Home » Tim accelerates (+ 5.7%) after publication of accounts beyond estimates, in the quarter revenues of € 3.7 billion. Financial debt rises by € 3.3 billion

Tim accelerates (+ 5.7%) after publication of accounts beyond estimates, in the quarter revenues of € 3.7 billion. Financial debt rises by € 3.3 billion

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Tim accelerates (+ 5.7%) after publication of accounts beyond estimates, in the quarter revenues of € 3.7 billion.  Financial debt rises by € 3.3 billion

In Piazza Affari, Tim leaps by almost 6% after yesterday presenting the accounts for the third quarter of 2022 and the first nine months, beating analysts’ expectations. In particular, the group led by Labriola in the first nine months achieved revenues from services of € 10.8 billion, with an increase of 0.5% compared to the same period of 2021.

In the quarter, service revenues amounted to € 3.7 billion, an increase of 3% compared to what was achieved in the same period of 2021 and beating the estimates of analysts who for the 3rd quarter estimated a value of € 3.67 billion .

Organic Ebitda for the group amounted to 4.5 billion euros in the first nine months, while the trend improves on a quarterly basis.

The company reports that it has reached 90% of the cost containment targets for the whole of 2022.

Financial debt worsens which at the end of September 2022 rose to 25.5 billion euros, with an increase of 3.3 billion euros compared to 31 December 2021. However, the company has a solid liquidity position and this after having collected 1.3 billion euros from the sale of the indirect stake in Inwit and in July of another 2 billion relating to the loan concluded with leading banks benefiting from the Sace guarantee.

The growth trend of Tim Brazil continues with revenues from services and Ebitda growing respectively by 18.4% and 16.2% in the first nine months while both values ​​increased by more than 24% in the third quarter.

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Following the results presented, the group confirmed the financial estimates for 2022 presented on the occasion of the half-year results.

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