1) TIM Brasil held a meeting with investors in September 2012 to discuss the company's operations and strategy.
2) As one of the largest telecommunications companies in Brazil, TIM has over 69 million customers, 11,000 employees, and extensive network infrastructure across the country.
3) The presentation highlighted Brazil's growing economy and middle class as positive macroeconomic factors for TIM's mobile business, as well as the company's ongoing strategy to expand connectivity through investments in infrastructure and innovation.
This document provides an overview of TIM Brasil and its performance in a meeting with investors.
1) TIM Brasil is a major Brazilian telecommunications company with over 70 million customers, 11,000 employees, and a network covering over 94% of the urban population.
2) The mobile business in Brazil is driving sector growth, with increasing family income and consumption supporting demand. However, voice and data usage remains relatively low compared to other markets.
3) TIM Brasil reported resilient operational and financial results in 4Q12 despite macroeconomic headwinds, regulatory scrutiny, and increased competition. Key metrics like customer base, minutes of usage, and data usage grew strongly year-over-
This document summarizes a meeting between TIM Brasil and investors in September 2012. It provides an overview of TIM Brasil as the 2nd largest mobile operator in Brazil with over 70 million customers. It highlights TIM's network infrastructure and presence across Brazil. Macroeconomic indicators for Brazil are also presented showing growing household income, declining debt levels, and falling unemployment. The strategy section discusses how TIM can leverage its mobile network to grow its voice and data businesses by highlighting the convenience of mobile versus fixed lines.
This document summarizes various tax rates and limits for the years 2012-2013, including:
1) Estate and trust income tax rates ranging from 15%-35% depending on taxable income amount.
2) Gift and estate tax exemptions of $5.12 million in 2012 and $1 million in 2013, with tax rates of 35% and 55% respectively.
3) Section 179 expensing limits of $139,000 in 2012 and $25,000 in 2013, with phaseout thresholds of $560,000 and $200,000.
4) Depreciation limits and bonus depreciation rates for vehicles and equipment.
5) Corporate income tax rates ranging from 15
Fiserv has experienced strong growth over its 20 year history, with revenues increasing at a 24% compounded annual rate and earnings per share growing at 21%. The company focuses on organic revenue growth through expanding existing client relationships and adding new clients by providing integrated solutions and value-added services. Fiserv's transaction processing expertise positions it well to capitalize on emerging trends in financial services and health plan management. The company's integration initiative aims to tightly integrate its technology platforms to better serve clients and drive organic growth.
TIM Participações S.A. is a major Brazilian telecommunications company operating since 1998. It has over 70 million customers, making it the second largest mobile operator in Brazil. TIM provides mobile and landline phone services across Brazil through over 11,500 antennas covering 94% of the urban population. In 2012, TIM had over $18 billion in revenues and paid over $8 billion in taxes. The company aims to expand connectivity across Brazil and increase revenue through growing its customer base and data services.
CDON Group AB is the #1 e-commerce group in the Nordics operating 10 brands across 4 segments - Entertainment, Fashion, Sports & Health, and Home & Garden. In the last 12 months, the group generated 4.2 billion SEK in revenues from 225 million visits to its sites and 6.7 million orders shipped to 2.5 million customers. CDON aims to continue its growth through expanding its existing brands internationally, broadening its shopping mall offerings, pursuing acquisitions and startups, and gaining additional market share.
This document provides an annual review and financial highlights for ALLTEL for the year 2001. It summarizes key financial metrics such as revenues, earnings per share, dividends, and operating income which were up 5%, 4%, 3%, and 3% respectively from 2000 levels. It discusses ALLTEL's strategy of strengthening its management team, acquiring new customers through mergers and acquisitions totaling over $12 billion, and increasing value for customers through additional product and service offerings. Major initiatives in 2001 included improving the wireless network and operations to enhance the customer experience.
This document provides an overview of TIM Brasil and its performance in a meeting with investors.
1) TIM Brasil is a major Brazilian telecommunications company with over 70 million customers, 11,000 employees, and a network covering over 94% of the urban population.
2) The mobile business in Brazil is driving sector growth, with increasing family income and consumption supporting demand. However, voice and data usage remains relatively low compared to other markets.
3) TIM Brasil reported resilient operational and financial results in 4Q12 despite macroeconomic headwinds, regulatory scrutiny, and increased competition. Key metrics like customer base, minutes of usage, and data usage grew strongly year-over-
This document summarizes a meeting between TIM Brasil and investors in September 2012. It provides an overview of TIM Brasil as the 2nd largest mobile operator in Brazil with over 70 million customers. It highlights TIM's network infrastructure and presence across Brazil. Macroeconomic indicators for Brazil are also presented showing growing household income, declining debt levels, and falling unemployment. The strategy section discusses how TIM can leverage its mobile network to grow its voice and data businesses by highlighting the convenience of mobile versus fixed lines.
This document summarizes various tax rates and limits for the years 2012-2013, including:
1) Estate and trust income tax rates ranging from 15%-35% depending on taxable income amount.
2) Gift and estate tax exemptions of $5.12 million in 2012 and $1 million in 2013, with tax rates of 35% and 55% respectively.
3) Section 179 expensing limits of $139,000 in 2012 and $25,000 in 2013, with phaseout thresholds of $560,000 and $200,000.
4) Depreciation limits and bonus depreciation rates for vehicles and equipment.
5) Corporate income tax rates ranging from 15
Fiserv has experienced strong growth over its 20 year history, with revenues increasing at a 24% compounded annual rate and earnings per share growing at 21%. The company focuses on organic revenue growth through expanding existing client relationships and adding new clients by providing integrated solutions and value-added services. Fiserv's transaction processing expertise positions it well to capitalize on emerging trends in financial services and health plan management. The company's integration initiative aims to tightly integrate its technology platforms to better serve clients and drive organic growth.
TIM Participações S.A. is a major Brazilian telecommunications company operating since 1998. It has over 70 million customers, making it the second largest mobile operator in Brazil. TIM provides mobile and landline phone services across Brazil through over 11,500 antennas covering 94% of the urban population. In 2012, TIM had over $18 billion in revenues and paid over $8 billion in taxes. The company aims to expand connectivity across Brazil and increase revenue through growing its customer base and data services.
CDON Group AB is the #1 e-commerce group in the Nordics operating 10 brands across 4 segments - Entertainment, Fashion, Sports & Health, and Home & Garden. In the last 12 months, the group generated 4.2 billion SEK in revenues from 225 million visits to its sites and 6.7 million orders shipped to 2.5 million customers. CDON aims to continue its growth through expanding its existing brands internationally, broadening its shopping mall offerings, pursuing acquisitions and startups, and gaining additional market share.
This document provides an annual review and financial highlights for ALLTEL for the year 2001. It summarizes key financial metrics such as revenues, earnings per share, dividends, and operating income which were up 5%, 4%, 3%, and 3% respectively from 2000 levels. It discusses ALLTEL's strategy of strengthening its management team, acquiring new customers through mergers and acquisitions totaling over $12 billion, and increasing value for customers through additional product and service offerings. Major initiatives in 2001 included improving the wireless network and operations to enhance the customer experience.
CDON Group presentation Copenhagen, January 2013Qliro Group AB
CDON Group AB is the largest e-commerce company in the Nordic region, operating 10 brands across 4 segments - entertainment, fashion, sports & health, and home & garden. In 2012, the company had sales of SEK 2.89 billion and 1,030 employees. It has the number 1 market position in its home markets and is among the top 3 in several other European countries. The company has grown organically and through acquisitions, and has been listed on the Nasdaq OMX Stockholm since 2010. Going forward, its strategy is to broaden its Cdon.com site into a Nordic shopping mall and expand its Nelly.com fashion brand internationally.
This investor presentation by Multiplus S.A. provides an overview of the company as the leading loyalty coalition network in Brazil. It has 7.6 million members through partnerships with 133 companies. Multiplus has a unique business model that is scalable with low capital expenditures and generates recurring free cash flow and high returns. The company aims to improve customer experience, operational efficiency, and shareholder return through strategies like acquiring new members and partners, managing breakage, offering new redemption options, and co-marketing with partners.
- The document provides housing market statistics for the Greater Toronto Area (GTA) in March 2010, including sales, new listings, prices and housing type breakdowns.
- Total March sales were 10,430, with an average price of $434,696. First quarter 2010 sales reached a record 22,418.
- Single detached homes made up 47.6% of sales, with a median price of $458,000. Condo apartments accounted for 23.1% of sales, with a median price of $282,800.
- The housing market rebounded strongly after the economic downturn, and home ownership remains an attractive long-term investment, though price growth is expected to slow to single
- The document provides housing market statistics for the Greater Toronto Area (GTA) in March 2010, including sales, new listings, prices and housing type breakdowns.
- Total March sales were 10,430, pushing first quarter 2010 sales to a record 22,418. The average price in March was $434,696.
- By housing type, single detached homes made up 47.6% of sales, with a median price of $458,000, while condo apartments were 23.1% of sales at a median price of $282,800.
- The annual rate of growth for new listings continued to accelerate in March, up 42% from March 2009. The median price increased 14.4
This report summarizes the debt collection performance of 4 agents over time. It shows the number of daily calls made by each agent compared to their targets, as well as the ratio of cash collected to delinquent amounts owed. It also provides statistics on each agent's number of clients, proportion of promises kept to pay, total delinquent amounts and amounts of cash collected. Charts display the delinquent amounts and cash collected for each agent and bucket of days past due, with the highest collection rates for buckets between 31-90 days past due.
The document is Parker Hannifin Corporation's 2008 annual report which summarizes the company's financial performance for the fiscal year. It highlights that Parker Hannifin generated $12.1 billion in revenues, had 960,000 products, 449,000 customers, 62,000 employees, and 298 manufacturing plants. The annual report covers how the company is applying its expertise in motion and control technologies across many industries to increase customer productivity and profitability.
