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

TELECOM ITALIA S.P.A.

(TIT)
  Report
Delayed Quote. Delayed Italian Stock Exchange - 03/05 11:36:53 am
0.4 EUR   +0.50%
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Telecom Italia S p A : TIM LAUNCHES NOOVLE SPA, THE BIGGEST CLOUD PROJECT FOR...

01/25/2021 | 05:50am EST

TIM announces the birth of Noovle SpA, the new company wholly owned by the TIM Group intended to become an Italian centre of excellence for Cloud and edge computing, boosting the offer of TIM's innovative public, private and hybrid cloud services to businesses - from SMEs to large industry - and public administration, accelerating the digital transformation of the country.

The cloud company, which is the result of the experience and digital skills of the TIM Group, its associated Data Centres and the specialised professionalism of Noovle Srl, a company acquired by TIM last May and one of the main Google Cloud partners in the Italian market, will focus on the supply of innovative and bespoke Multicloud services and solutions to TIM customers, ranging from the management of network infrastructure in its Data Centres, to design and support services, migration to the cloud and support for the related management activities, using the most advanced technologies based on artificial intelligence and the Internet of Things. The services offered will allow customers to face the challenges of the digital transformation and improve the user experience. Noovle wants to support companies in their cloud transformation projects and therefore bring innovation to the world of work and the digital experience. All these services will have security at their core.

The Noovle senior team consists of the following: Mariarosaria Taddeo,Non-Executive Chairman, and Carlo D'Asaro Biondo, CEO. Ms Taddeo, associate professor at the University of Oxford and a leading expert in digital technologies and Artificial Intelligence, is Senior Research Fellow and deputy director of the Digital Ethics Lab at the Oxford Internet Institute, Oxford University. Carlo D'Asaro Biondo joined TIM last April with the aim of implementing the Group's Cloud activities and its strategic partnerships, including the one with Google.

Thanks to a proprietary network of 17 state-of-the-art Data Centres distributed across the country - built according to the most advanced technological and safety standards and the most recent environmental sustainability best practices, in compliance with the Group's ESG objectives - the company will offer innovative resources and services to manage servers, data and information in a secure cloud environment located in Italy.

In particular, TIM will entrust Noovle with the task of building six new Data Centres specialised in the provision of public and hybrid cloud services, with TIER IV certification, and managing seven Core Data Centres and four service centres, already in operation, for the widest range of IT solutions, located across the country, from which TIM's Cloud, hybrid Cloud and Multicloud services are provided. A cutting-edge infrastructure that will cover a total area of over 50,000 square metres nationally by 2022, with a capacity of up to 100 MW of usable IT power, closely integrated with TIM's primary fibre optic network to ensure a structural reduction of interconnection latency between services.

Noovle is being launched today with around 1,000 professionals and estimates that it will achieve a turnover of 1 billion euros in 2024 with an average annual growth rate of around 20% and an expected EBITDA of around 400 million euros.

The strategic decision to concentrate TIM's cloud services in Noovle is part of a bigger programme of major technological investments the TIM Group is making to develop the latest generation network infrastructure, key Information Technology and cloud services to support the digitisation of the country's production and administrative fabric.

'I am proud to announce the birth of Noovle SpA and to share this project with our Chairman Mariarosaria Taddeo. This is a fundamental project for the digitalisation of the country, intended to create the appropriate infrastructure for our businesses to grow. We are establishing a company with an extensive, healthy and solid base, and thanks to the transfer of TIM's Data Centres, and to the one thousand cloud professionals who have joined us, we can look to the future with ambition. Our goal will be to focus right now on bringing value to citizens, businesses and public administration', commented Noovle SpA's Chief Executive Officer Carlo d'Asaro Biondo.

Noovle will strengthen the alliance already launched between the TIM Group and Google Cloud and will also make use of important strategic partnerships with the main industry leaders including Atos, Cisco, Citrix, Microsoft, Salesforce, SAP and VMware.

Rome, 25 January 2021

Disclaimer

Telecom Italia S.p.A. published this content on 25 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 January 2021 10:49:01 UTC


© Publicnow 2021
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Financials
Sales 2020 15 841 M 18 868 M 18 868 M
Net income 2020 1 154 M 1 375 M 1 375 M
Net Debt 2020 22 835 M 27 199 M 27 199 M
P/E ratio 2020 7,81x
Yield 2020 2,76%
Capitalization 8 744 M 10 417 M 10 415 M
EV / Sales 2020 1,99x
EV / Sales 2021 1,99x
Nbr of Employees 52 464
Free-Float 72,3%
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 0,53 €
Last Close Price 0,40 €
Spread / Highest target 113%
Spread / Average Target 31,5%
Spread / Lowest Target -42,5%
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Managers and Directors
NameTitle
Luigi Gubitosi Chief Executive Officer & Executive Director
Giovanni Ronca Chief Financial Officer
Salvatore Rossi Chairman
Michele Gamberini Chief Technology & Information Officer
Herculano Aníbal Alves Chief Technology Officer
Sector and Competitors