Company Overview - TIM S.A. is the third largest telecom operator in the mobile segment in Brazil with a market share of approximately 23.7% [1] - Mobile services constitute 91.5% of TIM S.A.'s total revenue [1] Industry Insights - The Brazilian telecom market is characterized by significant competition, with TIM S.A. holding a substantial share in the mobile segment [1]

Airline Veteran to Guide Pricing and Yield Management in Carrier's Revenue Organization DALLAS, Aug. 21, 2024 /PRNewswire/ - Southwest Airlines Co. (NYSE: LUV) has appointed Tim Lyon to a new role as Vice President Pricing, where he is focusing additional attention on the carrier's yield and pricing discipline. Lyon brings more than two decades of airline industry experience and will oversee the carrier's Pricing Department, coordinating closely with business units that guide Revenue Management and Sales. " ...

Press Release Nokia and TIM partner to expand 5G coverage in Brazil in 2025 Nokia to modernize TIM's network with 5G equipment from its comprehensive AirScale portfolio. Deal reinforces TIM's commitment to expanding its 5G coverage and bringing the benefits to more people and businesses. 19 August 2024 Espoo, Finland – Nokia today announced that it has been selected by TIM Brasil (TIM) to expand its 5G radio access network (RAN) coverage across 15 Brazilian states from January 2025. This partnership will in ...

Investors interested in Wireless Non-US stocks are likely familiar with KT Corp. (KT) and TIM S.A. Sponsored ADR (TIMB) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look. There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank favors stocks with strong earnings estimat ...

Company Participants Conference Call Participants Vincent Ferreira Before we discuss our results, I remind you that management may make forward-looking statements and this presentation may contain them. Please refer to the disclaimer on the screen, which will also be available in our earnings materials and in our Investor Relations website. Alberto Griselli We have a solid above-inflation expansion in service revenues growing above 7% year-on-year. With costs under control, our EBITDA grew double-digit and ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7). Date of Report: April 29, 2024 Commission File Number: 001-39570 TIM S.A. (Exact name of Registrant as specified in its Charter) João Cabral de Melo Neto Avenue, 850 – North Tower – 12 floor 22775-0 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

Financial Data and Key Metrics Changes - In 2023, service revenues grew by 10.7% year-on-year, totaling more than BRL23 billion [12] - EBITDA grew more than 14% to reach BRL11.7 billion, with a margin expansion to almost 49% [12] - Net income rose to BRL2.7 billion, expanding more than 50% year-over-year [60] - Operating free cash flow grew more than 50% year-over-year, with a margin expanding to nearly 19% [16] Business Line Data and Key Metrics Changes - Blended ARPU reached close to BRL30, growing nearly 13% year-over-year [5] - Post-paid and prepaid ARPUs expanded in the mid-teen range in 2023 [5] - Mobile revenue increased by 7.6%, while broadband revenue grew by 9.5% [63] Market Data and Key Metrics Changes - The company has the largest 4G and 5G coverage in Brazil, covering all cities [4] - The mobile market in Brazil is described as healthier than ever, supporting a "more-for-more" strategy [12] Company Strategy and Development Direction - The company focuses on four pillars: mobile, B2B, broadband, and efficiency, integrating social and environmental considerations into its strategy [5] - The "more-for-more" strategy aims to enhance customer benefits while increasing ARPU [27] - The company is exploring opportunities in the B2B sector, with contracted revenues of EUR 300 million over the last 18 months [67] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to grow service revenues above inflation, with a focus on maintaining a rational competitive environment [38] - The company plans to update its guidance to adjust to new market conditions, expecting service revenues to grow above inflation [34] - Management highlighted the importance of cost control and productivity discipline in achieving future growth [74] Other Important Information - The company was recognized as one of the most sustainable telco companies globally and ranked high in diversity and inclusion [14] - A Capital Market Day is scheduled for March 7th, where updated shareholder remuneration targets will be disclosed [19] Q&A Session All Questions and Answers Question: What are the sources of growth going forward in mobile revenues? - Management indicated that growth will continue to come from a mix of volume and ARPU, with a focus on the "more-for-more" strategy [65] Question: How do you see the pricing environment for 2024? - Management noted that competitive dynamics remain rational and they plan to maintain similar pricing strategies as in 2023 [38] Question: What are the expectations on decommissioning and 5G coverage? - Management expects to continue optimizing costs while increasing 5G coverage, balancing decommissioning with new site requirements [41][43] Question: Can you comment on the structure following the departure of the CTO? - Management confirmed that the CTO structure has been removed, with key executives reporting directly to the CEO, ensuring continuity in strategy [53] Question: What is the optimal leverage in the future? - Management did not provide a specific target but indicated that they aim to maintain a low leverage ratio while focusing on shareholder remuneration [118]

