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Organic EBITDA showed a negative change of 63 million euros (-1.6%) compared to the first half of 2017. The net debt decreased from 167 million to 25.141 billion end of June compared to last December
The board of directors also "examined the theme of commitments, not provided for in the plan, that could arise from participation in the call for tenders 5g, and began a process of evaluating the strategic options of its subsidiaries, confirming the continuation of the sales process of Persidera. "
Effective January 1, 2018, the Tim Group applies IFRS 9 (financial instruments) and ifrs 15 (income from contracts with customers) accounting principles. results and results of the first half of 2018 balance sheet with the period During the prior year, the Company presents "comparable" economic data and balance sheet balances, prepared in accordance with previous accounting standards. On an organic basis, total consolidated sales for the first half of the year are supported by service revenues at Group level (8.8 billion euros, + 1.9% year-on-year), both in Italy than in Brazil, which recorded performances, 9 billion euros, + 0.8% over the year and 1.9 billion euros, + 6% over the year. # 39; year). In the second quarter, the domestic branch service business figure, points out the rating, "held despite the impact of the return to monthly billing, registering a figure substantially in line with the period of l 39; previous year (-0, 4% on an organic basis).
The EBIT of the comparable group of 3.9 billion euros reflects "the negative effect of the domestic component (- 4.8%) due to the effect of non-recurring items, of which the solidarity agreement renewed only end of June 2018, the impact of the return to monthly invoicing, the new European regulations on the l & # 39; 39, roaming and other regulatory aspects. "The positive trend of the domestic mobile segment continued in the second quarter, with revenues up 1.6% year-on-year, supported in particular by consumer services (+ 0.5%), while the domestic fixed sector posted solid growth in Arpu broadband (+ 2.4%), which stood at 26.1 euros per line and per month. The convergent strategy is growing steadily and has increased the customer base on the fixed Timvision by 14% quarterly (+ 204k).
The group emphasizes the rigor of costs, which has enabled significant gains in efficiency in investment spending (740 million euros in the second quarter ), in line with the strong growth already achieved in the mobile fiber and ubb coverage and confirming at the same time Tim's technological leadership position. This results in a net cash generation of 396 million euros in the second quarter, which enables the Group to reduce its debt by 167 million euros as of June 30.
Non-recurring items in the first half of 2018 mainly include: "provision for financial penalty of 74.3 million euros, imposed by the Government on Telecom for the alleged violation of Article 2 of the so-called 'power' & # 39; with provision of May 8, 2018. The company specifies, recalling that the company has appealed to Lazio TAR against the provision that imposed the financial penalty, with a request for suspension of the effectiveness of the same as a precautionary measure . By order last July, the TAR granted the application for interim measures and suspended the payment of the fine by fixing the date of the hearing on the merits.
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