Yearly data
  Historical Data Consensus as of 20 July 2017
P&L 2014 PF 2015 PF 2016 2017 2018 2019
Revenue 314,0 318,9 333,5 349,3 369,6 388,9
   TIM 253,0 253,3 253,0 258,1 261,2 263,8
   3rd party rev 61,0 65,6 78,2 86,6 92,6 96,4
   New sites & New Services - - 2,3 4,6 15,9 28,7
OPEX (179,4) (174,7) (169,9) (165,6) (162,7) (162,1)
   Lease Cost (154,4) (150,7) (141,2) (135,3) (129,6) (126,3)
   Other Operating Costs (20,7) (19,0) (22,1) (22,6) (25,0) (27,4)
   Personnel Costs (4,3) (5,1) (6,6) (7,7) (8,1) (8,4)
EBITDA 134,6 144,3 163,3 183,7 206,9 226,8
D&A (10,1) (11,7) (13,5) (15,2) (19,0) (21,4)
WriteOff - (5,2) (2,8) (3,7) (3,6) (2,2)
EBIT 124,5 127,4 147,3 164,8 184,3 203,1
Financial Expenses (3,6) (3,7) (3,5) (3,4) (3,9) (4,7)
Taxes & Others (38,7) (39,8) (45,8) (47,2) (52,8) (58,4)
NET INCOME 82,2 83,9 97,9 114,3 127,6 140,1
             
             
Cash Flow 2014 PF 2015 PF 2016 2017 2018 2019
EBITDA   108,2 163,6 183,7 206,9 226,8
CAPEX   (12,5) (43,6) (80,3) (128,3) (64,6)
Change in Net Working Capital, Fund Utilization and Others   (22,5) 6,8 (16,3) (4,1) (1,5)
opFCF   73,2 126,9 87,1 74,5 160,6
Financial Exp. (Cash out)   (1,3) (1,9) (2,1) (2,6) (3,5)
Taxes & Others (Cash out)   - (54,6) (49,7) (53,1) (58,5)
FCF to equity   72,0 70,4 35,3 18,8 98,6
Dividend   - (56,7) (88,1) (102,8) (114,9)
FCF   72,0 13,7 (52,8) (84,1) (16,3)
             
Net Debt - EoP 120,0 48,0 34,3 87,1 171,2 187,5

 

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DISCLAIMER:

The financial information of INWIT has been prepared in accordance with the International Financial Reporting Standards issued by the International Accounting Standards Board and endorsed by the European Union (designated as “IFRS”).

 

INWIT was incorporated on January 14, 2015 and the Tower Business was contributed to it from the Telecom Italia Group effective as of April 1, 2015.

 

FY14 Pro Forma data pertains to the Prospectus for the IPO and was determined as historical data plus adjustments as if the Transaction had virtually taken place on January 1st, 2014.

 

For the purpose of the reconciliation 2015 Annualized data has been calculated as 133% of the FY2015  financial results (April-December 2015).

 

The Consensus table shows the consensus data calculated as the arithmetic average of the most recent estimates of Inwit’s key financial data made by some independent analysts. Please note that twelve analysts have updated and agreed to present their estimates following the last results presentation. The consensus data contained in the table have information purposes and do not represent a recommendation or solicitation or invitation to buy, sell or keep Inwit’s financial instruments. These data represent forecasts made by these independent analysts and do not represent Inwit’s management opinions, estimates or forecasts. Inwit is not liable for the completeness and reliability of the consensus data shown in the table.

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