Telecom Italia posts 5.4% core profit rise, debt edges up
MILAN, May 7 (Reuters) - Telecom Italia (TIM) TLIT.MI on Wednesday posted a 5.4% rise in its core earnings in the first quarter but debt at Italy's biggest telecoms group edged up as cash generation was negative in the period.
Earnings before interest, taxes, depreciation and amortisation after lease costs (EBITDA-AL) rose to 815 million euros ($926 million), slightly below an 821 million euro forecast in an analyst consensus provided by the company.
Debt after lease costs rose to 7.5 billion euros as of the end of March, from 7.3 billion euros as of Dec. 31, with equity free cash flow negative by 198 million euros, weighed down by some payments deferred from the previous quarter, in line with analyst expectations.
The company confirmed financial targets provided in February, including the return to cash generation this year.
($1 = 0.8799 euros)
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