Cash flow Telecom Italia S.p.A.

Equities

TIT

IT0003497168

Integrated Telecommunications Services

Real-time Borsa Italiana Other stock markets 03:55:20 2024-09-11 am EDT			5-day change	1st Jan Change
0.2264 ^EUR	+0.04%		-3.33%	-22.98%

Sep. 10	Telecom Italia among suitors for residual BT business in Italy, sources say	RE
Sep. 06	Lists bearish; traders await U.S. data	AN

7deca5231c4c9682bdd7364.VtqxTd37kdJ9qjRS0AIeStcmFUUNhTmmVEXFxrZLlC4.E4D4dbee1oIwzHknkm1UALYfQgx_9VP2YXaOseko-HodgscipLbXnCnbBA

Published financial data: TELECOM ITALIA S.P.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	17.97B	15.8B	15.32B	15.79B	16.3B
Other Revenues, Total	-	-	-	-	-
Total Revenues	17.97B	15.8B	15.32B	15.79B	16.3B
Cost of Goods Sold, Total	8.18B	7.55B	7.78B	8.18B	8.22B
Gross Profit	9.79B	8.26B	7.54B	7.61B	8.08B
Selling General & Admin Expenses, Total	646M	632M	815M	1.03B	1.17B
Depreciation & Amortization - (IS)	4.93B	4.62B	4.49B	4.78B	4.86B
Other Operating Expenses	1.06B	720M	649M	686M	679M
Other Operating Expenses, Total	6.63B	5.97B	5.95B	6.5B	6.71B
Operating Income	3.16B	2.29B	1.59B	1.12B	1.36B
Interest Expense, Total	-1.32B	-1.17B	-1.11B	-1.32B	-1.73B
Interest And Investment Income	105M	522M	229M	354M	217M
Net Interest Expenses	-1.22B	-651M	-885M	-967M	-1.51B
Income (Loss) On Equity Invest.	-3M	18M	38M	23M	-29M
Currency Exchange Gains (Loss)	3M	-51M	39M	23M	-3M
Other Non Operating Income (Expenses)	-69M	101M	-37M	-125M	26M
EBT, Excl. Unusual Items	1.88B	1.71B	742M	69M	-157M
Restructuring Charges	-256M	-34M	-8M	-	-
Impairment of Goodwill	-	-	-4.12B	-	-
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-49M	-11M	1M	36M	-11M
Asset Writedown	-	-8M	-	-	-
Legal Settlements	706M	-	-	-	-
Other Unusual Items	-540M	-258M	-1.13B	-693M	-712M
EBT, Incl. Unusual Items	1.74B	1.4B	-4.52B	-588M	-880M
Income Tax Expense	513M	-5.96B	3.88B	2.07B	227M
Earnings From Continuing Operations	1.23B	7.35B	-8.4B	-2.65B	-1.11B
Earnings Of Discontinued Operations	16M	-	-	-	-
Net Income to Company	1.24B	7.35B	-8.4B	-2.65B	-1.11B
Minority Interest	-326M	-128M	-252M	-271M	-334M
Net Income - (IS)	916M	7.22B	-8.65B	-2.92B	-1.44B
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	916M	7.22B	-8.65B	-2.92B	-1.44B
Net Income to Common Excl. Extra Items	900M	7.22B	-8.65B	-2.92B	-1.44B
Per Share Items
Net EPS - Basic	0.04	0.34	-0.41	-0.14	-0.07
Basic EPS - Continuing Operations	0.04	0.34	-0.41	-0.14	-0.07
Basic Weighted Average Shares Outstanding	21.07B	21.08B	21.21B	21.24B	21.25B
Net EPS - Diluted	0.04	0.34	-0.41	-0.14	-0.07
Diluted EPS - Continuing Operations	0.04	0.34	-0.41	-0.14	-0.07
Diluted Weighted Average Shares Outstanding	21.07B	21.08B	21.21B	21.24B	21.25B
Normalized Basic EPS	0.04	0.04	0.01	-0.01	-0.02
Normalized Diluted EPS	0.04	0.04	0.01	-0.01	-0.02
Dividend Per Share	0.01	0.01	-	-	-
Payout Ratio	30.46	5.4	-4.25	-2.32	-13.12
American Depositary Receipts Ratio (ADR)	10	10	10	10	10
Supplemental Items
EBITDA	7.31B	6.22B	5.38B	4.98B	5.26B
EBITA	4.84B	3.92B	3.1B	2.63B	2.9B
EBIT	3.16B	2.29B	1.59B	1.12B	1.36B
EBITDAR	7.73B	6.66B	5.98B	5.78B	6.2B
Total Revenues (As Reported)	18.91B	16.02B	15.59B	16B	16.5B
Effective Tax Rate - (Ratio)	29.5	-426.27	-86.05	-351.36	-25.8
Total Current Taxes	241M	580M	11M	-580M	78M
Total Deferred Taxes	272M	-6.54B	3.87B	2.65B	149M
Normalized Net Income	848M	940M	212M	-228M	-432M
Interest Capitalized	9M	-	-	48M	18M
