Telecom consolidated revenues 21.5 bn

(ANSA) - Miilan, February 20 - Italian telecommunications company Telecom Italia reported consolidated revenues of 21.5 billion euros in 2014, down 7.8% in organic terms compared with 2013, the company said on Friday in its preliminary release of 2014 figures. Consolidated revenues were down 5.4% in terms of organic change, calculated by excluding the effect of changes in exchange rates and consolidation area. The company reported a consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) of 8.7 billion euros, down 7.9% on 2013, down 6.8% in organic terms.
   Telecom Italia plans to invest around 14.5 billion euros over the next three years in Italy and Brazil, the company said on Friday in a release of its strategic plan for 2015-2017.
Approximately 10 billion euros are slated for Italy, three billion of which will be devoted to development of optic fibre networks, an increase of 1.1 billion euros in this sector compared to the previous strategic plan.
The remainder, more than four billion euros, will be invested in Brazil.
 Telecom Italia plans to reduce its debt-to-EBITDA ratio from the current 3 to 2.5 by 2017, the company said..
The plan said the company's domestic EBITDA stabilisation target for 2016 has been confirmed, and expects increased performance in 2017.
Debt-to-EBITDA ratio is the comparison of financial borrowings to earnings before interest, taxes, depreciation and amortization.