This document is a bill from Reliance Communications for services provided from April 1st to 30th. The total amount due is Rs. 200 with a payment due date of May 19th. The charges for the billing period include a monthly rental of Rs. 1,099 with discounts of Rs. 769.30 applied, resulting in current charges of Rs. 363.66 including taxes. The bill provides details of data usage and payment options.
What Small Business Wants from Banking & PaymentsPaul McAdam
Small businesses want simplified, comprehensive banking relationships that bundle multiple financial products. As businesses grow larger, they tend to use more complex banking and payment products. Relationship-based product packaging allows banks to better meet customer needs, improve profitability, and make it harder for competitors to copy their offerings or for customers to comparison shop. The survey found adoption of cash management, payments, credit, and deposit products increases as company size grows.
The document is PETsMART's 2002 annual report. It summarizes that in 2002:
- PETsMART grew its total sales to $2.7 billion and net income increased to $88.9 million.
- Margins increased to 29.2% and pet services sales grew 29%.
- The company completed transforming its stores into the new format and building out its distribution system.
- Going forward, PETsMART plans to focus on growing pet services, testing new concepts like pet boarding, and continuing to improve customer experience.
Logitech ClearChat at Rs.1000 @ 40% off mypocketdeal
- The document is an advertisement for a Logitech ClearChat stereo headset being sold at a discount of 33.3% off the regular price of Rs. 1500 for Rs. 1000 through a daily deals website.
- Key details provided about the headset include its frequency response, sensitivity, included accessories, and 1-year limited warranty.
- Additional deals from the website are shown below the main deal highlighting various local services and products available at discounted prices.
The document provides an overview of New Jersey's Urban Enterprise Zone program, which aims to encourage economic revitalization in designated urban communities through tax incentives for businesses. Some key benefits of the program include reduced sales tax rates, tax exemptions on certain purchases and investments, and tax credits for hiring employees or making qualified investments. Profiles of specific UEZ districts in Elizabeth, Hillside, Plainfield, and Roselle are also included, with details on population, employment levels, largest industries, and local contacts.
Toronto real estate statistics january 2011John Helfrich
January 2011 Market Watch. Statistical report from the Toronto Real Estate Board. Raw data for all MLS sales and listings in the GTA, including East End Toronto.
PETsMART is a leading retailer of pet supplies with over 500 stores in the US and Canada. In 1999, it had net sales of over $2 billion but an operating loss of $32 million due to losses from selling its UK subsidiary and investing in PETsMART.com. Going forward, PETsMART aims to be the preferred provider for pets' lifetime needs by focusing on "pet enthusiasts" and aligning its business around their needs over the next 3 years, including improving product selection, professional services, customer service, customer experience, and developing a loyalty program. PETsMART believes this strategy will drive operating excellence and strengthen its core business.
Sempra Energy exceeded all of its goals for 2000:
- Its unregulated businesses increased earnings to 18% of total from 1% previously, on track to meet its goal of one-third of earnings from these businesses by 2003.
- Sempra Energy Trading expanded significantly in Europe and other key markets, realizing $155 million in net income compared to $15 million targeted, over eight times its 1999 earnings.
- Sempra Energy Resources brought one new power plant online and advanced three additional projects toward construction to support the company's overall growth strategy.
Indian Krystal is a 50-year-old glass bangles company based in Firozabad, India that sells products through a direct selling model. The direct selling model allows customers to become distributors by purchasing products and recruiting others. Distributors can earn income from sales as well as bonuses from the sales of those they recruit. The compensation plan offers several ways to earn including from binary teams, easy bucks, bonuses, and recognition levels. Distributors work their way up ranks like silver and gold to earn additional rewards.
1) The document provides financial highlights from Google's Q3 2006 earnings call, including 70% year-over-year revenue growth and plans to acquire YouTube for $1.65 billion in stock.
2) Revenue growth was driven by increased monetization and traffic, with strong growth across advertisers. Operating income and net income reached record levels.
3) Google continued focusing on innovation and user experience while also forming new partnerships with companies like Fox, eBay, and Intuit.
This document discusses the challenges of creating multilingual websites. It identifies several approaches for translating content including browser-based translation, using Google Translate, creating unique domains for each language, and internationalization (i18n) which supports multiple languages on one site. The key considerations for internationalization are proper translation of content, images, and menus, testing the translated sites, and ensuring the user experience meets locale-specific expectations around language, region, fonts, and text direction.
This document is the 2011 Annual Drinking Water Quality Report for the City of Dania Beach. It summarizes that the city's water meets all federal and state standards for safety. It obtains groundwater from the Biscayne Aquifer and treats it through lime softening and filtration. In 2011 it added a new nanofiltration process. While most contaminant levels were low, the city violated standards for lead between August-September 2011 and for haloacetic acids from October-December 2011. The report provides a water quality table with test results and defines various terms.
Sektor perkhidmatan merupakan sektor ekonomi ketiga terpenting di Malaysia. Ia terdiri daripada pelbagai jenis perkhidmatan seperti pelancongan, pengangkutan, kewangan, dan utiliti. Sektor pelancongan adalah antara penyumbang terbesar kepada pertumbuhan ekonomi negara disebabkan oleh sumber daya semula jadi dan alam sekitar fizikal yang indah menarik minat pelancongan.
CDON Group presentation Copenhagen, January 2013Qliro Group AB
CDON Group AB is the largest e-commerce company in the Nordic region, operating 10 brands across 4 segments - entertainment, fashion, sports & health, and home & garden. In 2012, the company had sales of SEK 2.89 billion and 1,030 employees. It has the number 1 market position in its home markets and is among the top 3 in several other European countries. The company has grown organically and through acquisitions, and has been listed on the Nasdaq OMX Stockholm since 2010. Going forward, its strategy is to broaden its Cdon.com site into a Nordic shopping mall and expand its Nelly.com fashion brand internationally.
This investor presentation by Multiplus S.A. provides an overview of the company as the leading loyalty coalition network in Brazil. It has 7.6 million members through partnerships with 133 companies. Multiplus has a unique business model that is scalable with low capital expenditures and generates recurring free cash flow and high returns. The company aims to improve customer experience, operational efficiency, and shareholder return through strategies like acquiring new members and partners, managing breakage, offering new redemption options, and co-marketing with partners.
- The document provides housing market statistics for the Greater Toronto Area (GTA) in March 2010, including sales, new listings, prices and housing type breakdowns.
- Total March sales were 10,430, with an average price of $434,696. First quarter 2010 sales reached a record 22,418.
- Single detached homes made up 47.6% of sales, with a median price of $458,000. Condo apartments accounted for 23.1% of sales, with a median price of $282,800.
- The housing market rebounded strongly after the economic downturn, and home ownership remains an attractive long-term investment, though price growth is expected to slow to single
- The document provides housing market statistics for the Greater Toronto Area (GTA) in March 2010, including sales, new listings, prices and housing type breakdowns.
- Total March sales were 10,430, pushing first quarter 2010 sales to a record 22,418. The average price in March was $434,696.
- By housing type, single detached homes made up 47.6% of sales, with a median price of $458,000, while condo apartments were 23.1% of sales at a median price of $282,800.
- The annual rate of growth for new listings continued to accelerate in March, up 42% from March 2009. The median price increased 14.4
This report summarizes the debt collection performance of 4 agents over time. It shows the number of daily calls made by each agent compared to their targets, as well as the ratio of cash collected to delinquent amounts owed. It also provides statistics on each agent's number of clients, proportion of promises kept to pay, total delinquent amounts and amounts of cash collected. Charts display the delinquent amounts and cash collected for each agent and bucket of days past due, with the highest collection rates for buckets between 31-90 days past due.
The document is Parker Hannifin Corporation's 2008 annual report which summarizes the company's financial performance for the fiscal year. It highlights that Parker Hannifin generated $12.1 billion in revenues, had 960,000 products, 449,000 customers, 62,000 employees, and 298 manufacturing plants. The annual report covers how the company is applying its expertise in motion and control technologies across many industries to increase customer productivity and profitability.
This document is a bill from Reliance Communications for services provided from April 1st to 30th. The total amount due is Rs. 200 with a payment due date of May 19th. The charges for the billing period include a monthly rental of Rs. 1,099 with discounts of Rs. 769.30 applied, resulting in current charges of Rs. 363.66 including taxes. The bill provides details of data usage and payment options.
What Small Business Wants from Banking & PaymentsPaul McAdam
Small businesses want simplified, comprehensive banking relationships that bundle multiple financial products. As businesses grow larger, they tend to use more complex banking and payment products. Relationship-based product packaging allows banks to better meet customer needs, improve profitability, and make it harder for competitors to copy their offerings or for customers to comparison shop. The survey found adoption of cash management, payments, credit, and deposit products increases as company size grows.
The document is PETsMART's 2002 annual report. It summarizes that in 2002:
- PETsMART grew its total sales to $2.7 billion and net income increased to $88.9 million.
- Margins increased to 29.2% and pet services sales grew 29%.
- The company completed transforming its stores into the new format and building out its distribution system.
- Going forward, PETsMART plans to focus on growing pet services, testing new concepts like pet boarding, and continuing to improve customer experience.
Logitech ClearChat at Rs.1000 @ 40% off mypocketdeal
- The document is an advertisement for a Logitech ClearChat stereo headset being sold at a discount of 33.3% off the regular price of Rs. 1500 for Rs. 1000 through a daily deals website.
- Key details provided about the headset include its frequency response, sensitivity, included accessories, and 1-year limited warranty.
- Additional deals from the website are shown below the main deal highlighting various local services and products available at discounted prices.
