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TIM Q3 Profit Declines; Revenues Down 2.1%

TIM (TIAOF.PK) reported that its Board approved the Financial Report at September 30, 2021. The Group's organic EBITDA in the third quarter was 1.7 billion euros, down 5.9% from prior year. Group After Lease EBITDA was 1.5 billion euros, a decline of 7.6%.

Third quarter profit to owners of the parent declined to 159 million euros from 500 million euros, a year ago. Operating profit (EBIT) was 484 million euros compared to 585 million euros, last year.

Revenues for the third quarter was 3.84 billion euros, down 2.1% from prior year. Revenues from services were 3.5 billion euros, for the quarter. Total operating revenues and other income declined to 3.88 billion euros from 3.93 billion euros.

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