Sales down 6.4% for TIM in FY 2020

24 Feb 2021

Telecom Italia (TIM) has reported a 6.4% decline in organic revenues in full-year 2020 to EUR15.81 billion (USD19.14 billion), with sales falling 12.1% on a reported basis. EBITDA dropped 17.3% as reported and 5.9% on a comparable basis, to EUR6.74 billion, while net profit jumped from EUR916 million in 2019 to EUR7.22 billion due to one-off items related to a tax realignment. Excluding this effect, the net result would have been EUR1.35 billion, EUR431 million higher than 2019.

The telco said net adds of ultra-broadband subscribers in Italy accelerated sharply in the fourth quarter of 2020, with user numbers growing from 4.13 million at end-September to 4.41 million three months later. The firm claimed 19.80 million domestic mobile customers at end-2020, excluding M2M connections, down from 21.00 million a year earlier, while TIM Brasil saw user numbers decline from 54.45 million to 51.43 million over the same period.

Italy, Telecom Italia Group (TIM Group)