The document provides an overview of New Jersey's Urban Enterprise Zone program, which aims to encourage economic revitalization in designated urban communities through tax incentives for businesses. Some key benefits of the program include reduced sales tax rates, tax exemptions on certain purchases and investments, and tax credits for hiring employees or making qualified investments. Profiles of specific UEZ districts in Elizabeth, Hillside, Plainfield, and Roselle are also included, with details on population, employment levels, largest industries, and local contacts.
Toronto real estate statistics january 2011John Helfrich
January 2011 Market Watch. Statistical report from the Toronto Real Estate Board. Raw data for all MLS sales and listings in the GTA, including East End Toronto.
PETsMART is a leading retailer of pet supplies with over 500 stores in the US and Canada. In 1999, it had net sales of over $2 billion but an operating loss of $32 million due to losses from selling its UK subsidiary and investing in PETsMART.com. Going forward, PETsMART aims to be the preferred provider for pets' lifetime needs by focusing on "pet enthusiasts" and aligning its business around their needs over the next 3 years, including improving product selection, professional services, customer service, customer experience, and developing a loyalty program. PETsMART believes this strategy will drive operating excellence and strengthen its core business.
Sempra Energy exceeded all of its goals for 2000:
- Its unregulated businesses increased earnings to 18% of total from 1% previously, on track to meet its goal of one-third of earnings from these businesses by 2003.
- Sempra Energy Trading expanded significantly in Europe and other key markets, realizing $155 million in net income compared to $15 million targeted, over eight times its 1999 earnings.
- Sempra Energy Resources brought one new power plant online and advanced three additional projects toward construction to support the company's overall growth strategy.
Indian Krystal is a 50-year-old glass bangles company based in Firozabad, India that sells products through a direct selling model. The direct selling model allows customers to become distributors by purchasing products and recruiting others. Distributors can earn income from sales as well as bonuses from the sales of those they recruit. The compensation plan offers several ways to earn including from binary teams, easy bucks, bonuses, and recognition levels. Distributors work their way up ranks like silver and gold to earn additional rewards.
1) The document provides financial highlights from Google's Q3 2006 earnings call, including 70% year-over-year revenue growth and plans to acquire YouTube for $1.65 billion in stock.
2) Revenue growth was driven by increased monetization and traffic, with strong growth across advertisers. Operating income and net income reached record levels.
3) Google continued focusing on innovation and user experience while also forming new partnerships with companies like Fox, eBay, and Intuit.
This document discusses the challenges of creating multilingual websites. It identifies several approaches for translating content including browser-based translation, using Google Translate, creating unique domains for each language, and internationalization (i18n) which supports multiple languages on one site. The key considerations for internationalization are proper translation of content, images, and menus, testing the translated sites, and ensuring the user experience meets locale-specific expectations around language, region, fonts, and text direction.
This document is the 2011 Annual Drinking Water Quality Report for the City of Dania Beach. It summarizes that the city's water meets all federal and state standards for safety. It obtains groundwater from the Biscayne Aquifer and treats it through lime softening and filtration. In 2011 it added a new nanofiltration process. While most contaminant levels were low, the city violated standards for lead between August-September 2011 and for haloacetic acids from October-December 2011. The report provides a water quality table with test results and defines various terms.
Sektor perkhidmatan merupakan sektor ekonomi ketiga terpenting di Malaysia. Ia terdiri daripada pelbagai jenis perkhidmatan seperti pelancongan, pengangkutan, kewangan, dan utiliti. Sektor pelancongan adalah antara penyumbang terbesar kepada pertumbuhan ekonomi negara disebabkan oleh sumber daya semula jadi dan alam sekitar fizikal yang indah menarik minat pelancongan.
This document discusses how ELT teachers can transition to being language coaches. It explains that coaching accelerates performance by helping individuals identify their purpose. Some reasons learners may hire a coach include not making progress, being embarrassed to speak, needing fast improvement, or wanting specific help not offered in classes. Coaching skills discussed are establishing trust, active listening, questioning, effective communication, creating awareness, designing action plans, goal setting, and accountability. Experience and qualifications helpful for coaches include language teaching, learning, coaching training, and a business mindset. The speaker provides coaching training resources and explains how coaches can develop learner autonomy inside and outside the classroom. Contact information is provided for further discussion.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
The document discusses innovation in an era of rapid technological change and exponential growth. It notes that incremental improvements are no longer sufficient and companies must innovate across customer segments, products, channels, experiences and business models to survive. The presentation emphasizes that the world is changing quickly and businesses must constantly adapt to new realities in order to thrive in today's volatile environment.
The document provides a cost estimate for job number 43400 for AGFA (PTY) LTD. It estimates the costs for supplying an aircon, chasing walls, and laying piping. The total estimated cost is R2,686.58 including VAT. Labour for the standard service is estimated at R1,282.50, chasing walls is estimated at R570, and laying piping is estimated at R342.
- The Swiss Federal Council approved a strategy in 2007 called "eHealth Switzerland" to provide the population access to an efficient, secure and cost-effective healthcare system.
- In 2013, the Federal Council adopted a draft law on electronic patient records to improve the quality and safety of medical treatments by making patient medical data electronically accessible to healthcare professionals.
- The electronic patient record allows all those involved in treatment access to medical information from any location or time. However, only healthcare professionals granted access rights by patients can view the data.
- Participation in the electronic patient record by both patients and healthcare professionals in ambulatory care is voluntary.
The document discusses the origins and purpose of the Agpeya, which are prayers used in the Coptic Orthodox Church. It notes that the Agpeya has its origins in the Apostolic age when St. Mark the Apostle introduced seven canonical prayers to the Alexandrine Church in Egypt. Over time, the format of the Agpeya was established through divine revelation, with its twelve Psalms and various prayers. The Agpeya is prayed throughout the day at set hours and serves as a school of different types of prayer like thanksgiving, penitence, praise, and meditation on God's attributes. It incorporates multiple forms of spiritual communication with God.
Jesus - the One I love
Let’s get to discuss a bit The Character of the One we love to follow
His Creativity
His Depth
His Righteousness
His Psychological insight
His Compassion
Berita utama mencakup perintah PM Kamboja untuk menembak pelanggar perbatasan dari Thailand di sekitar kuil Preah Vihear yang diperselisihkan, topan Ketsana yang menewaskan 23 orang di Vietnam serta pemboman di Irak yang menewaskan 18 orang.
This presentation is designed to help you forge new strategic partnerships, unleash your full leadership potential and
leverage your extensive network of connections in all sectors to
build strategic alliances that enhance and deepen your value proposition
The document discusses issues related to water supply for the city of Dania Beach and a proposed Regional Activity Center (RAC) Amendment. Water supply has become more complex due to increased demand, saltwater intrusion, and weather variations. The city's water supply plan and a proposed RAC amendment were found to be not in compliance due to population projections and long-term capacity deficiencies. The city is pursuing options to address the objections, including negotiating an agreement with Hollywood to purchase potable water capacity. A decision is needed by November 18th to resolve the issues for the RAC amendment.
Dokumen tersebut berisi peraturan pemarkahan untuk soalan-soalan matematika dalam peperiksaan percubaan Sijil Pelajaran Malaysia tahun 2006. Ia memberikan kunci jawapan dan peraturan penganugerahan markah untuk setiap soalan dalam kertas 1 dan 2. Peraturan ini digunakan untuk menilai jawapan peserta dengan adil dan konsisten.
Origen was one of the first great Christian scholars and theologians. He established a catechetical school in Alexandria where he taught and wrote extensively on scripture. Origen believed scripture contained deeper allegorical meanings beyond the literal text and should be interpreted through reason and philosophy informed by faith. He was influential but considered heretical for some of his beliefs including the preexistence of souls and universal salvation. Origen viewed scripture as divinely inspired and the key to understanding God and spiritual truth.
Universal Health Services is one of the largest hospital management companies in the US. In 2004, revenues grew 16% to $3.9 billion but net income fell 15% due to rising bad debt. UHS is addressing challenges by expanding facilities, investing in new technologies, and focusing on high-quality care. Recent growth strategies included opening new hospitals, expanding existing facilities, and acquiring hospitals in growing markets.
Universal Health Services is one of the largest hospital management companies in the US. In 2004, revenues grew 16% to $3.9 billion but net income fell 15% due to rising bad debt. UHS is addressing challenges by expanding facilities, investing in new technologies, and focusing on high-quality care. Recent growth strategies included opening new hospitals, expanding existing facilities, and acquiring hospitals in growing markets.
Bharti Airtel Limited is a leading telecommunications services provider in India that offers mobile services, telemedia services, and business solutions. It has over 251 million customers across its mobile, fixed line, and broadband services. In 2012, Bharti Airtel reported revenues of Rs. 202,395 million and EBITDA of Rs. 61,839 million. Since its founding in 1995, Bharti Airtel has grown from a single circle operator in India to becoming one of the largest telecom operators in the world by subscribers.
Teton Valley Recycling, Llc Financial PlanScot Acocks
This document contains a financial plan for Teton Valley Recycling (TVR) LLC. It outlines startup expenses totaling $12,950 which will be funded by $2,000 in cash and $11,500 in long-term liabilities. Sales are projected to grow from $55,800 in FY2010 to $111,598 in FY2011 to $223,196 in FY2012. Payroll is expected to increase from $14,106 in FY2010 to $39,308 in FY2011 to $86,544 in FY2012 as the business grows.
This proven method eliminates existing premium payments to overcome the biggest repurchase obstacle for life insurance policies. It works by insuring clients for 10 years with zero premiums, then providing a cash payout and profit after 10 years. This benefits policy holders by reducing financial burden and increasing ability to repurchase policies. It also benefits insurance agents by increasing business and making it easier to achieve sales targets. For the business to succeed, it must have clear partner income opportunities and recycle client wealth through a capital protecting and absolute return savings plan.
