TI Sparkle posts half year results

TI Sparkle posts half year results

The international wholesale arm of Telecom Italia, TI Sparkle, has posted half year revenues of €709 million, up €67 million from 2011.

The 10.4% growth has been attributed to the company’s voice services, which grew by 15.7%, and its IP/data segment, which grew by 8.6%.

All areas of business were said to be affected by sharp pricing pressures owing to the competitiveness of the global market, as well as by rationalisation measures based on a more selective customer portfolio and traffic strategy.

TI Sparkle’s parent group, Telecom Italia, posted a 1.6% drop in its first half earnings. Revenues for the half stood at approximately €14.8 million, with adjusted net debt falling by €800 million to €30.36 billion at the end of June compared to a year earlier.

"Although the macroeconomic and financial picture does not look likely to improve in the coming months, either in Italy or Latin America, we will not allow it to threaten our stated objectives, above all debt reduction,” said Telecom Italia’s chairman and CEO, Franco Bernabe.

“We shall exploit all the flexibility that the various levels of management allow, in the knowledge that the exceptionally complex situation which we are currently facing demands not only coherence and rigour, but also the ability to find new directions to continue to pursue the growth path which, with the latest planned investments, we have embarked upon,” he added.

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