In the first quarter of the year, Tim Brasil recorded a net profit up 22%, to 372,1 million reais (about 120 million euro). Revenues increased by 20%, reaching 1,5 billion reais, while Ebitda rose by 8%, to 1,32 billion reais. Investments grew by 30%, 95% of which went towards infrastructure improvements.
TELECOM ITALIA: APPLICATION TO THE COUNCIL OF STATE AGAINST ANTITRUST SANCTION CONFIRMED BY THE TAR
News also for the parent company of Tim Brasil, Telecom Italia, which the Lazio Regional Administrative Court confirmed today the fine of over 103 million euros imposed by the Antitrust in May 2013 for alleged abuses of a dominant position in the access services market. The company "intends to reaffirm the correctness of its behavior in terms of equal access to the network by alternative operators", reads a note from Telecom, which "does not share the decision of the Lazio Regional Administrative Court, believing that the administrative judge in first instance did not adequately consider the numerous and articulated grounds for appeal developed in the appeal".
For this reason, Telecom Italia "intends to continue its process of acknowledging the absolute legitimacy of its behavior towards competitors and will challenge the decision of the Tar before the Council of State in the short term".
On the side of Piazza Affari, the Telecom Italia share updates its highs since October 2011, awaiting Monday's board of directors who will approve the first quarter accounts. The stock is the best on the Italian stock exchange in the mid-morning, with an increase of 1%, to 0,951 euro, also thanks to the accounts of the Brazilian subsidiary.
PHONE: 23ST QUARTER PROFIT – XNUMX%, TARGETS CONFIRMED
As for Telefonica – which owns 46,179% of Telco, which in turn controls 22,447% of Telecom Italia – it closed the first quarter of the year with a net profit of 692 million euros, down by 23,28%. compared to the same period of 2013. The decline is mainly due to the negative impact of exchange rates and the sale of some assets, such as the deconsolidation of the Czech Republic. Revenues, on the other hand, grew by 1,5% at an organic level (12,23, XNUMX billion).
In any case, the Spanish telephony giant confirms its targets for 2014 and the dividend. Cash generation was solid, with an annual improvement of 796 million, the best since 2011 for a first quarter. Debt at the end of March fell to 42,724 billion.
