* Provisions to 399 million, from 309 million expected * EBITDA home ‘underlying’ reduces bending quarter * Positive action after weak start, you look at operating performance (Adds analyst comment) MILAN, August 7 (Reuters) – Telecom Italy closed the first half with EBITDA weaker than expected, due to accruals for their demanding damages for abuse of dominant position higher than the forecasts of analysts. The company said in a statement, stressing that the domestic EBITDA showed a smaller decrease of the quarter and then by 2015 the group expects a gradual improvement in operating in Brazil and Italy, which confirms its objective of stabilization of EBITDA in 2016. In opening the market reacts badly to the figure on provisions, but after half an hour of trading, the shares recovered from their lows and cancel the fall. According to Jefferies, who has an opinion “buy” on the stock with a target of 1.35 EUR, the company released solid results, with clear evidence of improvement , however, penalized by provisions. The numbers indicate that the group is actually implementing a strategy for improvement of the accounts, says the report of the bank. 10.15 Telecom Italy rises by 0.2% to € 1,224, with exchanges to 30.6 million pieces, from a daily average of 30 days to 117 million. More …
No comments:
Post a Comment