This document outlines the business opportunity and compensation plan for an online direct selling company called DSL. Key points include:
- DSL operates in the telecommunications market with over 80 million potential customers in the Philippines.
- To start, one pays P4,888 to become a subscriber and gain access to DSL's products and marketing plan.
- The compensation plan includes bonuses paid on enrolling new distributors as well as revenues from product sales and transactions within one's distribution network.
- The document promotes several incentives for growth such as cash bonuses, travel rewards, and ownership of lucrative depot and stockist positions within DSL.
This document describes an HLA Income Builder investment product that provides guaranteed yearly income, dividends, and death/total permanent disability benefits. It offers a 5.5% compounding interest rate and increases guaranteed yearly income every year. After 20 years of deposits, the investment is projected to pay out over RM1 million in guaranteed yearly income and dividends, as well as a death benefit of over RM1.3 million. The HLA Income Builder aims to provide the best returns in the medium to long term with no risk to deposits.
This document describes an HLA Income Builder investment product that provides guaranteed yearly income, dividends, and death/total permanent disability benefits. It offers a 5.5% compounding interest rate and increases guaranteed yearly income every year. After 20 years of deposits, the investment is projected to pay out over RM1 million in guaranteed yearly income and dividends, as well as a death benefit of over RM1.3 million. The HLA Income Builder aims to provide the best returns in the medium to long term with no risk to deposits.
Hughes Media Law Presents: Cascadia Capital - Venture Funding In Today's Marketguest0855f4
The document discusses venture capital funding in today's marketplace. It provides an overview of Cascadia Capital, an investment bank serving emerging growth and middle market companies. Cascadia Capital offers expertise in mergers and acquisitions, corporate finance, and strategic advisory services across various industries including information technology. The document then reviews the current state of technology M&A, venture capital fundraising and deals, and public company valuations. Overall, activity is increasing from 2009 lows but remains below pre-recession levels as the markets continue to recover.
Presentation on the sale of light cemigEquatorialRI
Cemig is increasing its stake in Light S.A., an electricity distribution company. This marks the beginning of a second stage in Light's history and a new era of growth. Cemig will become a minority shareholder alongside a new investment fund in a special purpose company that will hold up to a 26.06% stake in Light. The transaction price is R$785 million for each 13.03% block of Light shares. This acquisition will create opportunities to capture synergies between Cemig and Light's generation, transmission and distribution assets and customer bases. It will also increase Cemig's exposure to Rio de Janeiro's growing economy.
The document provides an overview of AES Brasil Group, including:
1) Market share information for distribution and generation companies.
2) Shareholding structure details for AES Brasil Group and its subsidiaries.
3) Key operating and financial metrics for AES Eletropaulo, including consumption trends, investments, SAIDI/SAIFI indexes, costs and expenses, EBITDA, net income, dividends paid, and debt profile.
This document is Mohawk Industries' 2001 Annual Report. The summary provides:
1) Mohawk achieved record financial results in 2001 despite economic challenges, with net earnings of $188.6 million and diluted EPS of $3.55, up 15% from 2000.
2) Mohawk continued improving operations through cost reductions, debt paydown, inventory management and cash flow increases.
3) Mohawk completed a merger with Dal-Tile to become a leader in both soft and hard flooring, with the goal of expanding product categories and driving shareholder value.
This document is Mohawk Industries' 2001 Annual Report. The summary provides:
1) Mohawk achieved record financial results in 2001 despite economic challenges, with net earnings of $188.6 million and diluted EPS of $3.55, up 15% from 2000.
2) Mohawk continued improving operations through cost reductions, debt paydown, inventory management and cash flow increases.
3) Mohawk completed an acquisition of Dal-Tile to become a leader in both soft and hard flooring, with the goal of expanding product categories and market position.
The Case for Promoting Debit Cards: Why They Are Still a Growth ProductPaul McAdam
While debit cards have been commonly used to make consumer retail purchases for more than a decade, many financial institutions may have placed less priority on their debit card business in wake of regulatory changes. After rapid annual growth over the past decade, growth appears to have plateaued for many institutions in the last year or two. However, debit cards remain a profitable product to promote for smaller financial institutions as demonstrated by FIS research findings and supporting case studies with a community bank and credit union outlined in this research brief.
This document summarizes information about a telecommunications company in the Philippines called VMobile. It discusses VMobile's business model, which involves selling prepaid phone and internet products while also offering members a business opportunity to earn commissions. Members can earn money through direct sales, recruiting others, and from product purchases within their network. The summary provides high-level information on VMobile's compensation plan that rewards different types of sales and recruiting with incentives like cash bonuses and rewards.
Ideiasnet reported its 3Q09 results, with net revenue down 2.2% YoY to R$226.4 million but up 23.5% from 2Q09. EBITDA declined 50.1% YoY to R$3.7 million but reversed losses in 2Q09. Several portfolio companies returned to historic margins. The company invested R$5.96 million in the quarter and ended with R$65.5 million in net debt. Subsequent events included a tender offer to acquire Ideiasnet shares and an acquisition by Trinnphone doubling its size.
CARE is a leading credit rating agency in India. It is expanding internationally to provide rating services in other countries. CARE's IPO is priced at 21.5x annualized EPS for FY13, which is lower than its peers. The company recommends investors invest in CARE's IPO due to its inexpensive valuation and CARE's long track record and market position in the credit rating industry.
This document describes the compensation plan for a multi-level marketing company. It outlines 12 levels of bonuses and royalties members can achieve, from binary matching bonuses to royalty percentages on company-wide sales. The higher ranks incorporate requirements for building large teams with multiple members also achieving high ranks. Examples are given showing the potential monthly income for an ID achieving different levels in the compensation plan.
Gafisa reported strong financial results for 1Q10, with launches totaling R$703 million, up 339% YoY. Pre-sales reached R$857 million, a 53.5% increase YoY. Net revenue rose 67% to R$908 million, while adjusted EBITDA increased 120% to R$169 million with an 18.6% margin. Gafisa continued expanding its national footprint and consolidated land bank, which totaled R$15.6 billion. The company also completed a follow-on share offering that raised R$1.02 billion to fund growth initiatives.
ATSYD 13 Jason Barnes/Kaylie Smith - News Ltd/RubiconGavin Stewart
This document discusses how technology is bringing buyers and sellers together in digital advertising. It provides examples of how programmatic advertising benefits publishers through increased revenue, market share, and efficiency. It also benefits agencies and marketers through improved ROI, access to brand-safe environments, and efficiency gains. Data is a key benefit for all parties. The rise of programmatic guaranteed and private marketplaces allows buyers and sellers to automate direct sales transactions. Overall, technology is creating a more efficient digital advertising marketplace.
Similar to Meeting with investors of january 2013 (1) (20)
TIM Part - Apresentação Institucional - 2T20TIM RI
O documento fornece uma visão geral do mercado brasileiro de telecomunicações. Apresenta dados sobre a economia brasileira, classes sociais, desemprego, endividamento e confiança do consumidor, destacando os impactos da crise e da pandemia. Também compara o mercado brasileiro com outros países, mostrando que o Brasil possui a 5a maior base de clientes móveis do mundo, mas com oportunidade de melhorar o ARPU.
This document provides an overview of TIM Brasil, including its business segments, strategy, and financial highlights. It discusses TIM's position as a challenger operator in Brazil with national presence and the best 4G coverage. It also outlines TIM's fiber infrastructure and initiatives in connectivity solutions, IoT, and residential broadband. The document reviews TIM's 2019 financial results and highlights growth in revenue, EBITDA, margins, and TIM Live. It also discusses TIM's focus on ESG and digital inclusion programs.
The document is a presentation by TIM Brasil for investors that covers several topics:
- An overview of TIM Brasil including its history, financial results, and corporate governance practices.
- Analysis of the Brazilian mobile market trends showing a shift to mobile data and postpaid subscribers as well as network upgrades.
- TIM Brasil's positioning in the market with a focus on mobile, particularly growing its postpaid base, and its network and service investments.
- Highlights of TIM Brasil's financial and operational results and KPIs in recent years showing consistent growth above market averages.
This document is a presentation by TIM Brasil to investors in June 2020. It summarizes the impacts of COVID-19 on Brazil, including major economic impacts like a decline in GDP forecasts and a drop in retail sales. It also discusses government measures taken in response like assistance payments and tax relief. The presentation then discusses TIM's quick response to the pandemic to care for employees, customers, and society. It provides an overview of the mixed impacts on TIM's business so far and its strategic pillars for the future, including investing in infrastructure, pursuing disruptive efficiency, growing its mobile and ultra-broadband businesses, and developing new revenue sources.
This document provides an institutional presentation by TIM Brasil for the 1st quarter of 2020. It includes the following sections:
- About TIM - Provides an overview of TIM Brasil as an operator with national presence and best 4G coverage, as well as its fiber network, residential broadband, IoT, and financial highlights for 2019.
- Market Overview - Discusses the Brazilian market context, including the economic environment, consumer demographics, and trends showing increased data usage and prominence of internet/mobile services.
- Infrastructure - Will describe TIM's network infrastructure.
- Strategy and Positioning - Will outline TIM's strategic priorities and positioning.
- Operating Evolution -
O documento apresenta uma visão geral do mercado brasileiro de telecomunicações no 1T20. A economia brasileira enfrenta desafios como a lenta recuperação e o impacto da pandemia, mas o setor ainda é relevante globalmente e oferece oportunidades de crescimento de receita média por usuário. A apresentação também discute a dinâmica do consumidor brasileiro e suas classes sociais.
The document provides an overview of TIM Brasil's business as of April 2020. It discusses TIM's market positioning in Brazil as the country transitions to increased mobile internet and data usage. TIM has transformed its customer base from primarily prepaid to incorporating more postpaid subscribers. The presentation also outlines TIM's portfolio of mobile and home broadband products and services to address evolving customer needs.
