Fibercop Reports Revenue Decline, Leadership Transition Underway
Fibercop's Q1 revenue fell to €888 million, a 3.7% decrease year-on-year. The company is planning a leadership succession as it seeks to diversify revenues by transforming former Telecom central offices into data centers.
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Fibercop has reported a 3.7% decline in revenue for the first quarter, totaling €888 million, alongside a similar decrease in EBITDA before financial leases at €391 million. The company is preparing for a leadership transition, with KKR, its majority shareholder, engaging Spencer Stuart to identify potential candidates for the CEO position.
Possible candidates include Stefano Donnarumma, Paolo Bertoluzzo, Pietro Labriola, and Marco Patuano. Concurrently, Fibercop aims to convert 150 former Telecom central offices into data centers, enhancing its edge computing capabilities within 40 kilometers of major Italian cities. This diversification strategy is essential for revenue growth amid declining core earnings.
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