The Brazilian unit of Italian telecom operator TIM 2011 posted $14.31 billion in gross revenues last year, a 21.7% increase compared with 2010. Net profits also improved 65.6% year-over-year to $740 million.
Selected financial data – Revenues
The company noted that the result were part of a three-year strategy focused on expanding its customer base and market share, accelerating revenue growth and generating cash growth. As part of that strategy TIM touted its continued focus on voice services.
“Our motto ‘voice is good’ proved to be correct ad in 2011 we have accelerated data services with Internet for all concept,” the carrier noted.
TIM Brazil President Luca Lucianam noted during a conference call that the carrier reported a 25.6% increase in its customer base in 2011 to 64.1 million subscribers; cash flow and profitability improved as shown by its 104% increase in earnings before interest, taxes, depreciation and amortization; and the focus on increasing both voice and data revenues and networks improvements.
Luciani noted between 2009 and 2011, the company successfully re-positioned itself in the market and built a solid infrastructure. Looking forward to 2012, he noted that Brazil remains a very attractive market, with both mobile and fixed-line services set to continue reshaping of telecom market. Luciana also noted the networking evolution towards FTTS and advanced data architecture would have an impact.
Since 2009, TIM said it has invested about $4.92 billion in organic business, with acquisitions such as Intelig (2009) and AES Atimus (2011).
As for 2011 results, the company reported 39.8 million gross customer additions and 13.1 million net customer additions for the year. Gross data revenues expanded 41.3% year-over-year to $1.83 billion.
During the fourth quarter of 2011, total gross revenues increased 21.4% year-over-year to $4 billion, while gross service revenues grew by 19.5% to $3.52 billion.
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