MILAN: Telecom Italia<\/a> (TIM) shares rose more than 9% on Wednesday, after Italy's biggest phone company said profit and sales should stabilise this year helped by initial signs of recovery in its battered home market.
In a year in which the Italian economy shrank by 8.8% due to the pandemic, TIM managed to slightly beat expectations with a 6% drop in organic earnings before interest, tax, depreciation and amortisation (EBITDA) after lease costs.
The company's shares were on track for their best daily gain since March, up 9.2% at 1518 GMT, versus a 0.8% fall in the European telecoms index. The stock has underperformed the sector in the past year.
\"Telecom Italia ticked a number of boxes with its full-year results,\" Deutsche Bank<\/a> said in a note.
Other analysts concurred that the domestic fixed and mobile businesses of the former phone monopoly had improved in the fourth quarter thanks in part to a government-sponsored scheme to support household broadband take-up.
Shares were also supported by tax changes which lifted last year's net profit, and a new tax structure which could boost the company's cash flow in the medium term, they said.
NewStreet calculated the new tax structure was worth 0.12 euros per share, around 32% of TIM's current value.
In reporting 2020 results on Tuesday, TIM also proposed keeping Chief Executive Luigi Gubitosi on for another term as shareholders prepare to appoint a new board on March 31.
The slate put forward by the board includes Vivendi CEO Arnaud de Puyfontaine and Giovanni Gorno Tempini, chairman of state lender CDP.
CDP, the second-largest shareholder in TIM behind Vivendi, partly owns Open Fiber, a fiber-optic provider whose assets would be merged with TIM's under a government-sponsored plan that is still to be finalised. \"The proposal for directors ... should allow for stable corporate governance and hopefully smooth the way towards a deal with OpenFiber\", NewStreet said in a research note.
New Prime Minister Mario Draghi has put digital infrastructure at the heart of Italy's agenda but has yet to clarify whether he intends to implement the unified network project launched by his predecessors and under what terms.
In a call with analysts, Gubitosi said he had various exchanges with new ministers and saw no reason to believe that Rome's position on the project had changed.
He added, however, that the network tie-up needed to happen soon to realise potential synergies, or efficiencies, which technical due diligence showed to be \"significant\".
\"With the willingness of the government and the CDP to implement this agreement and generate value for the country, I think it will occur earlier rather than later\", Gubitosi said.
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意大利电信公司股价上涨前景改善,提高税收
一年的意大利经济萎缩了8.8%由于流感大流行,蒂姆设法略超过预期下降6%有机利息、税项、折旧及摊销前利润(EBITDA)后租赁成本。
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由埃尔韦拉Pollina说道
米兰:意大利电信(TIM)周三股价上涨超过9%,此前意大利最大的电话公司表示今年利润和销售应该稳定了初始冲击国内市场复苏的迹象。
一年的意大利经济萎缩了8.8%由于流感大流行,蒂姆设法略超过预期下降6%有机利息、税项、折旧及摊销前利润(EBITDA)后租赁成本。
该公司的股价在3月以来的最大单日涨幅,1518 GMT时上涨了9.2%,而欧洲电信指数下降了0.8%。股票的表现领域在过去的一年。
“意大利电信勾选的选项以其全年业绩,”德意志银行(Deutsche Bank)在一份报告中称。
其他分析师同意,前者的国内固定和移动业务电话垄断在第四季度有所改善,一部分要归功于他在政府资助的计划,以支持家庭宽带使用率。
股价也支持通过税收改革取消了去年的净利润,和一个新的税收结构可以增加公司的现金流在中期内,他们说。
乐动扑克NewStreet新税收结构计算每股价值0.12欧元,蒂姆的当前值的32%左右。
周二在2020年业绩报告,蒂姆还提议让首席执行官路易吉Gubitosi连任股东准备任命一个新的委员会3月31日。
提出的石板董事会包括威望迪CEO Arnaud de Puyfontaine和乔凡尼Gorno Tempini,国有银行CDP主席。
CDP,蒂姆威望迪背后的第二大股东,部分拥有开放的光纤,光纤供应商的资产将是与蒂姆的合并在一个政府资助的计划,仍有待决定。“董事的建议…应该允许稳定的公司治理和希望向处理OpenFiber”铺平道路,NewStreet在一份研究报告中表示。乐动扑克
新总理马里奥•德拉吉已将数字基础设施的核心,意大利的议程,但尚未明确是否他打算实施统一的网络工程以及在什么条件下推出了他的前任。
在与分析师的电话,Gubitosi与新部长说他各种交往,认为没有理由相信罗马在项目上的立场发生了改变。
他补充说,然而,网络合作需要发生很快意识到潜在的协同效应,或效率,技术尽职调查显示“重大”。
”与政府的意愿和CDP实施本协议并创造价值,我认为这早会发生”,Gubitosi说。
米兰:意大利电信(TIM)周三股价上涨超过9%,此前意大利最大的电话公司表示今年利润和销售应该稳定了初始冲击国内市场复苏的迹象。
一年的意大利经济萎缩了8.8%由于流感大流行,蒂姆设法略超过预期下降6%有机利息、税项、折旧及摊销前利润(EBITDA)后租赁成本。
该公司的股价在3月以来的最大单日涨幅,1518 GMT时上涨了9.2%,而欧洲电信指数下降了0.8%。股票的表现领域在过去的一年。
“意大利电信勾选的选项以其全年业绩,”德意志银行(Deutsche Bank)在一份报告中称。
其他分析师同意,前者的国内固定和移动业务电话垄断在第四季度有所改善,一部分要归功于他在政府资助的计划,以支持家庭宽带使用率。
股价也支持通过税收改革取消了去年的净利润,和一个新的税收结构可以增加公司的现金流在中期内,他们说。
乐动扑克NewStreet新税收结构计算每股价值0.12欧元,蒂姆的当前值的32%左右。
周二在2020年业绩报告,蒂姆还提议让首席执行官路易吉Gubitosi连任股东准备任命一个新的委员会3月31日。
提出的石板董事会包括威望迪CEO Arnaud de Puyfontaine和乔凡尼Gorno Tempini,国有银行CDP主席。
CDP,蒂姆威望迪背后的第二大股东,部分拥有开放的光纤,光纤供应商的资产将是与蒂姆的合并在一个政府资助的计划,仍有待决定。“董事的建议…应该允许稳定的公司治理和希望向处理OpenFiber”铺平道路,NewStreet在一份研究报告中表示。乐动扑克
新总理马里奥•德拉吉已将数字基础设施的核心,意大利的议程,但尚未明确是否他打算实施统一的网络工程以及在什么条件下推出了他的前任。
在与分析师的电话,Gubitosi与新部长说他各种交往,认为没有理由相信罗马在项目上的立场发生了改变。
他补充说,然而,网络合作需要发生很快意识到潜在的协同效应,或效率,技术尽职调查显示“重大”。
”与政府的意愿和CDP实施本协议并创造价值,我认为这早会发生”,Gubitosi说。
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