TIM Brasil's 4Q19 institutional presentation provides an overview of the company, the Brazilian telecommunications market, TIM's strategy and financial results. Some key points:
- TIM is Brazil's second largest mobile service provider and has the best 4G network coverage nationwide. It is expanding its fiber network and residential broadband customer base.
- The Brazilian economy showed slow recovery in 2019 but structural drivers point to improving conditions. Mobile internet usage is growing while traditional fixed services decline.
- TIM's strategy focuses on leveraging infrastructure investments, expanding fiber broadband and driving digital transformation. In 4Q19 it achieved its highest ever EBITDA and margin as well as strong cash flow growth.
1) O documento apresenta os resultados financeiros da TIM Brasil no 4o trimestre de 2019.
2) Apresenta informações sobre a estrutura acionária, governança corporativa e compromisso com a sustentabilidade da empresa.
3) Fornece uma visão geral do mercado brasileiro de telecomunicações, incluindo dados sobre o cenário macroeconômico e tendências de consumo.
[1] O documento apresenta o plano estratégico da TIM Brasil para os anos de 2020 a 2022.
[2] O plano visa evoluir iniciativas já implementadas e transformar habilidades nos próximos 3 anos, focando em infraestrutura, eficiência disruptiva, móvel, banda larga fixa, novas fontes de receita e ESG.
[3] Detalha investimentos em rede móvel e fixa, transformação digital, eficiência de processos, mudança do foco de volume para valor no segmento móvel e
This document provides a summary of TIM Brasil's strategic plan for 2020-2022. The strategic plan has two pillars - evolve and transform. Under evolve, TIM aims to move from volume to value in mobile business and grow broadband with financial discipline. Under transform, TIM aims to implement new operating models, drive additional growth through adjacent markets, and focus on infrastructure, disruptive efficiency, mobile, UBB, new revenue sources, and ESG. The plan outlines initiatives across these areas around network expansion, IT transformation, efficiency improvements, and leveraging assets in new business areas like IoT and mobile advertising.
TIM Participações S.A. and its subsidiary TIM S.A. released an update to their 2020-2022 Strategic Plan and guidance. The update reaffirms commitments to (1) cost control measures to improve profitability and exceed a 40% EBITDA margin by 2022, (2) efficient capital allocation focused on network and IT infrastructure projects, and (3) continued expansion of cash generation by growing the EBITDA-CAPEX over revenues indicator above 20%. The strategic plan update is presented after TIM achieved many of its 2019-2021 plan goals despite a slower economic recovery than projected. The new plan targets mid-single digit service revenue growth and EBITDA growth annually through 2022.
O documento resume o plano estratégico 2020-2022 da TIM Participações S.A. e sua subsidiária TIM S.A. para os próximos 3 anos. O plano estratégico mantém os pilares de 2019-2021 com foco em (1) preparar a infraestrutura para o futuro com 5G e automação, (2) mudar do volume para o valor no negócio móvel, (3) capturar oportunidades de crescimento na banda larga fixa, e (4) aprimorar a eficiência para manter a liderança
This document provides an overview and summary of TIM Brasil's 3Q19 financial results. Some key highlights include:
- Service revenues grew 1.0% YoY in 3Q19, with gradual and continuous growth acceleration.
- EBITDA grew 6.8% YoY in 3Q19, with EBITDA margin expanding to 39.6% in 3Q19 from 37.9% in 3Q18.
- Solid cash generation with R$4.2 billion in service revenues and R$1.7 billion in EBITDA in 3Q19.
This document provides an overview and summary of TIM Brasil's company presentation from December 2019. The 3-sentence summary is:
TIM Brasil has transformed its customer base through migration from prepaid to postpaid plans, supporting revenue growth from prepaid declining and postpaid and other revenues increasing. The presentation outlines TIM's market positioning, recent financial results for 3Q19, and its strategic plan for 2019-2021 to further the customer base transformation and consolidate growth through investments in quality, price, and an expanded portfolio. Financial results for 3Q19 are presented on a pro forma basis excluding impacts from new IFRS accounting standard adoptions for comparability over time.
O documento apresenta os resultados financeiros da TIM Brasil no 3T19, discutindo sua posição no mercado, estratégia e desempenho operacional e financeiro. Apresenta também as perspectivas da empresa para o futuro.
TIM Brasil held an institutional presentation for the third quarter of 2019. The presentation provided an overview of TIM's business including its position in the Brazilian market, operational and financial highlights, and outlook. It noted that TIM is the #2 mobile service revenue operator in Brazil with national presence and the best 4G coverage. It also discussed the Brazilian telecommunications market trends including growing data usage and shift to postpaid plans. The presentation contained sections on TIM's strategy, operating and financial evolution, and future opportunities in areas like 5G and fiber broadband.
Tim Part's Presentation - CS 2019 TechFin & Telecom ConferenceTIM RI
1) TIM Participações discussed expanding into new markets like financial services and mobile advertising by leveraging its existing assets such as partnerships, sales channels, big data analytics, and billing capabilities.
2) TIM's prepaid digital wallet has over 33 million users transacting over R$513 million per month on telecom, content and other services. It is also expanding into microfinance and insurance.
3) TIM has a strong salesforce through its own shops and resellers, and its app has over 11 million users that help increase service acquisition and customer engagement.
This presentation provides an overview of TIM Brasil, the Brazilian telecommunications subsidiary of Telecom Italia. It summarizes TIM's solid financial and operational results in recent years, with growing revenue, EBITDA, and margins. It also outlines key trends in the Brazilian mobile market like increasing data usage and the transition to postpaid plans. Finally, it positions TIM as well-suited to capitalize on new demands through its fiber network and focus on customer experience as it executes a consolidation strategy from 2019-2021.
O documento apresenta uma visão geral do mercado brasileiro de telecomunicações e das tendências do setor. Apresenta dados sobre a população brasileira, situação econômica, mercado móvel global e hábitos dos consumidores, destacando o crescimento do uso de dados móveis e aplicativos.
1. TIM Brasil - Meeting with Investors
TIM Brasil
September, 2012 - Meeting with Investors
January, 2013
2. Knowing TIM Better
Shareholders Structure TIM: A Huge Brazilian Company
Presence in Brazil since 1998
TIM Brasil Serv. e Part. S.A. Minoritários Unique Telco company listed on the Novo Mercado:
ON: 67% (1.611.969.946) ON: 33% (805.662.701)
.100% Tag Along and equal dividend rights
. One single class of shares
. Independent Board members
TIM Participações S.A. . A more strict disclosure policy
100% 100% ~ 11,000 direct employees
+ 21,000 indirect jobs
TIM Celular S.A. Intelig
+400,000 Points of Sales (Top-up and SIM cards)
+ 130 own stores
> 70 million costumers. The 2nd player.
11 Customer Care Centers with 14,000 consultants
Highest level of ~ 11,500 antennas in 3,300 cities, covering +94% urban
Requirement of
protection for
Corporate population
Governance
minority
Demand for
transparency and shareholders Exclusive attendance of 391 municipalities and 1.64
Legal disclosures million customers
Requirements
Payment of R$7.3 billion in taxes and contributions in
2011
Investment: Approx. R$3 billion in 2012 (from 2009 to
Brazilian Law “Nível” 1 “Nível” 2
2014, TIM expects to invest R$20.5 billion)
“Lei das S.A”
2
4. Macro-Economic Fundamentals Remain Solid
Families Income is increasing continually
Brazilian families consumption is growing every year
Average Real Salary (R$)
Families consumption on Brazilian GDP demand side - %YoY growth
8 2,000
6.9
1,900
7 6.1
5.7 1,800
6 5.2
4.8 1,700
5 4.4 4.1 4.3
1,600
4 3.0 1,500
3 1,400
2 1,300
Lowest
1 1,200
Growth 1,100
-
2006a 2007a 2008a 2009a 2010a 2011a 2012e 2013e 2014e 1,000
Family Indebtness will probably drop Unemployment rate is reaching a low record constantly
% debt service/families income Unemployment Rate(%)
30 13.0 12.4
12.0 11.5
25 22.4
19.1 19.2 20.3 19.5 20 20.2 11.0
17.8 9.9 10.0
20 10.0 9.3
Peak 9.0 8.1
15 7.9
8.0
10 6.7
7.0 6.0
6.0 5.5
5 4.8
5.0 4.2
- 4.0
3.0
Source: Credit Suisse, BaCen and IBGE 4
5. Mobile Business in Brazil is driving sector growth
A huge market…. …with demographic bonus … and still low Voice and Data usage
Serv.Rev. US$ Bln; Mln subs; 2011 Mln of people MoU (minutes); Data as a % of Serv. Rev.; 2011
173 2002 2009 2014 Minutes of Use %Data Serv. Rev.
