Inwit Posts First Earnings Data Since Being Listed by Telecom Italia

By Manuela Mesco

MILAN--Infrastrutture Wireless Italiane SpA (INW.MI), or Inwit, the tower company recently listed by Telecom Italia SpA, said Tuesday its revenues from April to June 30 were 78.96 million euros ($87.23 million), 80% of which was derived from a contract with Telecom Italia.

Inwit was established in January and released data for the period from April to June only--therefore no comparison data are available for the period, the company said. According to data submitted to regulators for the approval of its initial public offering, Inwit's revenue in 2014 was EUR314 million.

The telecoms tower company said net profit for the three-month period was EUR21.31 million and its earnings before interest, taxes, depreciation and amortization as of June 30 were EUR34.95 million. It also confirmed its guidance for Ebitda as EUR103.3 million for the period of April to December.

In a statement, Inwit's Chief Executive Oscar Cicchetti said the company is looking at "all opportunities for inorganic growth and consolidation with attention and interest, but without haste."

Telecom Italia completed the sale of its 40% stake in Inwit in June, through an initial public offering, as part of the tower unit's listing on the Italian stock exchange.

Write to Manuela Mesco at [e-mail]

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