 0,1%
o/w Mobile Domestic 5.179   1.216 1.301 1.334 1.424 5.275 1.228 1,0%
o/w Mobile Services 4.579   1.083 1.145 1.202 1.225 4.655 1.093 0,9%
TI Group 19.025   4.819 4.953 4.907 5.149 19.828 4.690 -2,7%
                   
EBITDA Reported     (€ mln)                  
Domestic 6.698   1.621 1.740 1.694 1.116 6.171 1.610 -0,7%
TI Group 8.002   1.990 2.124 2.099 1.577 7.790 1.958 -1,6%
                   
Non recurring items & exchange rate impact  DOMESTIC  (€ mln) 180   24 71 126 661 882 17  
Ebitda Organic  Domestic 6.878   1.645 1.811 1.820 1.777 7.053 1.627 -1,1%
                   
EBITDA Margin   (%)                  
Domestic 44,6%   44,4% 45,2% 44,4% 27,6% 40,2% 44,0% -0,4 pp
TI Group 42,1%   41,3% 42,9% 42,8% 30,6% 39,3% 41,8% 0,5 pp
                   
CAPEX    (€ mln)                  
Domestic 3.709   631 995 1.551 1.374 4.551 592 -6,2%
TI Group 4.876   831 1.225 1.825 1.820 5.701 777 -6,5%
                   
CAPEX Margin (%)                  
Domestic 24,7%   17,3% 25,9% 40,6% 34,0% 29,6% 16,2% -1,1 pp
TI Group 25,6%   17,2% 24,7% 37,2% 35,3% 28,8% 16,6% -0,6 pp
                   
                   
ENDING NET DEBT (Adjusted) 25.119   25.235 25.104 26.228 25.308 25.308 25.573 338
                   
TIM Brasil in LC (R$ mln)               Published data  
Revenues Reported 15.617   3.951 3.943 4.083 4.257 16.234 4.139 4,8%
of which services 14.720   3.744 3.750 3.905 4.075 15.474 3.983 6,4%
of which handsets 897   207 193 178 182 760 156 -24,6%
EBITDA Reported 5.114   1.247 1.377 1.512 1.758 5.894 1.456 16,8%
EBITDA margin 32,7%   31,6% 34,9% 37,0% 41,3% 36,3% 35,2% 3,6 pp
Capex Reported 4.502   669 809 1.009 1.661 4.148 646 -3,4%
% on revenues 28,8%   16,9% 20,5% 24,7% 39,0% 25,6% 15,6% -1,3 pp
                   
EBITDA Organic 5.170   1.247 1.377 1.512 1.758 5.894 1.456 16,8%
  33,1%   31,6% 34,9% 37,0% 41,3% 36,3% 35,2% 3,6 pp