Telecom Italia CEO sees scope for improving 2023, 2024 financial targets

Telecom Italia (TIM) (TLIT.MI) 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.