Home » Free to Run, the TIM Board of Directors has approved the next industrial plan. The data for 2023

Free to Run, the TIM Board of Directors has approved the next industrial plan. The data for 2023

by admin
Free to Run, the TIM Board of Directors has approved the next industrial plan.  The data for 2023

On a day full of developments, the TIM Board of Directors announced the new 2024-2026 Business Plan, called “FREE TO RUN”. At the same time, the Financial Report as of 31 December 2023 was approved, highlighting the company’s successes in achieving and exceeding the objectives set for the 2023 financial year.

“FREE TO RUN” Strategic Planning

The three-year “FREE TO RUN” plan presents a series of ambitious objectives that outline TIM’s future direction:

Revenue Growth: The plan provides for an average annual increase of 3% in group revenues for each year.
EBITDA After Lease: The group’s EBITDA After Lease is expected to grow by an average of 8% per year.
Investments in Emerging Technologies: Investment in emerging technologies, including the development of 5G networks, is expected to increase significantly.
Cash Flow Positivo: The plan provides for positive Equity Free Cash Flow After Lease in both Italy and Brazil by 2026.
Sustainable Debt: Following the sale of NetCo, debt is projected to further reduce, with expected leverage of 1.6-1.7x by 2026.

These goals are driven by Free’s goal to remain a key player in the telecommunications market, providing innovative and competitive services.

Financial report 2023

The Financial Report as at 31 December 2023 highlighted the exceeding of the objectives set for the 2023 financial year. Among the significant results:

Domestic Business Growth: The fourth quarter results confirm the improvement of the domestic business.
Strong growth of TIM Brasil: TIM Brasil contributed significantly to overall growth.
Guidance Compliance: TIM met all guidance for the second consecutive financial year, an unprecedented achievement since 2010.

See also  Swiss Life Arena: Home of Events

Shareholders’ Meeting called for April 23rd

The Board of Directors has called the Shareholders’ Meeting for April 23rd. The Assembly will be called to decide on several key topics, including the coverage of the operating loss and the appointment of the Board of Directors and the Board of Statutory Auditors.

Innovations in the Stock Options and Debt Transfer Plan

The Assembly will also be called to evaluate the adoption of changes to the 2022-2024 Stock Options Plan and to examine the debt transfer operation, expected to coincide with the sale of fixed network assets to Kohlberg Kravis Roberts & Co. LP (KKR).

The proposals and complete reports will be made available within the times and in the manner required by law. TIM continues to demonstrate a strategic commitment to its future, aiming to consolidate its position in the telecommunications sector.

Share this article:

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy