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Investor Presentaiton

TIM Brasil 2019-'21 Recap Solid Achievements Delivered Despite Challenges Net Service Revenues 1,2 R$ 16.6 bln (+2.4% YoY) Net Service Revenues Growth² (% YoY) Mobile ARPU² (R$) до 3.2% 3.0% 23.7 2.4% 22.5 +5.6% 1.0% TIM Live 1,2 R$ 491 mln (+30.6% YoY) 1Q19 2Q19 3Q19 4Q19 2018 2019 ( Network evolution supported by innovation: 5G trials, massive- MIMO, refarming, MOU with Vivo Improved network customer (((p))) experience recognized by independent measures Assertive adjustment in offers' portfolio, back to the right pace of go-to-market EBITDA 1,2 EBITDA Margin³ EBITDA - CAPEX³ R$ 6.8 bln (+6.7% YoY) (% on Revenues; R$ bln) 36.6% 38.5% 39.8% 15.6% 16.9% เจ 31.5% 33.5% 11.1% 6 consecutive years of EBITDA growth (CAGR 15-19: 6,5%) TIM 2015 2016 2017 2018 2019 The year 2019 confirms the company's transformation in the last 5 years. (1) In 2019; (2) KPIs ex-IFRS 16 impacts; (3) Adjusted, pro-forma basis (excluding IFRS 9, 15 and 16 impacts). 3.7% 4.7% 1.8 2.7 2.9 0.6 0.7 -> 2015 2016 2017 2018 2019 Image recovery in all segments Record high organization climate results TIM Brasil | Investor Relations Strategic Plan 2020-22 3
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