TIM S.A. (NYSE: TIMB) filed its annual Form 20‑F with the U.S. Securities and Exchange Commission and the Brazilian Securities and Exchange Commission (CVM) on March 30, 2026. The filing, posted on TIM’s investor‑relations website, contains audited financial statements for the 2025 fiscal year and an audit opinion from Ernst & Young Auditores Independentes S.S. Ltda. on the effectiveness of internal controls over financial reporting as of December 31, 2025.
The 2025 results show net service revenue rising 5.2% year‑over‑year to R$25.9 billion, while EBITDA increased 7.5% to R$13.6 billion, lifting the EBITDA margin to 51.0% from 48.6% in 2024. Net income reached R$4.3 billion, a 37.4% jump over the prior year, driven largely by higher mobile service revenue and improved cost efficiency.
In the fourth quarter, TIM reported earnings per share of $0.4457, beating the consensus estimate of $0.4439 by $0.0018, and revenue of $1.29 billion that matched analyst forecasts. The quarter’s performance was underpinned by a 9.5% rise in postpaid revenue and an 8.4% expansion of the customer base, reflecting sustained demand for mobile services.
CEO Alberto Griselli highlighted that the 2025 performance “tells a coherent story” and that mobile services, particularly postpaid, were the central engine of growth. Mobile service revenue grew 5.4% year‑over‑year, and the company’s focus on 5G infrastructure and broadband expansion has reinforced its competitive position against rivals such as Vivo and Claro.
TIM will provide detailed 2026 guidance on February 24, 2026, and has scheduled an extraordinary shareholders’ meeting for March 31, 2026 to approve the 2025 accounts. The company plans significant capital expenditures in 2026, prioritizing 5G rollout, broadband upgrades, and B2B growth initiatives.
The market reacted strongly to the earnings, with the stock rising nearly 8% in pre‑market trading, reflecting investor confidence in the company’s robust earnings beat, margin expansion, and leadership in Brazil’s telecom sector. The results reinforce TIM’s trajectory of disciplined cost management and strategic investment in high‑growth 5G and broadband services.
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