(Finance) – The 2022 results of TIM are above guidance “thanks to further improvement in operating trends in the fourth quarter”. According to the preliminary results for the year approved by the BoD, in the twelve months, i revenues from services at Group level they amounted to 14.6 billion euro, up by 1.3%.
Compared to fourth quarter 2021, total group revenues are up 3.3% year on year to 4.3 billion euros (+1.1% in the third, -1.4% in the second and -4.5% in the first quarter ), while revenues from group services increased for the third consecutive quarter with an increase of 3.6% YoY to 3.9 billion euros (+3% in the third, +1% in the second and -2.5% in the first quarter) thanks to the positive contribution of Brazil and the improvement of the domestic trend
L’Organic Ebitda is equal to 6 billion, down by 6.7% (+2.7% in the fourth quarter), while the Group’s organic EBITDA after lease is equal to 5 billion, down by 10.6%.
Lnet financial debt group after lease amounted to 20 billion, stable compared to 30 September and up compared to 2021 exclusively for extraordinary items.
Strong growth confirmed TIM Brasil with revenues from services of 3.8 billion, an increase of 19%, an organic ebitda of 1.9 billion, an increase of 16.4%. Achieved 113% of cost containment target for 2022.
TIM – reads the note to the accounts – continues with its strategy which aims to “overcome vertical integration through the separation of fixed network infrastructure assets (NetCo) from services (ServiceCo with TIM Consumer, TIM Enterprise and TIM Brasil) and reduction of debt through transfer operations and valorisation of some assets”.
In the twelve months, NetCo recorded total revenues and revenues from services both down by 4%. The reduction “is mainly due to one-off transactions booked in the first half of last year. As of December 31, NetCo managed approximately 16 million fixed accesses (of which approximately 72% in FTTx technologies) with a market share of approximately 80%.The technical units reached with FTTH technology were 7.7 million, equal to a coverage of approximately 32%, up by 7 percentage points compared to the end of 2021.