Interest on Long-Term Debt	1.33B	1.16B	1.11B	1.19B	1.3B
Non-Cash Pension Expense	2M	5M	5M	12M	17M
Supplemental Operating Expense Items
Advertising Expense	218M	196M	212M	235M	237M
Selling and Marketing Expenses	218M	196M	212M	235M	237M
Research And Development Expense From Footnotes	55M	79M	56M	49M	48M
Net Rental Expense, Total	428M	436M	603M	798M	935M
Imputed Operating Lease Interest Expense	140M	124M	162M	263M	403M
Imputed Operating Lease Depreciation	288M	312M	441M	535M	532M
Maintenance & Repair Expenses, Total	244M	277M	291M	518M	532M
Stock-Based Comp., COGS (Total)	2.2M	2.6M	7M	4M	3M
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	2.2M	2.6M	7M	4M	3M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	3.14B	4.83B	6.9B	3.56B	2.91B
Short Term Investments	728M	767M	1.52B	1.04B	1.52B
Trading Asset Securities, Total	255M	472M	855M	537M	540M
Total Cash And Short Term Investments	4.12B	6.07B	9.27B	5.13B	4.97B
Accounts Receivable, Total	3.47B	3.02B	2.79B	2.99B	3.16B
Other Receivables	808M	558M	567M	551M	1.1B
Notes Receivable	-	-	-	-	-
Total Receivables	4.28B	3.58B	3.36B	3.54B	4.26B
Inventory	260M	242M	282M	322M	345M
Prepaid Expenses	-	-	-	-	-
Other Current Assets, Total	5.45B	922M	1.15B	1.24B	1.31B
Total Current Assets	14.11B	10.81B	14.07B	10.23B	10.88B
Gross Property Plant And Equipment	85.08B	84.36B	85.86B	91.17B	94.73B
Accumulated Depreciation	-65.58B	-66.23B	-67.7B	-71.58B	-74.52B
Net Property Plant And Equipment	19.5B	18.13B	18.16B	19.59B	20.21B
Long-term Investments	2.12B	4.8B	5.17B	2.21B	1.74B
Goodwill	23.08B	22.85B	18.57B	19.11B	19.17B
Other Intangibles, Total	7.67B	6.74B	7.15B	7.66B	7.12B
Accounts Receivable Long-Term	51M	43M	45M	49M	112M
Deferred Tax Assets Long-Term	942M	7.5B	3.51B	769M	701M
Deferred Charges Long-Term	1.6B	1.6B	1.83B	1.8B	1.8B
Other Long-Term Assets, Total	1.03B	769M	683M	608M	430M
Total Assets	70.1B	73.23B	69.19B	62.03B	62.16B
Liabilities
Accounts Payable, Total	4.32B	4.13B	5.16B	5.3B	5.44B
Accrued Expenses, Total	962M	867M	834M	1.18B	1.42B
Current Portion of Long-Term Debt	3.18B	3.68B	5.94B	5.04B	5.77B
Current Portion of Leases	639M	631M	651M	870M	838M
Current Income Taxes Payable	84M	271M	295M	34M	27M
Unearned Revenue Current, Total	944M	827M	823M	899M	879M
Other Current Liabilities	1.79B	761M	2.66B	825M	1.65B
Total Current Liabilities	11.93B	11.17B	16.36B	14.14B	16.02B
Long-Term Debt	25.6B	23.66B	23.44B	21.74B	21.28B
Long-Term Leases	4.58B	4.2B	4.06B	4.6B	4.74B
Unearned Revenue Non Current	966M	860M	723M	688M	707M
Pension & Other Post Retirement Benefits	1.18B	724M	699M	684M	511M
Deferred Tax Liability Non Current	248M	277M	245M	84M	83M
Other Non Current Liabilities	2.97B	3.51B	1.62B	1.37B	1.3B
Total Liabilities	47.48B	44.39B	47.15B	43.3B	44.65B
Common Stock, Total	11.68B	11.68B	11.68B	11.68B	11.68B
Additional Paid In Capital	2.09B	2.13B	2.13B	2.13B	575M
Retained Earnings	916M	7.22B	-8.65B	-2.92B	-1.44B
Treasury Stock	-90M	-89M	-63M	-63M	-57M
Comprehensive Income and Other	5.68B	5.27B	12.32B	4.24B	2.89B
Total Common Equity	20.28B	26.22B	17.41B	15.06B	13.65B
Minority Interest	2.35B	2.62B	4.62B	3.66B	3.87B
Total Equity	22.63B	28.84B	22.04B	18.72B	17.51B
Total Liabilities And Equity	70.1B	73.23B	69.19B	62.03B	62.16B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	21.07B	21.2B	21.24B	21.24B	21.25B
ECS Total Common Shares Outstanding	21.07B	21.2B	21.24B	21.24B	21.25B
Book Value / Share	0.96	1.24	0.82	0.71	0.64
