YOU ARE AT:WirelessTIM announces US $726M in revenue and migration to BM&FBovespa list

TIM announces US $726M in revenue and migration to BM&FBovespa list

TIM Brazil announces its second-quarter financial results and its migration to special listing segment called “Novo Mercado” of BM&FBovespa – Bolsa de Valores, Mercadorias e Futuros S.A. During the second quarter, revenue grew 19.5% year over year to R$ 4,25 billion (US $2.7 billion), including an 11.8% increase in net service revenues. Earnings before interest, taxation, depreciation and amortization (EDBITDA) reached R$1.138 million (US $726 million), up 13% year to year. However, EBITDA margin of 26.8% was lower than second quarter 2010 (28.4%).

During this period, capital expenses totaled R$ 719 million, or 17% of net revenues. In July, TIM bought AES Atimus for US $1.01 billion and plans to expand its data offer and also announced R$ 171 M investments in fiber optics in Northern Brazil.

TIM’s subscriber base grew 25% YoY, with gross adds of 9.3 million lines and net addition of 2.7 million lines. Data revenues also grew, and reached R$ 734 million (US $468 million) in second quarter, which is 33.5% yearly growth, already accounting for 15% of mobile revenues (vs. 13% in 2Q10).

During this period, TIM reached an average revenue per unit of R$21.6, up 3.7% from a year ago.

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ABOUT AUTHOR

Roberta Prescott
Roberta Prescott
Editor, [email protected] Roberta Prescott is responsible for Latin America reporting news and analysis, interviewing key stakeholders. Roberta has worked as an IT and telecommunication journalist since March 2005, when she started as a reporter with InformationWeek Brasil magazine and its website IT Web. In July 2006, Prescott was promoted to be the editor-in-chief, and, beyond the magazine and website, was in charge for all ICT products, such as IT events and CIO awards. In mid-2010, she was promoted to the position of executive editor, with responsibility for all the editorial products and content of IT Mídia. Prescott has worked as a journalist since 1998 and has three journalism prizes. In 2009, she won, along with InformationWeek Brasil team, the press prize 11th Prêmio Imprensa Embratel. In 2008, she won the 7th Unisys Journalism Prize and in 2006 was the editor-in-chief when InformationWeek Brasil won the 20th media award Prêmio Veículos de Comunicação. She graduated in Journalism by the Pontifícia Universidade Católica de Campinas, has done specialization in journalism at the Universidad de Navarra (Spain, 2003) and Master in Journalism at IICS – Universidad de Navarra (Brazil, 2010) and MBA – Executive Education at the Getulio Vargas Foundation.