Tim closes the first quarter of 2021 with a red of 200 million euros. The company communicates this in a note, explaining that the loss is due to non-recurring items. In particular, he weighed theprovision intended for outgoing personnel for early and voluntary retirement expected in the second quarter of this year (about 1.300 people). Net of this effect, the net result is positive by 100 million.
As for the revenues, are in line with the previous year, at 3,8 billion. Domestic landline telephony revenues grew by 3%, while revenues from group services stopped at 3,4 billion euros, down by 2,5% on the year. However, the trend is better than that recorded in the fourth quarter of 2020, when the decrease was 5,6%.
In the business segment, it accelerated revenue growth related to innovative services (+30%), also thanks to the contribution of the partnership with Google Cloud.
In the Domestic Wholesale sector, on the other hand, revenues from services of fixed telephony in the first quarter of 2021 they increased by 8,7%, benefiting from the continuous migration of customers towards ultrabroadband.
On the profitability front, the organic ebitda it stands at 1,6 billion, down 1,3% year-on-year. The EBITDA after lease amounted to 1,4 billion euros (-1,7%): 1,2 billion euros domestically (-2,6%) and 0,2 billion euros for Tim Brasil (+3,9% ).
THEnet financial debt after lease is equal to 16,6 billion, a figure lower than 5,1 billion compared to the same period last year and by two billion compared to the previous quarter.
In Brazil revenues from services continued to grow (+3,3%) and the efficiencies achieved contributed to organic EBITDA growth of 4,8% year-on-year (+3,9% on an after lease basis). The group's organic EBITDA stood at 1,6 billion (-1,3%) and that of the Domestic Business Unit at 1,3 billion (-2,6% compared to the previous year). Both results are up, net of some discontinuities in labor costs, such as the application of the expansion contract, already present in the first quarter of 2020 and which will start in May during this year.
Finally, as regards the forecasts for the current year, Tim confirms the goals communicated with the approval of the 2021-2023 “Beyond Connectivity” strategic plan.
Tim then announces that he has signed a partnership with Dazn which will bring the matches of the Serie A for the 2021-2024 seasons. Through this agreement, active from July 2021, an acceleration in the transition of users to ultra-broadband is expected. At the same time, the agreement will make it possible to enhance the country's digitization process and support the Serie A Football League in the fight against piracy.
