Italy’s INWIT confirms guidance as outlook remains positive

MILAN: Italian mobile mast company INWIT said on Thursday it expected its core profit to grow in line with its long-term guidance this year, as its business remained broadly unaffected by the coronavirus crisis.

Jointly-controlled by Italy’s largest phone group Telecom Italia (TIM) and Vodafone, INWIT said fourth-quarter earnings before interest, tax, depreciation and amortization (EBITDA) rose 82% to 171.3 million euros ($205.22 million).

The figure includes the contribution from Vodafone’s mobile tower Italian unit, with which INWIT merged last year.