Tim closes 2021 in the red of 8.7 billion. It splits in two – Economy

Tim closes 2021 with a loss of “8.7 billion” after the devaluation of domestic goodwill for 4.1 billion euro and the write-off of 3.8 billion euro by the parent company of the deferred tax assets ” This is stated in a note from the group that approved the accounts for the year The Board of Directors proposed to the shareholders’ meeting not to distribute dividends.
The Board of Directors, which did not take decisions on Kkr but sent the dossier to the advisors, approved Tim’s new business plan to 2024 which “starts a transformation process based on the creation of distinctive legal entities, netco and servco (consumer, enterprise and Tim Brasil), overcoming the vertical integration model “. The board of directors that gave the CEO Pietro Labriola a mandate to develop the executive reorganization project that will be presented within the six-month period. With the current configuration, however, Tim expects “a slight growth in revenues from services and stabilization of the EBITDA” in the three-year period.
“With this new set-up we will be more ready to respond to the challenges and seize the opportunities we have before us”, commented the CEO of Tim Pietro Labriola after the approval of the board of his industrial plan.


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