Financial Performance - TIM S.A. reported a net revenue of R$6,055,319 thousand for Q3 2023, an increase of 19.5% compared to R$5,067,516 thousand in Q3 2022[17]. - The gross income for the quarter was R$3,216,486 thousand, reflecting a gross margin of approximately 53.1%[17]. - The company achieved a net profit of R$716,005 thousand for Q3 2023, up 60.0% from R$447,664 thousand in Q3 2022[17]. - Consolidated net revenue for Q3 2023 reached R$6,055,319 thousand, a 7.9% increase from R$5,611,160 thousand in Q3 2022[19]. - Gross income for Q3 2023 was R$3,216,486 thousand, up 14.8% compared to R$2,802,180 thousand in Q3 2022[19]. - Net profit for the period in Q3 2023 was R$716,005 thousand, representing a 60.0% increase from R$447,664 thousand in Q3 2022[21]. - Basic and diluted earnings per share for Q3 2023 were R$0.30, compared to R$0.16 in Q3 2022, reflecting an 87.5% increase[19]. - Total comprehensive income for the period in Q3 2023 was R$716,005 thousand, consistent with the net profit for the same period[23]. - The company reported a profit before income tax and social contribution of R$812,556 thousand in Q3 2023, compared to R$359,876 thousand in Q3 2022, marking a 126.5% increase[19]. - The company reported a net income of R$724 million in Q3 2023, a 53.0% increase compared to R$473 million in Q3 2022[68]. Assets and Liabilities - Total assets as of September 30, 2023, amounted to R$55,972,967 thousand, an increase from R$52,925,205 thousand at the end of 2022[13]. - Current assets increased to R$10,836,815 thousand from R$9,828,112 thousand, with cash and cash equivalents rising to R$3,608,812 thousand[13]. - Total liabilities increased to R$30,398,909 thousand from R$27,527,840 thousand, with current liabilities rising to R$13,718,928 thousand[15]. - The company’s equity increased to R$25,574,058 thousand as of September 30, 2023, compared to R$25,397,365 thousand at the end of 2022[15]. - The Company’s current liabilities exceeded total current assets by R$ 2,882,113, attributed to the acquisition of Cozani and 5G license obligations[174]. Cash Flow and Financial Management - Operating cash flow for the consolidated entity was R$7,799,849 thousand in the nine-month period ended September 30, 2023, compared to R$5,724,645 thousand in the same period of 2022[29]. - The total cash generated by operations for the nine-month period ended September 30, 2023, was R$7,952,746 thousand, up from R$5,007,997 thousand in the same period of 2022[29]. - Operating Free Cash Flow decreased by 10.2% YoY to R$1,455 million in Q3 2023[86]. - Cash generation, excluding dividend payments, increased approximately 76% YoY, with a 20% growth after dividend payments[86]. - The Cash and Securities balance reached R$4,446 million at the end of Q3 2023, an increase of R$743 million YoY, driven by a 17.0% YoY rise in normalized EBITDA - Capex[95]. Customer Metrics - The total mobile ARPU reached R$30.2 in Q3 2023, marking a 21.1% increase year-over-year, with postpaid ARPU at R$52.9 (+24.7% YoY) and prepaid ARPU at R$15.0 (+17.1% YoY)[37]. - TIM's mobile customer base decreased by 11.0% year-over-year to 61,254,000, with prepaid customers down by 12.9% and postpaid customers down by 8.4%[38]. - The company reported a 34.6% year-over-year increase in its FTTH customer base, reaching nearly 10.4 million homes passed[37]. - The 5G user base surged by 336.4% YoY, reaching 3,778 thousand users, while the 4G user base decreased by 8.6% YoY[97]. - TIM UltraFibra's customer base grew by 11.6% YoY to 791 thousand lines, with FTTH customers increasing by 34.6% YoY[104]. Investments and Acquisitions - TIM S.A. completed the acquisition of Oi's mobile assets for an adjusted final price of R$6.68 billion, resolving arbitration related to the post-closing adjustment[39]. - The total consideration recorded for the acquisition of Cozani is R$ 7,211.6 million, with identifiable net assets at fair value amounting to R$ 4,575.2 million[151][160]. - The acquisition resulted in goodwill of R$ 2,636.4 million, reflecting expected future economic benefits from synergies[160]. - TIM paid R$ 250.7 million for service provision during the transition phase post-acquisition, recorded under prepaid expenses[155]. Operational Efficiency - Operating costs and expenses increased by 4.5% year-over-year to R$3,045 million in Q3 2023, growing below inflation[59]. - Normalized EBITDA reached R$3,011 million in Q3 2023, reflecting an 11.6% year-over-year growth, supported by strong service revenue performance and effective cost control[69]. - Normalized EBITDA margin was maintained at 49.7% in Q3 2023, an increase of 1.7 percentage points compared to Q3 2022[69]. - General and Administrative Expenses fell by 3.3% year-over-year in Q3 2023, primarily due to reduced spending on specialized professional services[64]. Strategic Initiatives - TIM S.A. plans to continue expanding its market presence and investing in new technologies to enhance service offerings[17]. - The company aims to have 100 renewable energy plants operational by the end of 2023, with 94 currently in operation[125]. - The partnership with the Cartão de Todos group aims to provide health services, with over 55,000 customers downloading the Tutti Saúde app[112]. - TIM's commercial partnership with Descomplica has registered over 300,000 customers on its education platform, offering various educational products[111]. Regulatory and Compliance - The Company adheres to Brazilian accounting practices and IFRS standards in its financial reporting[171]. - New accounting standards and amendments effective for the year ended September 30, 2023, include updates to CPC 37, CPC 48, and others[198]. - The merger was approved by the Board of Directors after obtaining necessary consents from regulatory bodies, including ANATEL[161].

