Waiting to figure out what it will be fate of Tim, good news comes from Brazil for Tim Brazil. Tim's Brazilian subsidiary closed the first quarter of 2023 with strong growth in results, well beyond analysts' expectations. THE revenues they rose 20,2% year-on-year to 5,68 billion reais (more than 1 billion euros), compared to 5,61 billion expected. L'Net income grew by 4,3% to 437 million reais (approximately 79,3 million euro). L'Ebitda Normalized, it stands at 2,61 billion reais (consensus 2,59 billion) up by 23% and margins improving from 44,9% to 46% of turnover. EBIT it increased by 12% to 780 million (estimated at 738 million).
Well the mobile business. Tim Brasil leader of 4G in the country
The increase in revenues comes fromexcellent performance of the mobile business and organic performance. Part of the results also derives from the integration into the Group of the mobile assets of Oi, fourth mobile operator in Brazil. They grow by 18% i clients to 61.721 units. Good results also from fixed with revenues up 6%. UltraFibre rises by 9,4%. Revenues from products mark a +21%. Tim Brasil stays leader in the country for 4G coverage with 5.397 connected cities. 45 cities connected with 5G.
"We started 2023 maintaining the good performance of the last few years and further strengthening our leadership in the telecommunications sector", commented the CEO, Alberto Griselli.
Tim's quarterly tomorrow
To figure out what it will be decision on the Telecom Italia network we'll have to wait for the next one 9nd June, when the deadline for submitting potential improved offers will expire. Tim's board asked for a new raise to the Kkr fund, the only one to have expressed willingness to improve the offer. The mef stated that he would be in favor of ajoint offer by Kkr and Cdp-Macquarie with the involvement in the operation also F2i, the largest independent Italian manager of infrastructure funds.
Meanwhile, tomorrow 10 May 2023, Tim's Board of Directors will meet to approve the financial report for the first quarter of 2023.
Agreement with ERG for the supply of electricity produced from renewable sources
Timthrough its subsidiary Teleenergy, and Erg have subscribed to a new 9-year agreement for the supply of approx 200 GWh / year (Gigawatt hour) of energy produced from renewable sources for the period 2023-2031. Thanks to this agreement, the telecommunications company will cover around 34% of energy purchases from renewable sources through PPAs (Power Purchase Agreements), reinforcing its commitment to using 100% green energy by 2025.
“We are the second largest Italian energy consumer and for this reason it is essential to make choices that aim to solve environmental problems. The new agreement signed with ERG will help us achieve ESG targets we have set ourselves, while stabilizing costs at a time when the macroeconomic scenario remains characterized by uncertainties. The agreement confirms, once again, the importance of creating solid partnerships united by an industrial vision and attention to the environment” declared Peter Labriola, Chief Executive Officer of TIM.
