TIM Group FY Organic EBITDA Declines; Organic Decline In Revenue At 1.9%

TIM Group posted fiscal 2021 organic EBITDA of 6.2 billion euros, a decline of 9.6% from last year. The Group said the decline was due to competitive pressure, the delay in the voucher scheme and start-up costs for digital companies. Excluding the impact of non-recurring items, net profit for 2021 is positive for 40 million euros compared to 1.17 billion euros, last year.

Fiscal year loss from continuing operations was 4.5 billion euros compared to profit of 1.4 billion euros, last year.

Fiscal year revenues were 15.3 billion euros, down 3.1% compared to prior year. The organic decline in revenue was 1.9% for the fiscal year.

Fourth quarter organic EBITDA was at 1.4 billion euros, down by 21.9% from a year ago. Fourth quarter Group revenues was at 4.0 billion euros, down 4.4% from prior year.

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