Tim, new profit warning: drop in Ebitda, excellent performance in Brazil
Another bad day for Tim. The main telephony operator in Italy, which should be ready for a angular role with the Pnrr that is coming to life, he finds himself imprisoned under different problems that risk becoming authentic boulders.
The first is represented by a new profit warning (it is the third this year), arrived late yesterday evening, in which it is announced that the EBITDA will be declining in a range between 13 and 15%. The previous estimate spoke of a “single digit”. I revenues they will be down in single digits thanks to the excellent performance from Brazil Team, one of the (actually several) interest bearing assets of the company.
The second fundamental theme concerns the board of directors to be held tomorrow. The fact that he was called up for Friday 17 will have made numerology enthusiasts shiver. It is necessary to evaluate theoffer of Kkr, fixed at € 0.505 per share by a countervalue of the company around 11 billion.
Are they many or are they few? To do the arithmetic sum of all the legs of Tim, they are certainly few, so much so that many argue that the right price is the one loaded by Vivendi around € 0.81 per share. But the stock market still doesn’t like the ex-Sip. Today theopening was in deep red and at the end of the session the loss was 0.93%, with stock dropped to 0.4391 euros for a capitalization of less than 9.3 billion.
(Follows the future of the company and the triangle between Vivendi and Cdp …)