8 Nov 2019
Telecom Italia (TIM) has reported revenues of EUR4.43 billion (USD4.9 billion) for the third quarter of 2019, a drop of 6.1% year-on-year. Service revenues fell 5.7% to EUR4.06 billion, while group organic EBITDA was down 4.5% y-o-y at EUR1.98 billion and EBIT fell 13.5% to EUR878 million. While sales in Italy fell 8.2% to EUR3.45 billion, there was a better performance in Brazil, with Q3 revenues rising 2.2% to EUR984 million.
In Italy, TIM had 31.25 million mobile lines in service at the end of September, including 9.84 million M2M connections. Fixed broadband retail subscriptions numbered 7.53 million at the same date. TIM Brasil claimed 54.53 million mobile customers as of Q3 2019, down 3.0% on an annual basis.
Separately, a story from Bloomberg says that TIM could drop Nokia as a 5G equipment partner in Italy, instead relying on Ericsson and Huawei. An unnamed source said that the telco is concerned that Nokia is lagging behind its rivals when it comes to 5G technology. Nokia currently provides around 30% of TIM’s wireless equipment in Italy.