Telecom Italia (TIM) has updated its revenue guidance to take into account the agreement with sports streaming service DAZN to air top-tier Serie A football as well as the market impact of the government’s voucher scheme to boost takeup of high-speed broadband. TIM is now expecting “low to mid single digit” growth for its organic service revenues in the 2022-2023 period, compared to previous guidance of “low single digit growth”. EBITDA guidance, meanwhile, has been revised to “mid single digit” growth in the same period, against a previous forecast of “low to mid single digit” growth.
TIM confirmed its 2021 revenue forecast of “stable to low single digit growth” but said it now expected a “low to mid single digit” fall in organic EBITDA compared to an earlier guidance of “stable to low single digit” growth. The company added that expected benefits from the Resilience and Recovery Fund, and from TIM Brasil’s acquisition of Oi mobile assets have yet to be factored in.
It revealed that the second quarter saw a stabilisation in its fixed line segment, coupled with strong growth in the fibre market and a further reduction in both fixed and mobile churn. In April, the government reported that TIM had secured 76 percent of funds made available to low-income households to set up a high-speed broadband connection.
In February the operator reached a three-year deal with DAZN to air Serie A matches on its TIMvision streaming service and become the “reference telecommunications and pay-TV operator” for DAZN’s full offer of live and on-demand sports content in Italy.
