Siemens Opens Its Largest Global Research Hub
Siemens has opened the first building complex of its Technology Center (STC) at Garching Research Campus, north of Munich, Germany.
4Q20 performance is an indicator that the transformation efforts are beginning to show results, Telekom Italia said in a financial report. Net profit for the period surged on the back of a tax realignment.
The operator said in a statement that it had spent two years streamlining its organisational structure, optimising processes and undergoing a major repositioning of the business with the creation of new development opportunities, thanks to key strategic agreements. It said the commercial strategy implemented since 2018 had led to a stabilisation of service revenue in the fixed-line segment during 4Q20, while the first signs of rationality in the mobile market were felt.
Overall revenue amounted to €4.1 billion, down 2.1 percent year-on-year, while service revenue dipped 1.2 percent to €3.7 billion. Domestic revenue hit €3.4 billion, down slightly from €3.6 billion, while the figure in Brazil fell 2 percent to €725 million.
The main bright spot for the quarter was net profit of €6 billion, up from €64 million, mainly due to a domestic tax realignment. Excluding this effect, net profit would have been €1.3 billion. Net financial debt fell by €4.3 billion to €23.3 billion, while the number of mobile lines stood at 30.2 million, down slightly from 30.9 million. The company confirmed a dividend of €0.01 per ordinary share for 2021.