Return to profit for Tim in 2025.
Today the board of directors of the Italian telecom operator, meeting under the chairmanship of Alberta Figari, approved the group’s consolidated financial statements and the separate financial statements project as of December 31, 2025. The company led by Pietro Labriola thus confirms the other data already released in February, including revenues up by +2.7% to 13.7 billion euros and business improvement, with a return to consolidated profit in the first full year after the NetCo sale.
The group records 519 million net profit at the parent company level, compared to the loss of 364 million recorded the previous year, and the figure benefits from non-recurring income totaling 157 million. The board of directors has also called the shareholders’ meeting for April 15, with the agenda including the approval of the financial statements, remuneration policies and long-term incentive plans for the 2026-2028 period, as well as the share buyback subject to the Sparkle closing and the share consolidation.
At the same time, the shareholder structure has also changed with the exit of Vivendi and the entry of Poste Italiane, which has become the largest shareholder with 27.3% of the capital. The entry of the company led by Matteo Del Fante has accelerated the group’s development plans, particularly in the business and public administration services segment managed by Tim Enterprise.
All the details.
RETURN TO PROFIT AFTER FOUR YEARS
The Tim group closed the 2025 financial year with a positive consolidated net result, before third-party interests, of 519 million. The net result attributable to the parent company shareholders is positive for 297 million (compared to -610 million in 2024), after the 222 million profit share attributable to minorities of Tim Brasil.
The fourth quarter contributed significantly to the result, generating 473 million profit, in addition to non-recurring income of 157 million, as already mentioned.
It has been four years since the group closed a profit-making financial statement, notes today the Corriere specifying that “the operating company, Tim, is still in loss but reduces the deficit to 155 million from 1.2 billion in 2024.”
IMPACT OF EXTRAORDINARY ITEMS
The result was significantly affected by the refund of the 1998 concession fee, which generated a positive effect of just under one billion euros (only partially offset by higher costs related to the change in duration from 8 to 4 years of the recognition in the income statement of deferred fixed network contract costs, indicates the group’s note), the revision of the duration of acquisition and activation costs of fixed network customers, with a negative impact of about 600 million; and the adjustment to the presumed realizable value of Sparkle, which resulted in a negative effect of about 115 million.
REVENUES AND PROFITABILITY GROW
The positive turnaround in the accounts is also accompanied by revenue growth of 2.7%, reaching 13.7 billion euros. Driving turnover is the performance of Tim Brasil, which recorded revenues of 4.2 billion, compared to 4.366 billion the previous year. The reported figure thus shows a decline of 3.3%, but on an organic basis there is still growth of 4.6%.
The group’s EBITDA after lease also rose to 3.7 billion, recording an increase of 6.5% compared to the financial year closed in 2024.
DEBT CONTINUES TO FALL
The adjusted net financial debt after lease as of December 31, 2025, is confirmed below 6.9 billion euros.
SHAREHOLDERS’ MEETING AND CAPITAL OPERATIONS
Finally, the board of directors has called the shareholders’ meeting for April 15, confirming the participation and voting method through the designated representative.
In the ordinary session, among the items on the agenda, in addition to the approval of the 2025 financial statements, are the report on the remuneration policy and fees paid, long-term incentive plans, and the authorization to purchase and dispose of treasury shares.
Specifically, the Meeting will be called to resolve the authorization to purchase, with subsequent disposal power, also in multiple tranches, of Tim ordinary shares up to a total countervalue limit of 400 million euros and for a maximum of 700,000,000 ordinary shares, to be understood as reduced, following the share consolidation, to a maximum total of 70,000,000 ordinary shares, corresponding to about 3.3% of the share capital.
In the extraordinary session, the share consolidation operation will also be proposed at a ratio of one new share for every ten existing shares. The buyback up to 400 million corresponds to 50% of the proceeds received from the sale of Sparkle to the Ministry of Economy and the Asterion fund.
