Q2 sales drop 1.4% for TIM Group

4 Aug 2022

Telecom Italia Group (TIM Group) has reported revenues of EUR3.91 billion (USD3.98 billion) for the second quarter of 2022, down 1.4% year-on-year on a comparable basis. Service revenues climbed 1.0% to EUR3.64 billion, with a 7.4% decline in Italy offset by a strong performance in Brazil thanks to the inclusion of operations acquired from Oi. Group EBITDA dropped 8.5% to EUR1.56 billion. In the first half of 2022 net loss stood at EUR360 million, widening from EUR57 million in H1 2021.

TIM Italy claimed 18.62 million mobile subscriptions at the end of June 2022, excluding M2M, down from 19.31 million a year earlier. Retail fixed broadband subscriptions fell from 7.78 million at mid-2021 to 7.56 million twelve months later. In Brazil, TIM’s subscription base jumped from 51.34 million to 68.70 million in the year to 30 June 2022 thanks to the addition of roughly 16 million former Oi subscriptions.

Brazil, Italy, Telecom Italia Group (TIM Group)