TIM Brasil reports USD128m profit in Q4

27 Feb 2009

Brazilian mobile operator TIM Participacoes (TIM Brasil) reported net profit of BRL300 million (USD127.9 million) in the fourth quarter of 2008 up from BRL181 million in the same period of 2007, bolstered by a steady rise in its subscriber base. The operator, a unit of Telecom Italia, said earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to BRL928 million in the fourth quarter, a 4.2% rise from the same quarter of 2007, on revenues of BRL3.5 billion, up 5% year-on-year. TIM Brasil added a net 1.2 million users in the last three months of 2008, lifting its overall subscriber base to 36.4 million.

Brazil, TIM Brasil