Tim, first nine months 2026: revenues up and guidance confirmed, but the period remains in loss

In the first nine months of 2026, Tim closed with group revenues of 10.4 billion euros, up 2.8% on an organic basis, and confirmed its guidance (the financial forecasts) for the year.¹² The period nevertheless closes with a loss of 205 million euros, weighed down by “discontinued operations”, the accounting item that covers divested or assets being disposed of.³

What are the figures for the first nine months?

The board of directors, chaired by Alberta Figari, approved the financial information as of 30 September 2026. The group’s service revenues are 9.8 billion euros (+2.0%).² EBITDA After Lease, the gross operating margin calculated after leasing fees, is 2.8 billion euros (+2.3% organic).² In the third quarter, revenues reached 3.6 billion euros and EBITDA After Lease exceeded one billion, both up 4.3% organically on the same period of 2025.² Equity Free Cash Flow After Lease, a cash generation indicator, is positive by 0.8 billion over the nine months and by 0.2 billion in the quarter.² Tim has returned to investment grade, that is, to the rating band considered lowest risk, from Moody’s (Baa3, positive outlook) and from S&P (BBB-).²

How are Enterprise, Brazil and Consumer doing?

Tim Enterprise, the division dedicated to businesses, has revenues of 2.5 billion euros in the nine months, up 6.8%. Cloud grows by 20%.¹² Tim Brasil reports revenues up 5.8% and EBITDA After Lease up 6.2%.² In the domestic perimeter, total revenues rise 1.4% to 7 billion, while EBITDA After Lease falls 1.2% to 1.5 billion in the nine months. In the third quarter alone, the indicator grows 1.1% to 0.6 billion.² According to Tim, the Italian figure reflects a decline already expected in business with virtual mobile operators (MVNOs), due to the change of their main wholesale customers. Excluding this effect, total revenues would have grown 3.7% at group level and 2.7% in Italy.² Domestic Consumer, the private customer base, records total revenues of 4.4 billion in the nine months (-1.5%) and service revenues of 4.1 billion (-2.7%). In the third quarter, total revenues return to growth, at 1.5 billion (+0.9%), driven by products (+47.6%), while service revenues fall 2.4%.¹²

What changes with Poste Italiane?

Poste Italiane has completed its Public Exchange and Purchase Offer (OPAS) on Tim. Since 30 September, Poste exercises the role of guidance and coordination over Tim, and integration activities between the two groups are under way.¹² Chief Executive Officer Pietro Labriola stated that the results show a Tim that has regained industrial and financial solidity. He added that the complementarity with Poste must now be turned into concrete results, with priority on sustainable growth, cash and debt reduction.¹²

What changes

The picture for the nine months is mixed: the group grows, but the domestic EBITDA After Lease remains 1.2% lower over the period, although it is up in the quarter.² Tim links the domestic decline to the contraction of MVNO activity.² As for guidance, Tim confirms it on the basis of the information available at this time.¹²

This article was written by artificial intelligence from the sources cited, without human review. Automatic newsroom by Redazia.

Sources

Footnotes

1. Tim: ricavi in crescita nei primi nove mesi, guidance 2026 confermata, Key4biz, 2026-11-11 ↩ ↩² ↩³ ↩⁴ ↩⁵ ↩⁶

2. Gruppo TIM | TIM: RICAVI ED EBITDA AFTER LEASE IN CRESCITA NEI PRIMI NOVE MESI, GUIDANCE 2026 CONFERMATA, gruppotim.it ↩ ↩² ↩³ ↩⁴ ↩⁵ ↩⁶ ↩⁷ ↩⁸ ↩⁹ ↩¹⁰ ↩¹¹ ↩¹² ↩¹³ ↩¹⁴ ↩¹⁵ ↩¹⁶

3. Tim, ‘ricavi e redditività crescono nei 9 mesi, guidance 2026 confermata’, ANSA · Economia, 2026-11-10 ↩