Italy's INWIT trims 2023 revenue guidance, ups EBITDA margin after Q3 results

(Reuters) - Italy's biggest telecoms tower firm INWIT on Thursday slightly lowered its full-year revenue guidance but said it expected a wider core profit margin.

The group said revenue growth would be in the lower part of a previously communicated range of 960 million to 980 million euros ($2.08 billion) while it expects its EBITDA margin to be higher than the previously forecast 91%, which was in line with the previous year.

These expectations reflect, among other things, the development of a number of sites, which is accelerating in 2023, the group said in a statement.

INWIT's net profit rose 13.5% in the third quarter to 85.1 million euros, while revenue rose 12.6% from a year earlier to 242 million euros.

($1 = 0.9342 euros)

(Reporting by Federica Urso, editing by Kirsten Donovan)