(Finance) – “I’m happy because we have the opportunity to talk about business, after weeks of information and disinformation in the press. In August I explained the main challenges of our new plan and the first is to ensure business continuity, keeping the operational activities and improving the business. I believe the third quarter results show that we are on the right track and for some metrics even ahead of time“He affirmed it Pietro LabriolaChief Executive Officer and General Manager of TIMopening the call with analysts that followed the publication of the results for the first nine months of the year.
“THE trends are clearly improving, the group’s revenues have returned to growth and revenues from services are accelerating further – he continued – EBITDA is also improving despite the strong competition on the domestic market. As regards the domestic sector, in the fixed sector we recorded an improvement and obtained the lowest churn rate in 5 years. In mobile we have improved the net adds “.
“Our ambition is to return to growth in 2023”, said the CEO, taking into account that TIM’s business is “today more stable, predictable and healthier than it was at the beginning of the year“.
“We have achieved 270 million in OPEX savings, reaching 90% of the cost containment target for the whole of 2022,” said Labriola, explaining that it is “a reassuring result, which demonstrates how we work on inefficiencies“.
On the energy cost front, which is giving European Telcos a lot of concern, the CEO said: “I costs for 2022 are almost all covered with prices established before the energy crisis. The increase is not so much due to the increase in prices but to the growth in consumption, because we are expanding the activity of the data centers and the hot summer has brought more consumption to cool them “.” We started injectives to achieve similar consumption in 2023 “, he added.
TIM’s liquidity position “is solid and the next maturities are fully covered until 2024”. “We see no impact from the rate hike because most of the long-term debt is at fixed rates, “he stressed.
Despite a difficult macroeconomic environment, “il market is becoming more rational and let’s see improvements in all segments. In the consumer sector, operators are raising prices in fixed and mobile to pass inflation to end users. The mobile number portability market is cooling down. In the corporate market, cloud migration is accelerating in both the private and PA segments, while connectivity is substantially stable on an annual basis. In Wholesale, FTTC fiber is growing on an annual basis and represents approximately 56% of the total access lines. In Brazil, market consolidation is underway and the competitive environment is more rational “.