By Manuela Mesco

MILAN--Telecom Italia said Thursday it swung back to profit last year, posting a EUR1.8 billion net profit for 2016.

The company, which launched last year a much-needed turnaround after years of little growth, said its operating profit grew over 25% in 2016 compared to 2015, to EUR3.7 billion.

The Italian telecom operator said the strong growth was due to fewer nonrecurring items compared with 2015. Earning before interest, tax, depreciation and amortization, or Ebitda, grew 14% to EUR8 billion, the company previously said.

In 2015, the company posted a net loss of EUR70 million.

Write to Manuela Mesco at manuela.mesco@wsj.com

(END) Dow Jones Newswires

March 23, 2017 13:43 ET (17:43 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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