Timengaged in a divesting plan to reduce debts (lastly with the transfer in the course of Sparkle to MEF and Retelit), closed the First quarter of 2025 With an increase in revenues and margins in line with the expectations thanks to a good performance of the business both on the domestic and Brazilian market.
The main results
Tim closed the first quarter of 2025 with Total revenues group equal to 3.3 billion euros, growing by 2.7% year on year ( +1.6% in the servant at 2.2 billion euros, +4.9% in Brazil at 1.0 billion euros); Group services revenues are up to 3.3% year on year at 3.1 billion euros ( +2.1% in the servant at 2.1 billion euros, +5.6% in Brazil at 1.0 billion euros).
Growing theEbitda group, which increases by 5.7% year on year to 1.0 billion euros ( +4.1% in the servant at 0.5 billion euros, +6.8% in Brazil for 0.5 billion euros); The growth is also growingEbitda after lease group, which rises by 5.4% year on year at 0.8 billion euros ( +4.0% in the servant at 0.4 billion euros, +6.5% in Brazil at 0.4 billion euros).
There clear loss of the TIM group (considering the Telecom Italia Sparkle group as Discontinued Operations) is 124 million euros, in decisive improvement from the red of 400 million of the same period of 2024.
The trend of the various divisions
TIM Consumer He recorded total growing revenues (+0.3% year on year) to 1.5 billion euros. The stabilization path of revenues continues, with a Churn down year -of -year -old and with an Arpu growing in the fixed and substantially stable in the furniture. The quarter, for the first time for several years, has seen a clear balance of lines linked to the mobile number portability (MNP) substantially neutral. The replicing activities for 2025 have also started, which concerned about 1.1 million fixed lines and about 0.7 million consumer mobile lines and which will start to deploy their effects starting from the second quarter.
Tim Enterprise He recorded total revenues of 0.8 billion euros (+4.5% year on year), continuing to perform better than the reference market better. For the first time the cloud (service revenues +24% year on year) represents the main business line of Tim Enterprise, also thanks to the services offered to the national strategic center, whose contribution in terms of revenues has doubled year on year.
Tim Brasil has recorded total revenues of 1 billion euros (+4.9% year on year), and an Ebitda after lease of 0.4 billion euros (+6.5% year on year), continuing in the growth path undertaken in the last two years thanks to the thrust of the mobile segment
Debt and guidance
During the quarter, the transformation actions continued to increase the level of structural efficiency of the domestic perimeter, with a benefit of approximately 40 million euros at the Ebitda al – Capex of the period. Group investments amount to 0.5 billion euros, equal to 13.9% of revenues.
THE’Rectified DEFTER LEA that of the group at 31 March 2025 is equal to 7.5 billion euros (compared to about 7.3 billion euros at the end of 2024), with a trend connected to the seasonality of the circulating capital and which has seen a higher absorption due to the huge investments made in the last quarter of 2024. The relationship Between the rectified after -lease rectified financial debt and the After Lease organic ebitda is less than 2.1x.
In the first three months of 2025 the group optimized the structure of the Revolving Credit Facilityreducing the maximum amount to 3 billion euros and extending the deadline to 2030, with an optimization of the related charges. The liquidity margin covers financial deadlines until 2028.
The group, on the basis of the results on 31 March 2025, Confirm all the guidance for the current exercise.
