TIM’s Brazilian business unit saw particularly strong growth in Q1 2018
Telecom Italia has reported a 2.7 per cent year on year increase in its revenues for the first quarter of 2018, according to a company release. Revenues for Q1 2018n stood at €4.7 billion.
The company saw growth in both its domestic and overseas businesses, with the company’s Brazilian business unit performing particularly strongly.
“The solid results of Q1 2018 are driven by positive Domestic performance and strong growth in Brazil which confirm we are already leveraging on the progress made with our DigiTIM strategy,” said TIM CEO, Amos Genish. “In Italy, both the Mobile and Fixed UBB customer base, together with ARPU, are steadily growing, rewarding TIM’s continuous coverage upgrading and focus on quality, supporting our premium player position.”
Group EBITDA also rose by 1.8 per cent to €2 billion, while revenues in TIM’s mobile business unit grew by 4.7 per cent.
TIM has weathered an eventful few weeks recently, as its major shareholder, Vivendi, lost control of the boardroom, following the reappointment of Amos Genish as CEO, and the appointment of Fluvio Conti as chairman at a shareholder meeting this month.
The Italian government, who backed the recent board reshuffle, recently acquired a 5 per cent stake in TIM.