The TIM Group, a telecoms company with presence in Italy and Brazil, has revealed the Capex for the first nine months of 2021.
TIM’s total capital expenditures and expenses for mobile telephone licenses / spectrum for the first nine months of 2021 were 2,720 million euros as compared with 2,006 million euros in the first nine months of 2020.
TIM’s Capex accounts for 23.9 percent of revenues.
TIM’s Capex in Italy touched 2,230 million euros in 9-months, showing an increase of 650 million euros mainly due to the development of the FTTC / FTTH networks and payment of licenses (240 million euros) to the Italian Ministry of Economic Development (MISE) for the extension of rights of use relative to frequencies in 2100 MHz.
TIM’s Capex in Brazil in the nine months of 2021 was 490 million euros vs 426 million euros for the nine months of 2020. Capex of TIM Brazil increased by 109 million euros, focusing on the mobile broadband infrastructure and the development of the fixed broadband business of TIM Live.
FiberCop, a project between TIM and Illiad, has increased its FTTH coverage by 22 percent and brought ultra-broadband services to almost 94 percent of fixed lines.
TIM reported 2.1 percent drop in revenues in the third quarter to 3.8 billion euros, while revenues from services dipped 1.4 percent to 3.5 billion euros.
TIM said its board discussed a possible reorganization to extract value from the group’s assets and asked CEO Luigi Gubitosi to continue to study options.