(Finance) – TIM closes the first semester with a net result equal to -646 million, improving compared to -813 million last year. The group’s revenues amounted to 7.1 billion (+3.5%) and the ebitda to 2.1 billion (+9.4%).
Results which according to the company “are not to be considered representative of the performance of the group as a going concern, nor of the new ServCo corporate perimeter, which is made up of Tim Consumer, Tim Enterprise and Tim Brasil”.
TIM recalls, in the notes to the accounts, that the half-yearly financial report, in application of the accounting standard IFRS 5, considers the NetCo perimeter, subject to transfer to KKR, as an activity destined to be sold (discontinued operations).
They come preliminary results announced at the end of July confirmed and referring to ServCo and “in light of the performance of the main business segments of the ServCo perimeter in the first six months of 2024, the guidance already communicated with the approval of the TIM 2024-2026 Industrial Plan is confirmed”.
Following the sale of NetCo, completed on July 1, the pro-forma Adjusted After Lease Net Financial Debt of the TIM ServCo Group amounted to 8.1 billion euros, in line with forecasts.
The Group it also confirms the guidance for the entire financial yearwhich forecast Group revenue growth of 3-4% for 2024, Group Ebitda After Lease growth of 8-9% and Net Financial Debt After Lease less than or equal to 2 times the Ebitda After Lease and equal to approximately 7.5 billion euros.
According to what we learn from the calendar of corporate events for 2025 approved today by the group’s Board of Directors, TIM has set a board of directors meeting for February 12th for the approval of the preliminary 2024 results and the 2025-2027 industrial plan.