Service 108 898
Revenue 82 Class
37 A/B 14.5 20 29.1
- 50.00 100.00
4o 150.00 200.00 250.00 300.00 350.00 400.00 450.00 500.00
55%
C 67.5 95 118 452 38%
986 339 31%
D 46.1 44.5 32.1 19%
Subscriber 894 116
Base E 46.6 28.9 16.8
332
4o Above From US$891 From US$558 From zero
246 US$3.843 to US$3.843 to US$891 to US$558
- 200.00 400.00 600.00 800.00 1,000.00 1,200.00
Brazil: GDP vs. Telecom Revenues Growth ARPM Fixed vs. Mobile
% Growth YoY R$
Mobile
25%
20%
15%
10% TIM
5% Mobile Market 50% mobile
0% GDP**
discount
Fixed
-5%
-10% Wireline
Market* 2006 2007 2008 2009 2010 2011 2012
-15%
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12
**BaCen estimates for 3Q12
Source: Company estimates; BofA ML Global Wireless Matrix 3Q12; Teleco; IBGE; Bloomberg; Credit Suisse * Wireline Market is composed by incumbents only 5
6. Mobile Segment to Support Universalization
Customers Growth - Telecom Market Transformation
(Mln customers) Total Revenues- R$ Bln
+114% 258.9
242.2
202.9
174.0 106 117 126 134
150.6
Mobile 121.0
+11% (40%)
(44%)
Fixed (48%)
39.4 41.2 41.5 42.0 43.0 43.7
Fixed (56%)
2007 2008 2009 2010 2011 3Q12 (60%)
(56%)
Mobile Mobile
64% 79% 90% 105% 124% 132% (52%)
Penetration (44%)
Customers Growth – Broadband 2009 2011 2014 2016
(Mln customers)
50.8
+3,658%
33.2
Mobile
16.3 18.6
11.4
14.6 +86% Mobile Segment as the Growth Driver and
10.0
Fixed Sector Universalization
4.1 13.8
1.4
2008 2009 2010 2011 3Q12
6
7. FMS Secular Trend Remains on Play
Fixed to Mobile Substitution… …impacting Fixed Incumbents … benefiting Mobile Segment
Fixed Tariff Premium over Mobile Lines in Service
ARPM (R$/min) (Fixed - Residential, Mobile, D% yoy, D% yoy growth average)
Fixed +18% Mobile
(Residential) -6%
Mobile
50% mobile
discount
1Q11 3Q12 1Q11 3Q12
Fixed
Revenues
2006 2007 2008 2009 2010 2011 2012
(Fixed, Mobile, D% yoy, D% yoy growth average)
Leading Traffic to a Sharp Increase Fixed +9% Mobile
-7%
(Bln Minutes)
23.8 26.4
20.1 21.8 22.6
18.4
2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 1Q11 3Q12 1Q11 3Q12
EBITDA
Leadership in LD Market Share (Integrated, Mobile as TIM, D% yoy, D% yoy growth average)
(% Minutes) Integrated Mobile
88.2% -5% +10%
66.5%
53.3% 49.8% 48.5% 48.3% 49.7%
6.7% 45.8% 47.8% 47.7% 48.1%
28.3% 42.0%
jun/09 jun/10 jun/10 dec/10 jun/11 dec/11 mar/12
1Q11 3Q12 1Q11 3Q12**
TIM Incumbents*
* Telemar, Brasil Telecom, Telesp e Embratel. Source: Companies results and Teleco. **TIM’s Organic EBITDA 7
9. Main Highlights
Quarter’s Highlight
Total Net Revenues
(R$ Billion)
+11.0%
Revenue Growth Solid data growth MTR cut impact
+8.0%
19.1% (Revenues +35% Provisioning of
8.0%
7.0% YoY) advertisement
4.7 13.7
4.4 12.4 Smart/webphone credit loss (R$16
sales pick-up mln)
1Q12 2Q12 3Q12
3Q11 3Q12 9M11 9M12 Sales resilience in Provisioning for
spite of sales ban administrative
EBITDA procedures
MOU at record established
(R$ Billion)
level of 139 between 2007/09
3.63 R$ 42mln
Organic EBITDA Live TIM up and (R$26 mln)
1.24 R$ 42mln
+7.5% +8.6% Growth running Intelig fixed
12.6%
6.0% 7.5% Postpaid human at business
+3.8% 1.20 3.58 24% YoY growth performance
1.16 1.1
+7.3%
3.34
1Q12 2Q12 3Q12
3Q11 3Q12 9M11 9M12 Frost Abrasca
Sullivan Prize of Institutional
Best Value Investor
Practices Creation “Best IR Team”
Award
A tough quarter, but TIM is managing to recover
9
10. Reality Check: Recent Events Overshadowing Fundamentals
Sales Ban Drop Call Report Tax Issue Contingences
Impacts: Impacts: Event: Event:
Reduction in gross Damage on image 2006 corporate Allegation of low
adds during the period restructuring (TIM provisioning for
Status: Nordeste + TIM
Small economic contingencies
Two independent Maxitel) was
impacts questioned by Federal Impacts:
consultants firms
Damage on image concluded that the rate Tax Bureau in 2011 Damage on image
Status: of dropped calls on Impacts: Status:
3/8/12 showed no
Ban lifted on 3rd of anomalies Damage on image No impact on financial
August Status: Accrual based on
Anatel is measuring the Under discussion at internal and
evolution of the plan. administrative level of independent external
tax bureau. opinion expert,
following IFRS rules.
There are precedents
Back to fundamentals
Customer Total Data Users Homes Passed
Base Traffic (unique) (households)
(users) (minutes)
Customer Total Data HP ready
Base Traffic Users to sell +17%
+28.3% +34% +2X
69.4 Mln 28.7 Bln 20 Mln 440k
Community FMS Internet for Tim Fiber
Sep11 Sep12 Sep11 Sep12 Sep11 Aug12 Sep11 Aug12
Expansion (Voice) everybody Fixed BB
10
11. Sales Growth Rebound
Gross Adds - Customer Base
(Weekly; ‘000 lines)
Back on track Gross adds come back
Prepaid resilient growth
Sales Ban Effect
Postpaid acceleration on
S14 S16 S18 S20 S22 S24 S26 S28 S30 S32 S34 S36 S38 S40 human lines (ex-M2M)
Trendline
Sales Force Focus on Efficiency Strong sales channel force
(Points of sale EoP) (R$; months)
SAC/
+12.6% 2.3
ARPU
Mass
QoQ
1.8 Efficient growth approach
~300k 55 1.7
Channel
36 34
+16.2%
QoQ SAC
Own
Stores 115 -34% -7%
3Q10 3Q11 3Q12
11
12. Operation Remains Solid
Customer Base Total Market Share Growth
(Million lines) (% of total lines)
+1.7 +0.5 D YoY
+3.1 D%
+4.9 3Q 30.1% 30.2% 30.1% 29.7%
+3.7 67.2 68.9 69.4 29.5% 29.5% 29.5% 29.5% 29.8% 29.6% 29.7% Vivo
+2.7 64.1
59.2 9.7 10.0 10.3 +1.6 +19% 640 290
55.5 9.3
52.8 8.7 bps
26.5% 26.8%
26.9% bps
7.7 8.0
Post 25.4% 25.3% 25.5% 25.4% 25.4% 25.5% 26.0% 26.8%
57.6 58.9 59.1 +8.6 +17%
50.6 54.8
Paid 45.1 47.5 25.1% 25.1% 25.6% 25.3%
24.9% 24.6% 24.6% Claro
24.5% 24.5%
24.0%
Largest 23.7%
Prepaid 20.4% 20.1%
Base 19.5% 19.4% 19.7%
19.1% 18.8% 18.8%
1st in yearly 18.5% 18.7% 18.7%
Oi
growth for 9
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 consecutive
Net Adds (000) quarters
Post Paid 223 317 632 655 348 348 261 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12
Pre Paid 1,598 2,359 3,053 4,219 2,786 1,308 274 Source: Anatel
Handset Sales Market Share Postpaid Base Analysis (ex-M2M)
(% of handset revenues 1H12) (Million lines)
-280k in 3Q12 (M2M D% YoY
disconnection effect)
10.4 10.3 10.4 10.5
10.2 +15%
Operators 7% Leading the handset market. 9.8 9.9 10.0
9.5 9.7
9.3 9.4
57% Total 9.1
26%
31% Even being the only player with “No 9.0 9.2 9.3 +22%
postpaid 8.6 8.9
43%
Subsidies” approach. base
Open Market
37%
Driving data usage growth Human
541k Net Adds in 3Q12
lines
postpaid
P1 TIM P3 P4
base May 12 Nov 12
Nov 11 Feb 11 Sep 12
Source: Company estimates Source: Anatel
12
13. Consumers Complains: Good position at Anatel and Procons
IDA – Index of Attendance (last reported by Anatel)
(Points)
98.55 99.15 99.40 100.00 99.90 98.65
98.10 97.40 97.90 97.70
96.95 96.75
95.20 95.05 94.50
93.70 94.00 98.00 94.00
93.95 97.00 96.70 TIM
91.05 95.30 95.10
90.85 90.30 93.80 89.85 91.00
92.65 87.90 92.80 88.10
91.35 86.35 86.55 86.65
88.80
88.30 89.35
87.20 86.40
85.80 86.20
84.80 85.00
83.90 83.30 84.85
74.84
77.25
jul/11 aug/11 sep/11 oct/11 nov/11 dec/11 jan/12 feb/12 mar/12 apr/12 may/12 jun/12 jul/12
Source: Anatel
Volume of claims at Consumer’s Protection Agency (Procon) Procon Demands
(# Quarterly claims) (% of total)
21,179
19,245 TIM
18,560
16,013 15%
13,696 24%
11,788 12,348
10,687 10,508 18%
9,664 9,592 9,344
8,601 8,811
8,740 7,693
7,591 8,229
7,112
7,376 TIM 43%
6,032 7,416
6,286 7,166 7,422
6,673 6,229 6,533
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12
Source: SINDEC data base. Represents 45% of total Procons (17/10/12) Source: SINDEC
P1 TIM P3 P4
13
14. Customer Sentiment
• Reinforcing position of
Preference and Rejection of customers transparency
Transparency • Offer w/ no Tricks
(%)
• Clear communication
Preference ∆ Pref x Rej
32 31
30 • Anatel plan on track
28 28 29 28 28
25
27
Player 1: 19 Quality • Network development
23 22
21 22 • Caring effectiveness
21
Rejection 14 Player 3: 2
Relevant • Unlimited
15 15 15 15 Player 4: -8 • Convenient
13
11 11 11 10 11 10
9 9 9 Innovation • Innovative
May Oct May Nov Jun Nov Jul Nov Jun Nov May Nov May Aug Source: Ipsos
06 06 07 07 08 08 09 09 10 10 11 11 12 12 Research
TIM Quality Portal
www.tim.com.br/qualidade
Anatel Plan Disclosure
Real coverage
Monitoring: footprint
• Network Improvement
New and planned
• Quality KPI’s antennas
• Network Incidents and Alerts Wi-Fi hotspots
14
15. Internet Continuous Take-Up: Handset + Offer
Products Net Revenues Smart/Web phone Penetration
(R$ Million) (% over total base of lines)
622 39.0%
+28% 35.2%
485 31.1%
26.6%
19.5%
15.4%
12.6%
VAS Gross Revenues
(R$ Billion; % of Gross Mobile Services Revenues)
3Q11 3Q12
% sales of 72%
71% 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12
web/smart 1.12
+35%
phones
0.83
SMS unique users growth Data users
(Daily unique users) (Million monthly unique users)
~20
+34%
3Q11 3Q12 ~15
+3X 15.7% 19.4%
+ 370 bps
3Q11 3Q12
3G
coverage
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 (% of urban 59% 69%
pop.)
