Tim’s first quarter closes better than analysts’ expectations and in line with the guidance and is preparing for Capital Market Day, on 7 July the CEO Pietro Labriola will present the reorganization of the group and the division into several companies.
The accounts do not reserve any surprises, revenues from services fell by 2.5% to 3.4 billion euros, organic Ebitda at 1.4 billion euros (-13.3%) and the net loss stood at 200 million euros. However, the group managed to record a positive cash flow from operations of 490 million euros in the first quarter of 2022, net of 186 million euros related to the acquisition of rights to use frequencies for 5G telecommunications services in Brazil. And “in light of the performance of the main business segments in the first quarter of 2022, the guidance is confirmed”.
Tim wants to underline the “discontinuity” achieved with the appointment of ad Labriola. “The first quarter, therefore, despite being characterized by a trend of business and results in substantial continuity with the trend already highlighted in the last part of 2021, marks a moment of discontinuity in the management of the group, with a strong focus on compliance with the guidance “.
Source: Ansa
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