Tim closes the semester in red for 646 million, improving from last year's loss of 813 million. revenues of the group are equal to 7,06 billion (+3%) and theEbitda di 2,64 billion (+23,5%). According to the company, however, these numbers "are not to be considered representative of the group's performance as a going concern, nor of the new ServCo corporate perimeter, which is made up of Tim Consumer, Tim Enterprise and Tim Brasil", specifies a note, recalling that the half-yearly financial report, in application of the accounting principle Ifrs 5, considers the perimeter NetCo, object of sale to Kkr, as a business held for sale (discontinued operations).
Tim, first half-year accounts in loss
The preliminary results announced in July and referred to ServCo have been confirmed and "in light of the performance of the main business segments of the ServCo perimeter in the first six months of 2024, it is guidance confirmed already communicated with the approval of the Tim industrial plan 2024 - 2026".
Tim's board of directors confirmed the preliminary and 'like-for-like'1 operating results for ServCo communicated to the market on July 31. In particular, total revenues amounted to 7,1 billion euros (+3,5%), service revenues to 6,7 billion (+4%), Ebitda to 2,1 billion (+9,4%), Ebitda after lease to 1,8 billion (+13%).
After sale of NetCo, finalized on July 1, ServCo's pro-forma adjusted net debt after lease "is equal to 8,1 billion euros, in line with forecasts" underlines a note. The group also recalls that for the entire financial year it aims for a growth in revenues of 3-4%, a growth in Ebitda after lease of 8-9% and a net financial debt after lease lower than or equal to 2 times the Ebitda after lease and equal to approximately 7,5 billion euros.
L'ad Peter Labriola It also plans to update the plan (2025-2027) and present it to the market on February 13, together with the preliminary results of the year, after having brought it to board of directors on February 12.
Tim, Agcom towards suspension of replicability obligations
Meanwhile, after the separation of the Tim network, that is the sale of NetCo to Kkr, the obligations for the group on the "replicability of retail offers" could fall, that constraint that the group had to leave competitors reasonable margins. Agcom, as stated in the resolution published on the site, has given the green light to a consultation procedure and in the meantime has suspended the applicability of the regulatory obligations for Tim until the conclusion of the investigation procedure.
Since July 1st, the date of the sale of NetCo, Tim is no longer vertically integrated and has therefore asked the Authority not to be obliged to guarantee the replicability of the offers. Agcom will analyse these structural changes in the market as part of the market analysis investigation procedure started on September 11th (and which will last 180 days) but on September 2nd Tim wrote again to the Authority asking for an urgent intervention "to safeguard competition and, ultimately, to protect the general interests of users" and Agcom agreed with it. Anyone who has observations on this decision has 15 days to respond (within the11 October) to send them to the Authority.