15
16. Consistent EBITDA and Net Income Growth
EBITDA Evolution
(R$ Million)
16 mln of provision on advertising credit
+7.5% 26 mln of provision on Anatel administrative procedures
established between 2007/09
+45 +73 -155
+214 -89
1,244 -42 1,202
1,157
26.3%
26.5% EBITDA Margin 25.5%
32.0%
32.7% Service EBITDA Margin 31.0%
EBITDA Services Handset Marketing Network Pers./G&A Adj. EBITDA Non- Rep. EBITDA
3Q11 Revenues Margin and Sales and ITX and others 3Q12 recurring 3Q12
ΔYoY +5.5% -39.6% -7.2% +13.0% +21.9% +3.8%
From EBITDA to Net Income
(R$ Million)
1,202 16 + 26 = 42.1 mln – provisions
9.1 mln – monetary adjustments for the
administrative procedures
-657
545 -29
-198
369
318
EBITDA Depreciation/ EBIT Net Financial Taxes and Net Income Adj. Net
3Q12 Amortization Result Others 3Q12 Income 3Q12
ΔYoY +3.8% +1.9% +6.3% -52.9% +47% +0.4% +16.6%
16
19. Live TIM: Up & Running
MSANs Homes Passed
Ready to Sell
Optical Backbone 440k
Network 2
network 220k
Construction 1
3 2Q12 3Q12
Buildings authorized Building’s connected MSANs installed
5,700 7,101 2,100 3,026 214 405
2Q12 3Q12 2Q12 3Q12 2Q12 3Q12
Market Demand Quality of Service
(Units) (Mbps)
Download
Upload 35 37
20 21
Market Average 1.8 0.4
Demand and Speed
Quality of Market Live TIM Live TIM
Service Average (nominal) (delivered)
Blogger Richardmax: “Live Tim, so far, is the
only one to fulfill its promises, moreover above
Website the promises, because the 35Mb hired tests
120.5k
Registration are always above 37, and uploads are always
spiking 20. “
Specialist Blogger @ http://richardmax.rmax.com.br/
19
20. Live TIM: Speeding-Up with the New Offer
New Offer: Shaking the Broadband Market
Sales
(Average weekly sales)
After
Before Promo
Promo
~5X
Sep/12 Oct/12
Business Model Proving Itself
Coverage Capex
MSANs per Home Passed
Network Roll Out
~R$2k
(‘000 Households)
Optical Total Capex
Network ~R$80 ~590
per Sub Addressable
TIM ~R$5k Market
Int. Bench.*
Fiber (Homes passed)
~6X
Installation Capex ~R$700
per Sub >100
~R$800 TIM Int. Bench.*
Fiber
~R$300
May/12 Dec/12
TIM Int. Bench.*
*International Benchmarking
Fiber 20
22. The Mobile Operator which Invests the Most
Capex
(R$ Bln)
6
20.3% 19.6%
5.5 17.6% 17.3%
% Net Rev.
5
4.60
4.5
4
3.54 1.60
3.5
0.87
Acquisitions
3
2.5
2
1.5
2.67 2.83 3.00
2.37
Infrastructure Capex
Organic 1
2012-2014 (Anatel Plan):
0.5
0
2009 2010 2011 9M12
TIM: R$8.2 billion
Claro: R$6.3 billion
Focus on Infrastructure Vivo: R$6.2 billion
(% of Organic Capex)
Oi: R$5.5 billion
Commercial 6%
and Others 12% Total Capex: R$26.2
19%
33% billion
88% 94%
81%
Infrastructure 67%
2009 2010 2011 9M12
Source: Anatel and TIM 22
23. Mobile Operator with Robust Fixed Infrastructure
Backhaul Backbone
Wi-Fi na Rocinha
Metro Network (FTTS – focus on the Long Distance Network:
Confederation Cup and 2014 World
Cup):
2011 21,364 KM 2013 36,540 KM
Construction of 42 metropolitan rings
by YE2014 2012 27,973 KM 2014 41,308 KM
Wi-Fi Project: Wi-Fi em Paraisópolis
Optical Fiber at Amazonas, Pará
Airports; and Amapá, through the LT
Amazonas
Communities
Macapá
Stadiums Boa Vista Belém
M São Luis
Parks / Leisure Areas M
Fortaleza
M
M Tucuruí Natal
Manaus M M
Teresina João Pessoa
3G
M
M
Recife
4G MMaceió
P. Velho Petrolina
Palmas M
Rio Branco
M
Aracaju
2G Cuiabá M
Brasília
M
Salvador
M
Goiânia M
M
BHE
M
M
M
M M M Vitoria M
Campo Grande M Campos
Maringa M M
M
M
M M
M
Rio de Janeiro
M
São Paulo
M
M
M Curitiba
M
Metropolitan M
Florianópolis
M
Optical Ring M
Porto Alegre
23
27. Regulatory Update
PGMC
• Access to fixed operators networks: • MTR (VU-M) billing system:
Unbundling of copper networks (Backbone, Backhaul and Last Mile at Full billing between PMS* players (i.e. TIM, Claro, Oi and Vivo).
regulated prices (wholesale vs. retail prices cross check). Partial bill and keep between non-PMS players (Nextel, CTBC and
No unbundling of fiber networks: exclusive use of fiber networks Sercomtel) and PMS players was defined as follows:
(including dark fiber) for 9 consecutive years (Regulatory Grace Period). 2013/2014: 80/20
2015: 60/40
• Infrastructure sharing: 2016: Full Billing
Sharing of the passive infrastructure (duct, conduits and towers).
• MTR cut path:
• National Roaming: 2013: 9.5% (~R$ 0.33/min.)
Charged at the lowest tariff in the market for non-PMS players (Nextel, 2014: 25% (~R$ 0.25/min.)
CTBC and Sercomtel). 2015: 33% (~R$ 0.17/min.)
2016: Cost Model
4G QUALITY
• 2.5 GHz: • Improvement Plan:
Contract is signed, 10% paid in 4Q12, 90% to be paid in 2Q13 Focus on the improvement of customer care and network.
(License value: R$ 382 mln).
Suppliers are defined: Huawei, Nokia-Siemens and Ericsson. • Anatel quarterly assessment:
Based on follow-up monthly meetings
• Future of 700 MHz Auction :
Ongoing discussion among Anatel, mobile carriers and • Indication of the integrality of the new quality rules
broadcasters on digital dividend. New broadband indicators start to be informed of November/ 2012.
