TIM sees H1 sales drop 4.4%

2 Aug 2019

Telecom Italia Group, which trades in Italy and Brazil under the TIM brand, has reported revenues of EUR8.99 billion (USD9.94 billion) for the first half of 2019, down 4.4% on a comparable basis due to declines in both Italy and Brazil. Comparable EBITDA for the first six months of 2019 climbed 8.9% year-on-year to EUR4.07 billion (EUR4.39 billion on a reported basis). Reported net profit attributable to shareholders rose from EUR532 million in H1 2018 to EUR551 million this year.

TIM had 21.96 million active mobile subscribers in Italy at the end of June, plus a further 9.71 million M2M connections. TIM Brasil had 54.97 million users at the same date, down 2.8% year-on-year.