MILAN (Reuters) – Telecom Italia (TIM) will likely improve its financial targets for the next two years, the head of Italy’s biggest phone group told top executives on Wednesday, according to a company spokesperson.
Pietro Labriola made the comments during a meeting with top executives of the former phone monopoly, according to the spokesperson.
Hit by a string of profit warnings last year, in August debt-laden TIM trimmed its expected 2022 core profit drop.
Labriola said TIM was sticking to its 2022 targets, which will likely pave the way to an improvement of its 2023-2024 outlook.
Under current guidance, TIM is targeting a cumulated low single digit decrease of its core profit in the three years to 2024.
(Reporting by Elvira Pollina, editing by Gianluca Semeraro and Agnieszka Flak)
