Telecom Italia announced a loss for 2012 due to goodwill write-downs, while noting that its 2013-2015 plan “confirms our continued commitment to invest in next-generation networks”.

The company reported a consolidated net loss of EUR1.6 billion, compared with a EUR4.8 billion loss in 2011. This was the result of more than EUR4 billion in goodwill write-downs, created following the Oliveti/Telecom Italia deals and the purchase of TIM minorities.

It said that “normalised” profit was EUR2.4 billion, compared with EUR2.5 billion in 2011.

Revenue for the year was EUR29.5 billion, down 1.5 percent from EUR30 billion in 2011. This was due to weakness in TI’s domestic business, partially offset by growth in Argentina and Brazil.

Looking forward, in 2013 the company is anticipating stable revenue, and a “low single digit” percentage reduction in EBITDA.