Tangible Book Value	-10.47B	-3.37B	-8.3B	-11.71B	-12.65B
Tangible Book Value Per Share	-0.5	-0.16	-0.39	-0.55	-0.6
Total Debt	34B	32.16B	34.1B	32.24B	32.64B
Net Debt	29.88B	26.09B	24.82B	27.11B	27.67B
Debt Equivalent Oper. Leases	3.42B	3.49B	4.82B	6.38B	7.48B
Minority Interest, Total (Incl. Fin. Div)	2.35B	2.62B	4.62B	3.66B	3.87B
Equity Method Investments, Total	11M	2.73B	2.98B	539M	537M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	1M	2M	2M	2M	2M
Inventories - Work In Process, Total	2M	2M	5M	8M	2M
Inventories - Finished Goods, Total	257M	238M	246M	274M	314M
Inventories - Others	-	-	29M	38M	27M
Land - (BS)	226M	229M	232M	232M	229M
Buildings, Total	1.89B	1.91B	1.96B	2.05B	2.05B
Machinery, Total	70.6B	70.12B	70.85B	74.15B	76.6B
Full Time Employees	55.2K	52.34K	51.91K	50.38K	47.15K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	757M	627M	565M	499M	463M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	916M	7.22B	-8.65B	-2.92B	-1.44B
Depreciation & Amortization - CF	3.25B	2.99B	2.98B	3.26B	3.32B
Amortization of Goodwill and Intangible Assets - (CF)	1.68B	1.63B	1.51B	1.52B	1.54B
Depreciation & Amortization, Total	4.93B	4.62B	4.49B	4.78B	4.86B
(Gain) Loss From Sale Of Asset	47M	-441M	-120M	-242M	-35M
(Gain) Loss on Sale of Investments - (CF)	31M	-	-	-	-
Asset Writedown & Restructuring Costs	-	36M	4.12B	9M	-6M
(Income) Loss On Equity Investments - (CF)	3M	-18M	-38M	-23M	29M
Net Cash From Discontinued Operations	16M	-	-	-	-
Other Operating Activities, Total	335M	128M	252M	271M	334M
Change In Accounts Receivable	-	484M	257M	-81M	-39M
Change In Inventories	129M	20M	-39M	-35M	-31M
Change In Accounts Payable	-181M	-231M	337M	484M	191M
Change In Income Taxes	114M	708M	-313M	-478M	-21M
Change In Deferred Taxes	-	-6.54B	3.89B	2.64B	148M
Change in Other Net Operating Assets	-387M	563M	150M	493M	-48M
Cash from Operations	5.95B	6.55B	4.34B	4.9B	3.94B
Capital Expenditure	-3.65B	-3.48B	-4.01B	-6.3B	-3.97B
Sale of Property, Plant, and Equipment	14M	678M	4M	62M	11M
Cash Acquisitions	-	-7M	-	-1.32B	19M
Divestitures	125M	-33M	172M	1.28B	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-4M	-11M	-100M	-26M	-49M
Net (Increase) Decrease in Loans Originated / Sold - Investing	231M	-251M	-1.18B	969M	-919M
Other Investing Activities, Total	28M	24M	3M	3M	758M
Cash from Investing	-3.26B	-3.08B	-5.12B	-5.34B	-4.15B
Short Term Debt Issued, Total	-	-	704M	-	241M
Long-Term Debt Issued, Total	4.53B	1.47B	4.08B	2.29B	4.04B
Total Debt Issued	4.53B	1.47B	4.79B	2.29B	4.28B
Short Term Debt Repaid, Total	-545M	-1.77B	-	-436M	-
Long-Term Debt Repaid, Total	-4.41B	-2.79B	-3.07B	-4.62B	-4.61B
Total Debt Repaid	-4.96B	-4.56B	-3.07B	-5.05B	-4.61B
Issuance of Common Stock	10M	1.16B	-	2M	-
Common Dividends Paid	-279M	-390M	-368M	-68M	-189M
Common & Preferred Stock Dividends Paid	-279M	-390M	-368M	-68M	-189M
Other Financing Activities, Total	-415M	308M	1.82B	-40M	62M
Cash from Financing	-1.11B	-2.01B	3.16B	-2.87B	-456M
Foreign Exchange Rate Adjustments	-10M	-159M	13M	-40M	18M
Net Change in Cash	1.57B	1.31B	2.4B	-3.35B	-643M
Supplemental Items
Cash Interest Paid	1.75B	1.52B	1.44B	1.67B	2.1B
Cash Income Tax Paid (Refund)	118M	-223M	242M	-164M	117M
Levered Free Cash Flow	-985M	5.84B	3.64B	-3.49B	1.03B
Unlevered Free Cash Flow	-160M	6.57B	4.33B	-2.67B	2.11B
Change In Net Working Capital	3.42B	-4B	-2.86B	1.84B	-366M
Net Debt Issued / Repaid