Guidance

TIM Brasil Financial Guidance

GOALS SHORT-TERM TARGETS (2025) MID-TERM TARGETS (UNTIL 2027)
Revenue Service Revenues Growth (Y/Y):
~5%
Service Revenues Growth (CAGR 24-27):
~5%
EBITDA EBITDA Growth (Y/Y):
6% – 8%
EBITDA Growth (CAGR 24-27):
6% – 8%
Investments (Capex) Nominal Capex:
R$ 4.4 Bln – 4.6 Bln
Nominal Capex:
R$ 4.4 Bln – 4.6 Bln (per year)
Operating Cash Flow (EBITDA-AL* minus Capex) EBITDA-AL* growth minus Capex (Y/Y):
14% – 16%
EBITDA-AL* growth minus Capex (CAGR 24-27):
11% – 14%
Shareholders Remuneration R$ 3.9 Bln – R$ 4.1 Bln ∑ 25-27: R$ 13.5 – 14 Bln.

*EBITDA after leasing payment.