Revenues drop in Q3 for TIM Group

11 Nov 2020

Telecom Italia Group (TIM Group) has reported revenues of EUR3.90 billion (USD4.61 billion) for the three months to end-September 2020, down 12.0% year-on-year on a reported basis and a fall of 5.0% on an organic basis. The company said this was an improvement on the 10.1% fall recorded in the previous quarter. Organic EBITDA after lease costs was down 7.9% at EUR1.76 billion. Net profit attributable to shareholders stood at EUR500 million in the third quarter, up from EUR301 million in the year-earlier period.

TIM had 7.52 million retail fixed broadband customers in its home market at the end of September, down slightly from 7.53 million a year before. The domestic mobile business counted 19.89 million subscribers at the same date, down from 21.41 million users as of September 2019. M2M connections rose from 9.84 million to 10.27 million. In Brazil, TIM registered a 6.2% annual drop in subscriber numbers to 51.16 million.

Brazil, Italy, Telecom Italia Group (TIM Group)