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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Telecom Italia S.p.A.    TIT   IT0003497168

TELECOM ITALIA S.P.A.

(TIT)
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Italy's Satispay aims to triple users by 2023, grow abroad

11/30/2020 | 03:15am EST

ROME, Nov 30 (Reuters) - Satispay aims to triple its users by the end of 2022 and will use cash from new investors including Jack Dorsey's Square Inc to grow in Italy and abroad, the head of the Italian mobile payment start-up said in a newspaper interview.

"Tripling (users) means increasing transactions five-fold ... and revenues seven-fold," CEO Alberto Dalmasso told newspaper Corriere della Sera's L'Economia Monday supplement.

Founded in 2013, Satispay provides a mobile app for payments in shops and for money exchanges between users. It is used by 1.3 million people and 135,000 shopkeepers and expects revenues of 40 million euros at the of the year, Dalmasso said.

Square Inc, the Californian mobile payments firm created by Twitter's co-founder Dorsey, invested 15 million euros in Satispay earlier this month.

New investors in Satispay, which include U.S. firm LGT Lightstone, China's Tencent and Italy's TIM Ventures, the venture arm of Telecom Italia, will subscribe to a 68 million euro share issue.

Dalmasso said he expected the deal to close by the end of the year and that cooperative banking group Iccrea, which invested in Satispay in 2014, would exit the group's capital.

He said Satispay wanted to become a "point of reference in Europe for the payments sector" and that it aimed to grow internationally, but not through acquisitions.

(Reporting by Giulia Segreti; Editing by Kirsten Donovan)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
SQUARE, INC. -0.22% 227.26 Delayed Quote.4.42%
TELECOM ITALIA S.P.A. -1.94% 0.359 Delayed Quote.-2.99%
TENCENT HOLDINGS LIMITED -0.30% 655 End-of-day quote.16.13%
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Financials
Sales 2020 15 994 M 19 417 M 19 417 M
Net income 2020 1 130 M 1 372 M 1 372 M
Net Debt 2020 23 159 M 28 115 M 28 115 M
P/E ratio 2020 6,74x
Yield 2020 3,16%
Capitalization 7 841 M 9 505 M 9 519 M
EV / Sales 2020 1,94x
EV / Sales 2021 1,85x
Nbr of Employees 52 464
Free-Float 72,3%
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Technical analysis trends TELECOM ITALIA S.P.A.
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 0,52 €
Last Close Price 0,36 €
Spread / Highest target 131%
Spread / Average Target 44,1%
Spread / Lowest Target -35,9%
EPS Revisions
Managers and Directors
NameTitle
Luigi Gubitosi Chief Executive Officer & Executive Director
Salvatore Rossi Chairman
Stefano Siragusa Chief Operations Officer
Giovanni Ronca Chief Financial Officer
Michele Gamberini Chief Technology & Information Officer
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