The Chairman of Telecom Italia (TIM) hailed the end of a three-year transformation period as sales and earnings grew in the first three months of the year.

Group revenues were up 2.6 percent year-on-year to €4.8 billion on a like-for-like basis as the company registered growth at home and abroad.

Sales in Italy rose 2.6 percent to €3.4 billion as fixed revenues from consumers and businesses grew by 3.5 percent and 4.6 percent respectively.

While consumer mobile sales also rose, up 3.9 percent, revenues from businesses slipped one percent due to price cuts.

In Brazil, sales were up 2.5 percent to €1.2 billion when stripped of currency effects thanks to an uptick in mobile ARPU.

International wholesale was the only business unit to register a decline, as revenues dipped 1.3 percent to €310 million.

Group EBITDA rose over 11 percent to hit €1.99 billion on the improving sales performance allied to increased cost savings.

Executive Chairman Giuseppe Recchi (pictured above) said: “With this quarterly report, we end a three year period of work by the Board of Directors, during which, we are certain, we started a major transformation of the company, and the results are proving us right.”

CEO Flavio Cattaneo added: “The acceleration on the new generation networks in Italy and Brazil enables the transformation of the business.

“We have restored the plus signs to all parameters in both markets.

“On the domestic market, the increase in fibre and 4G customers is accompanied, net of normalisations, by stabilisation of service revenues already in this quarter, and I expect that revenues from domestic services will grow again in the next quarter.”

In February, TIM outlined a new three-year plan that focuses on boosting its network and digital services portfolio.

Read more: Vivendi mulls legal action as Agcom orders sale of TIM or Mediaset stake

 

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