Sales stable at TIM Group in Q1; continues appeal against EUR116m fine

20 May 2021

Telecom Italia Group (TIM Group) has reported organic first quarter revenues of EUR3.75 billion (USD4.58 billion), unchanged from a year earlier, though service revenues were down 2.5% at EUR3.39 billion. The firm said the stabilisation of turnover was an improvement on the year-on-year declines registered in the three previous quarters. Organic EBITDA stood at EUR1.60 billion, a decrease of 1.3% but in line with expectations. Net profit excluding non-recurring items was EUR116 million, falling from EUR178 million in Q1 2020.

TIM Italy had 19.55 million mobile lines in service at the end of March 2021, plus a further 10.67 million M2M connections at the same date. Domestic retail broadband lines in service stood at 7.75 million. In Brazil, meanwhile, TIM claimed 51.73 million wireless subscribers at end-March, down from 52.83 million a year earlier.

Separately, the group confirmed the payment of a EUR116 million fine handed out in March 2020. The penalty was imposed after the Competition Authority (Autorita Garante della Concorrenza e del Mercato, AGCM) ruled that the former monopoly had carried out a ‘premeditated anti-competitive strategy’ which hampered its rivals’ efforts to gain market share in the broadband sector. TIM says while it has paid the required fine, its appeal against the ruling will be heard by an administrative court in November.