Finance
Telecom Italia posts 5% rise in H1 core earnings
Published by Global Banking & Finance Review®
Posted on August 5, 2025
2 min readLast updated: January 22, 2026
Quick Summary
Telecom Italia's core earnings rose by 5% in H1, driven by Brazilian growth. New CFO Piergiorgio Peluso appointed, while Santagata resigns.
Telecom Italia Sees 5% Growth in Core Earnings for First Half
Telecom Italia's Financial Performance
(Reuters) -Telecom Italia (TIM) reported a 5% increase in its core earnings for the first half of the year on Tuesday, as its fast-growing Brazilian business offset sluggish growth in Italy.
Key Financial Metrics
The company named Piergiorgio Peluso as CFO to replace Adrian Calaza, confirming an earlier report. Peluso, CFO of motorway operator Autostrade per l'Italia, had previously served as TIM CFO for seven years until 2019. His appointment is effective as of November 6.
Management Changes
TIM added that its Chief Public Affairs and Security Officer Eugenio Santagata had resigned, effective immediately.
Market Context
According to an earlier report, Italian shipbuilder Fincantieri is poised to appoint Santagata to head its defence division.
WHY IT’S IMPORTANT
TIM, the heir to Italy's phone monopoly, this year returned to state-backed hands with financial conglomerate Poste Italiane replacing France's Vivendi as its single largest investor with a 24.8% stake.
Having sold its prized landline network last year, in a move aimed at slashing debt, TIM is expected to play a role in the long-awaited consolidation of Italy's telecoms sector, which has been under pressure for years amid stiff price competition.
BY THE NUMBERS
Italy's biggest telecoms group said its EBITDA after leases rose to 1.7 billion euros ($2.0 billion) in the first half of the year. Around 0.8 billion euros came from its Brazilian business, up 6.1% from the year before.
Its domestic EBITDA after leases came in at 1 billion euros, up 4.2% from the year before.
Total revenues for the semester came in at 6.6 billion euros.
TIM's net debt after leases stood at 7.5 billion euros as of June 30.
TIM confirmed the annual financial targets it had provided in February, including a return to cash generation and a 7% growth in group's core profit.
($1 = 0.8655 euros)
(Reporting by Philippe Leroy Beaulieu, Elvira Pollina; Editing by Matt Scuffham)
Key Takeaways
- •Telecom Italia reported a 5% increase in core earnings for H1.
- •Brazilian operations contributed significantly to growth.
- •Piergiorgio Peluso appointed as new CFO.
- •Chief Public Affairs Officer Eugenio Santagata resigned.
- •TIM's net debt after leases is 7.5 billion euros.
Frequently Asked Questions about Telecom Italia posts 5% rise in H1 core earnings
1What was the percentage increase in Telecom Italia's core earnings?
Telecom Italia reported a 5% increase in its core earnings for the first half of the year.
2Who has been appointed as the new CFO of Telecom Italia?
Piergiorgio Peluso has been named as the new CFO of Telecom Italia, replacing Adrian Calaza.
3What were the total revenues for Telecom Italia in H1?
Total revenues for Telecom Italia in the first half of the year came in at 6.6 billion euros.
4What is the current net debt of Telecom Italia?
As of June 30, Telecom Italia's net debt after leases stood at 7.5 billion euros.
5What are Telecom Italia's annual financial targets?
Telecom Italia confirmed its annual financial targets, including a return to cash generation and a 7% growth in the group's core profit.