Financial Data and Key Metrics Changes - The company's top line rose more than 9% year-over-year with EBITDA growing above 17% leading to a margin expansion of more than 300 basis points [34] - Operating free cash flow grew more than 65% versus the second quarter of 2022 and net income more than doubled [34] - Cash position rose by 46% year-over-year, ending the quarter at BRL 3.3 billion, with a net debt-to-EBITDA ratio decreasing to 1.4x [28] Business Line Data and Key Metrics Changes - Total service revenues grew 9.5% year-on-year, with mobile services expanding by 9.7% [39] - Postpaid revenues grew significantly, up by more than 10% year-over-year, with ARPU reaching almost BRL 52 [40] - Prepaid revenue expanded at a sound pace of close to 12% versus the second quarter of 2022, leading to an ARPU above BRL 14 [40] Market Data and Key Metrics Changes - The company achieved the highest mobile ARPU in Brazil across prepaid, postpaid, and blended segments [40] - The churn rate for postpaid reached its lowest mark in 12 quarters, indicating improved customer retention [40][37] - The company is leading in 5G deployment with 40% more sites than the second place [42] Company Strategy and Development Direction - The company is focusing on a value-based competition strategy, providing more for more offers to customers [12] - The second half of the year will see an increased focus on prepaid services and further enhancements to the customer value proposition [13] - The company is accelerating the implementation of partnerships and evolving its B2B verticals to consolidate leadership in key sectors [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining and expanding profitability due to various operational improvements and cost management strategies [36] - The company is optimistic about achieving upside risks to full-year numbers, contingent on several factors [51] - Management highlighted the importance of execution in capturing synergies and recovering inflation in a rational competitive environment [51] Other Important Information - The company was recognized as a great place to work, achieving a favorability of more than 90% [38] - The company is executing initiatives to reduce energy consumption and promote social impact through connectivity projects [38] Q&A Session Summary Question: Update on dividend distribution for this year - Management indicated that there are upside risks regarding shareholder remuneration, with a focus on increasing free cash flow and operating free cash flow margin [6][7] Question: Update on tax reform implications - Management stated that they are monitoring the tax reform discussions and will assess the impact once actual numbers are defined [8] Question: Sustainability of sales and marketing expenses - Management noted that sales and marketing expenses will depend on the number of commercial initiatives launched each quarter, with expectations for increased activity in the second half [11] Question: Price adjustments in prepaid and postpaid - Management confirmed that the bulk of adjustments in postpaid offers is completed, with a focus now shifting to prepaid services for potential price revisions [13][12] Question: Working capital dynamics - Management explained that the major impact on working capital was related to seasonality and vendor payments, with expectations for less pressure in the second half of the year [16] Question: Growth outlook for ARPU and customer base - Management emphasized a balanced growth strategy for both ARPU and customer base, with positive net additions expected in the postpaid segment moving forward [18][19]