TIM Group reported a 2.7 percent year-on-year increase in like-for-like organic revenues for the first half of 2025, reaching €6.6 billion, driven by growth in both the domestic and Brazilian markets.
Domestic revenues of TIM Group rose by 1.6 percent to €4.5 billion, supported by stable consumer revenue and a 4.7 percent increase in enterprise revenue.
TIM Brasil posted revenue growth of 4.8 percent to €2.1 billion, fueled by service revenue growth and strong mobile performance.
Service revenues grew 3.3 percent year-on-year to €6.2 billion, with a 2.2 percent rise in Italy and 5.4 percent in Brazil. Group EBITDA increased by 5.5 percent to €2.1 billion on a like-for-like organic basis, with both domestic and Brazilian operations contributing positively. EBITDA After Lease (EBITDA-AL) rose 5.0 percent to €1.7 billion, with a 4.2 percent increase in Italy and 6.1 percent in Brazil.
Consumer revenues in Italy remained stable at €3.0 billion, with improved ARPU in both fixed and mobile segments, aided by repricing initiatives. TIM Enterprise delivered strong growth, with revenues climbing 4.7 percent to €1.6 billion, led by a 25 percent surge in cloud services and a doubling of contributions from the National Strategic Hub.
In Brazil, revenues in local currency rose 4.8 percent to R$12.99 billion, with service revenues up 5.4 percent, driven by growth in the post-paid mobile segment. Mobile ARPU increased 4.9 percent year-on-year. EBITDA in Brazil rose 6.5 percent organically, with an improved margin of 49.3 percent.
Subscribers
In the first half of 2025, TIM’s total fixed accesses in Italy declined to 7.05 million from 7.17 million at the end of 2024 and 7.32 million a year earlier. However, active ultra-broadband accesses increased to 5.53 million, up from 5.48 million at the end of 2024 and 5.45 million in the prior year.
In mobile, the total number of lines decreased to 15.78 million as of June 30, 2025, from 15.98 million at year-end 2024 and 16.17 million a year earlier. The number of human calling lines also declined to 13.21 million from 13.28 million at the end of 2024 and 13.45 million in mid-2024.
The churn rate improved to 9.1 percent from 9.7 percent in the prior year, helped by repricing measures affecting 4 million fixed and 1.7 million mobile lines.
In Brazil, total mobile lines rose slightly to 62.2 million from 62.1 million at the end of 2024. The post-paid segment performed well, with its share of the customer base increasing to 50.7 percent from 48.7 percent, while the pre-paid segment declined.
ARPU
In the first half of 2025, TIM reported an increase in fixed Consumer ARPU in Italy, reaching €31.5 per month, up from €30.5 at the end of 2024 and €29.8 a year earlier. Mobile Consumer Human calling ARPU remained stable at €10.6 per month, consistent with previous periods. The ARPU growth in fixed services reflects the impact of repricing initiatives.
In Brazil, mobile ARPU rose to R$32.3, compared to R$30.8 in the first half of 2024, representing a 4.9 percent year-on-year increase. However, broadband ARPU in Brazil declined to R$94.4, down from R$97.2 in the same period last year.
Capex
TIM Group’s capital expenditures for the first half of 2025 amounted to €834 million, down from €938 million in the same period of 2024, representing a 1.5 percentage point decline as a share of revenues to 12.6 percent.
In the domestic segment, capex totaled €481 million, slightly lower than €485 million a year earlier, with a focus on mobile and IT infrastructure development.
In Brazil, capex decreased to €353 million from €362 million, mainly due to lower IT investments and unfavorable exchange rate effects.
Baburajan Kizhakedath