MILAN (Reuters) – Telecom Italia said its domestic energy consumption was expected to be flat in 2023, with measures to curb consumption offsetting growing data centre infrastructure and network expansion.
In slides alongside a quarterly results presentation, TIM said its domestic energy costs were almost all hedged this year and hedged for around 75% for 2023.
Core profit at TIM fell 11% in the third quarter from a year earlier as shrinking domestic revenues outweighed cost cuts and the contribution from TIM’s Brazilian unit.
(Reporting by Elvira Pollina; Writing by Keith Weir; Editing by Agnieszka Flak)
