Telecom Italia S.p.A. (TIIAY) Q3 2023 Earnings Call Transcript


Telecom Italia S.p.A. (OTCPK:TIIAY) Q3 2023 Earnings Conference Call November 9, 2023 5:00 AM ET

Company Participants

Paolo Lesbo – Head of Investor Relations

Pietro Labriola – Chief Executive Officer

Adrian Calaza – Chief Financial Officer

Agostino Nuzzolo – Head of Legal & Tax, General Counsel, Secretary

Andrea Rossini – Head-Consumer, Small and Medium Market Office

Conference Call Participants

Giorgio Tavolini – Intermonte SIM

David Wright – Bank of America

Domenico Ghilotti – Equita

Luigi Minerva – HSBC

Mathieu Robilliard – Barclays

Andrew Lee – Goldman Sachs

Keval Khiroya – Deutsche Bank

Ben Rickett – New Street Research

Brian O’Brien – UBS

Mark Watts – Citi

Fabio Pavan – Mediobanca

David Gladstone – Millennium

Operator

Ladies and gentlemen, good morning and welcome to Telecom Italia Q3 2023 Results Conference Call. Paolo Lesbo, Head of Investor Relations, will introduce the event.

Paolo Lesbo

Ladies and gentlemen, good morning and welcome to TIM Q3 2023 results presentation. I am here with the CEO, Pietro Labriola; the CFO, Adrian Calaza; and the rest of the management team. The review of Q3 results will be the first topic Pietro and Adrian will cover today, followed by an update on the delayering plan and the Q&A session.

Pointing out our safe harbor disclaimer on page two, let me hand it over to Pietro. Pietro, the floor is yours. Thank you.

Pietro Labriola

Thank you, Paolo. Good morning, everyone. As you all will know, last weekend our board of directors took a milestone decision. We believe that not only will structurally solve the leverage issue the company has been dragging since more than 20 years, but will also allow us to transform it in a sustainable group with a lighter regulatory profile in the domestic unit, and with the ability to allocate resources on growing businesses in Italy and in Brazil. Moreover, we are delivering the



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