*PMS as Significant Market Power. A player which has the power to influence a specific market. 27
28. Historical Data: Financials (R$ Thousand)
Description 3Q10 3Q11 4Q11 1Q12 2Q12 3Q12 3Q12 %YoY
Net Revenues 3,676,781 4,371,388 4,710,566 4,468,319 4,547,332 4,722,425 8.0%
Net Revenues on Services 3,418,253 3,886,617 4,259,425 4,015,418 3,984,174 4,100,249 5.5%
Net Revenues on Products 258,528 484,771 451,141 452,900 563,158 622,176 28.3%
Operating Expenses (2,641,685) (3,213,950) (3,393,208) (3,299,651) (3,332,903) (3,520,489) 9.5%
Personnel expenses (139,797) (158,351) (164,652) (175,997) (186,441) (170,138) 7.4%
Selling & marketing expenses (935,324) (1,010,953) (1,079,699) (1,017,959) (922,302) (938,184) -7.2%
Network & interconnection (1,075,302) (1,197,827) (1,280,617) (1,298,885) (1,309,694) (1,353,194) 13.0%
General & administrative (122,653) (110,262) (133,745) (131,808) (126,310) (152,854) 38.6%
Cost Of Goods Sold (274,594) (597,708) (544,674) (533,460) (631,464) (690,398) 15.5%
Bad Debt (69,397) (60,825) (62,451) (56,640) (62,050) (80,009) 31.5%
Other operational revenues (expenses) (24,618) (78,024) (127,370) (84,902) (94,641) (135,713) 73.9%
EBITDA 1,035,096 1,157,438 1,317,358 1,168,652 1,214,403 1,201,936 3.8%
EBITDA Margin 28.2% 26.5% 28.0% 26.2% 26.7% 25.5% 96 Bps
Adjusted EBITDA 1,035,096 1,157,438 1,317,358 1,168,652 1,214,403 1,244,066 7.5%
Adjusted EBITDA Margin 28.2% 26.5% 28.0% 26.2% 26.7% 26.3% 99 Bps
Depreciation & amortization (755,545) (644,560) (641,920) (656,629) (664,233) (656,887) 1.9%
EBIT 279,551 512,878 675,438 512,024 550,171 545,048 6.3%
Net Financial Results (58,840) (61,450) (100,817) (42,178) (63,588) (28,930) -52.9%
Income before taxes 220,711 451,429 574,621 469,845 486,583 516,118 14.3%
Income tax and social contribution (74,188) (134,796) (173,463) (193,407) (139,796) (198,088) 47.0%
Net Income 146,523 316,632 401,158 276,439 346,787 318,030 0.4%
Adjusted Net Income 146,523 316,632 401,158 276,439 346,787 369,285 16.6%
Description 2010 2011 YTD 2012
Net Revenues 14,457,450 17,085,976 13,738,075
Net Revenues on Services 13,571,626 15,353,228 12,099,841
Net Revenues on Products 885,824 1,732,748 1,638,234
Operating Expenses (10,263,854) (12,427,669) (10,153,043)
Personnel expenses (586,722) (632,828) (532,576)
Selling & marketing expenses (3,483,164) (3,933,753) (2,878,445)
Network & interconnection (4,227,042) (4,722,261) (3,961,773)
General & administrative (484,609) (502,640) (410,972)
Cost Of Goods Sold (1,026,091) (2,062,552) (1,855,321)
Bad Debt (310,498) (231,529) (198,699)
Other operational revenues (expenses) (145,728) (342,105) (315,256)
EBITDA 4,193,596 4,657,881 3,584,992
EBITDA Margin 29.0% 27.3% 26.1%
Adjusted EBITDA 4,193,596 4,658,307 3,627,122
Adjusted EBITDA Margin 29.0% 27.3% 26.4%
Depreciation & amortization (2,993,461) (2,590,865) (1,977,749)
EBIT 1,200,135 2,067,442 1,607,243
Net Financial Results (245,457) (238,857) (134,696)
Income before taxes 954,678 1,828,584 1,472,547
Income tax and social contribution 1,257,038 (547,357) (531,290)
Net Income 2,211,716 1,281,228 941,257
Adjusted Net Income 776,716 1,281,228 992,512 28
29. Historical Data: Financials (US$ Thousand)
Description 3Q10 3Q11 4Q11 1Q12 2Q12 3Q12 3Q12 %YoY
Net Revenues 2,101,289 2,672,520 2,615,277 2,524,263 2,315,258 2,327,699 -12.9%
Net Revenues on Services 1,953,540 2,376,148 2,364,807 2,268,409 2,028,529 2,021,026 -14.9%
Net Revenues on Products 147,749 296,373 250,470 255,855 286,730 306,673 3.5%
Operating Expenses (1,509,729) (1,964,901) (1,883,888) (1,864,054) (1,696,936) (1,735,261) -11.7%
Personnel expenses (79,895) (96,811) (91,414) (99,425) (94,926) (83,862) -13.4%
Selling & marketing expenses (534,540) (618,063) (599,442) (575,070) (469,587) (462,434) -25.2%
Network & interconnection (614,538) (732,311) (710,991) (733,772) (666,826) (666,994) -8.9%
General & administrative (70,096) (67,411) (74,255) (74,462) (64,310) (75,342) 11.8%
Cost Of Goods Sold (156,931) (365,419) (302,399) (301,365) (321,508) (340,299) -6.9%
Bad Debt (39,661) (37,186) (34,672) (31,997) (31,593) (39,437) 6.1%
Other operational revenues (expenses) (14,069) (47,701) (70,715) (47,963) (48,186) (66,893) 40.2%
EBITDA 591,560 707,619 731,389 660,201 618,309 592,438 -16.3%
EBITDA Margin 28.2% 26.5% 28.0% 26.2% 26.7% 25.5% 96 Bps
Adjusted EBITDA 591,560 707,619 731,389 660,201 618,309 613,204 -13.3%
Adjusted EBITDA Margin 28.2% 26.5% 28.0% 26.2% 26.7% 26.3% 99 Bps
Depreciation & amortization (431,796) (394,062) (356,390) (370,946) (338,192) (323,782) -17.8%
EBIT 159,764 313,557 374,999 289,255 280,118 268,656 -14.3%
Net Financial Results (33,627) (37,568) (55,973) (23,828) (32,375) (14,260) -62.0%
Income before taxes 126,137 275,988 319,026 265,427 247,742 254,396 -7.8%
Income tax and social contribution (42,399) (82,410) (96,305) (109,260) (71,177) (97,638) 18.5%
Net Income 83,738 193,579 222,721 156,167 176,566 156,758 -19.0%
Adjusted Net Income 83,738 193,579 222,721 156,167 176,566 182,022 -6.0%
Description 2010 2011 YTD 2012
Net Revenues 8,231,230 10,201,868 7,167,221
Net Revenues on Services 7,724,407 9,163,550 6,317,964
Net Revenues on Products 506,823 1,038,317 849,257
Operating Expenses (5,842,070) (7,422,671) (5,296,251)
Personnel expenses (333,456) (378,222) (278,212)
Selling & marketing expenses (1,982,451) (2,348,218) (1,507,091)
Network & interconnection (2,404,499) (2,819,498) (2,067,592)
General & administrative (275,650) (300,371) (214,114)
Cost Of Goods Sold (587,945) (1,235,395) (963,172)
Bad Debt (175,766) (138,555) (103,026)
Other operational revenues (expenses) (82,302) (202,411) (163,043)
EBITDA 2,389,160 2,778,941 1,870,948
EBITDA Margin 29.0% 27.2% 26.1%
Adjusted EBITDA 2,389,160 2,778,941 1,891,714
Adjusted EBITDA Margin 29.0% 27.2% 26.4%
Depreciation & amortization (1,700,012) (1,549,236) (1,032,919)
EBIT 689,148 1,229,961 838,029
Net Financial Results (139,353) (140,652) (70,463)
Income before taxes 549,795 1,089,309 767,566
Income tax and social contribution 745,372 (325,734) (278,075)
Net Income 1,295,167 763,575 489,491
Adjusted Net Income 449,352 763,575 514,755 29
31. 2012-14 Drivers of Growth
CAGR 11-14
3 Ways of Growth Revenue Growth
R$ billion
17.1
Total 13.8 14.5
Double digit
Revenue growth
15.3 Fixed
12.8 13.6
0.8
0.6 0.7
Services
Revenues 12.2 12.9 14.5 Mobile
90 25% VAS
200 mou
mln lines Incidence
2009 2010 2011 2012 2013 2014
Community Expansion FMS (Voice) Internet for All
Mobile Customer Base FMS – Voice (MOU) Internet for All (Mobile Data)
Million of lines Minutes of usage per line Data as % of Service Revenue
250
~200 ~25%
200
90
129
116
150
14%
64 83 12%
100
Double digit 11% Double digit
51 Double digit growth growth
41 growth 50
Outgoing Voice Revenues Data Revenues
0
2009 2010 2011 2012 2013 2014
2009 2010 2011 2012 2013 2014 2009 2010 2011 2012 2013 2014
31
32. Network Continuous Evolution
Network roadmap 2G (TRX Installed) 3G roll out
000 TRX Pop %
2G Managing the growth
271 >80%
Speed up the toll out in
3G 157
HSPA mode 64%
WiFi >10,000 hot spots
2011 2014 2011 2014
FTTS Deployment in Top 42 cities
FTTS Fiber Network
FTTH ~1 Mln households by 2015
% of total traffic 000 km
Efficiency >50,000 km in fiber optic
50% 53.0
42 Cities 24.1
TIM Fiber
TIM Fiber: a “no Capex intensive” 14 Cities 28.9
approach to offer Residential Ultra BB in
2012 2014 2011 Swap + 2014
SP/RJ built out
32
33. Take-aways on main TIM Brasil trends
Revenues (New vs Old Plan)
R$ Billion
MTR glide path (-20% real term) as of feb’12
New impacts approx. 250 bp in Revenues and
EBITDA
Old
Revenues Growth resulting from further CB, voice MOU
17.1
and internet browsing
14.5 For 2012, revenues growth at >10% YoY (vs.
15.5 R$17.1Bln in 2011)
14.5
1yr in advance
Network synergies from AES Integration
2010 2011 2012 2013 2014
Continuous efficiency in Go2Market (no
subsidy, SAC/bad debt)
Ebitda Absorbing MTR cut and TIM Fiber start-up
Organic Capex For 2012, Ebitda growth at >10% YoY (vs.
R$4.6Bln in 2011)
% of Revenues; R$ billion
19.6
20 17.5
Expanding 2G capacity and 3G coverage
15
Accelerate FTTS in Top 42 Cities and Wi-fi
10 offloading
3.0 3.0 3.0 3.0 Capex Tim Fiber start-up
nds
2.8
CAPEX CAPEX flat at 3 bln/year; R$9bn in 3 Years
excluding 4G spectrum license (R$ 382.2 mln)
2010 2011 2012 2013 2014
33
34. Taxation Over Telecom in Brazil
Tax Composition
Telecom Tax Aliquots in Brazil
% of Gross Revenues % of Net Revenues
30%-40%
In 2011, TIM paid R$7.3 25%-35%
bln of taxes, fees and 1.5%
contributions (~43% of
total net revenues) LatAm Average
20%
Mexico
15%
0.65%
3% Nicaragua
Cofins PIS/ ICMS Fust/ Total 15% Venezuela
PASEP FUNTEL 14%
Colombia
20%
Tax Relief - 1º Step: M2M Fistel and Smartphones (MP 563/2012) Ecuador
27%
Tax reduction Reduction in the Increase of Peru Brazil
price to Penetration 19% 40%
consumer Bolivia
13%
Chile
Social 19%
Impacts
Argentina
Possibility of Better 25%
higher Quality
investment in
network Paraguay
10%
Economic
Impact
Source: UIT, Deloitte and Acel
34