Latest news with #PiergiorgioPeluso
Reuters
05-08-2025
- Business
- Reuters
Telecom Italia posts 5% rise in H1 core earnings
Aug 5 (Reuters) - Telecom Italia (TIM)( opens new tab reported a 5% increase in its core earnings for the first half of the year on Tuesday, as its fast-growing Brazilian business offset sluggish growth in Italy. The company named Piergiorgio Peluso as CFO to replace Adrian Calaza, confirming an earlier report. Peluso, CFO of motorway operator Autostrade per l'Italia, had previously served as TIM CFO for seven years until 2019. His appointment is effective as of November 6. TIM added that its Chief Public Affairs and Security Officer Eugenio Santagata had resigned, effective immediately. According to an earlier report, Italian shipbuilder Fincantieri ( opens new tab is poised to appoint Santagata to head its defence division. TIM, the heir to Italy's phone monopoly, this year returned to state-backed hands with financial conglomerate Poste Italiane ( opens new tab replacing France's Vivendi ( opens new tab as its single largest investor with a 24.8% stake. Having sold its prized landline network last year, in a move aimed at slashing debt, TIM is expected to play a role in the long-awaited consolidation of Italy's telecoms sector, which has been under pressure for years amid stiff price competition. Italy's biggest telecoms group said its EBITDA after leases rose to 1.7 billion euros ($2.0 billion) in the first half of the year. Around 0.8 billion euros came from its Brazilian business, up 6.1% from the year before. Its domestic EBITDA after leases came in at 1 billion euros, up 4.2% from the year before. Total revenues for the semester came in at 6.6 billion euros. TIM's net debt after leases stood at 7.5 billion euros as of June 30. TIM confirmed the annual financial targets it had provided in February, including a return to cash generation and a 7% growth in group's core profit. ($1 = 0.8655 euros)
Reuters
18-07-2025
- Business
- Reuters
Autostrade CFO Peluso to return to Telecom Italia as finance chief, sources say
MILAN, July 18 (Reuters) - Piergiorgio Peluso, Chief Financial Officer of motorway operator Autostrade per l'Italia, is set to take over the top finance job at Telecom Italia (TIM) ( opens new tab, two sources told Reuters on Friday. Peluso, 57, previously served as TIM's CFO for seven years until 2019. He will rejoin the former phone monopoly next month, the people said. Spokespeople for TIM and Autostrade per l'Italia declined to comment. TIM had been searching in recent months for a successor to current CFO Adrian Calaza, as he is expected to leave the company later this year, sources previously told Reuters. Calaza, an Argentine national and former CFO of TIM's Brazilian unit ( opens new tab, took on the job of group finance chief in 2022. He oversaw last year's landmark sale of TIM's fixed-line network to a consortium led by U.S. investment firm KKR (KKR.N), opens new tab, a deal aimed at slashing the company's debt by 14 billion euros ($16.32 billion). Peluso's return to TIM is expected to be announced on August 5, when TIM's board meets to approve first-half results. He will assume the CFO role at a later date, one of the sources added. In May, TIM returned to state-backed hands, with financial conglomerate Poste Italiane ( opens new tab replacing France's Vivendi as the company's largest shareholder, with a 24.8% stake. ($1 = 0.8580 euros)
