TIM Brazil reduces losses on back of strong EBITDA performance

26 Jul 2006

Brazil’s second largest operator by subscribers, TIM Participações, has recorded a net loss of BRL249 million (USD115 million) for the second quarter of 2006, down by 25% from the corresponding figure in 2005. The improved performance comes on the back of a 12% rise in net revenue to BRL2.3 billion and a 73% hike in EBITDA to BRL500 million. According to BNamericas, the cellco made investments of BRL351 million in 2Q06, 64% of which went into expanding the capacity of its GSM network, 13% to developing and improving IT systems and 23% to an expansion and loyalty-building program for the business segment. The number of subscribers reached 22.3 million.

Brazil, TIM Brasil