TIM: BOARD OF DIRECTORS APPROVES THE GROUP’S ANNUAL FINANCIAL STATEMENTS AT 31 DECEMBER 2018

TIM: BOARD OF DIRECTORS APPROVES THE GROUP'S ANNUAL FINANCIAL STATEMENTS AT 31 DECEMBER 2018

02/21/2019 - 08:27 PM

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• TIM: BOARD OF DIRECTORS APPROVES THE GROUP'S ANNUAL FINANCIAL STATEMENTS AT 31 DECEMBER 2018

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Full year revenues grew on previous year fueled by a strong performance in Brazil and stable fixed Domestic supported by UBB take-up (+73% YoY), with both Business and Wholesale revenues growing YoY. In Mobile, TIM is best in class in defending against new entrant and MVNOs.

FY 2018 MAIN RESULTS - ON A COMPARABLE BASIS WITH FY 2017 (PRE IFRS 9/15):

• Organic Group Revenues reached 19.2 billion euros (+0.5% YoY excluding non-recurring items)
  
• Organic Group EBITDA at 8.1 billion euros (-3.4% YoY excluding non-recurring items); excluding all non-linear items the figure stood at -1.1% YoY. Reported Group EBITDA at 7.7 billion euros (-1% YoY)
  
• Group Net Profit at 1.4 billion euros on a normalized basis, excluding 2.6 billion euros write down on Core Domestic and International units (non-cash item) restructuring charges and other one offs
• Group CAPEX at 4.2 billion euros (-14.9% YoY), plus 2.4 billion euros invested for 5G licenses in Italy
• 2018 group adjusted Net Financial Debt at 25.3 billion euros, stable YoY despite the payment of the first tranche of 5G licenses of 0.5 billion euros
• Shareholders' meeting called for 29 March 2019
• Dividend proposed for savings shares is 2.75 eurocents

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