March 11, 2020 / 10:41 AM / a month ago

Brazil's TIM raises forecasts 2020-2022 after achieving goals

SAO PAULO, March 11 (Reuters) - Brazilian wireless carrier TIM Participacoes SA has disclosed new forecasts for 2020-2022 after achieving most of its goals under its 2019-2021 strategic plan.

In a securities filing late on Tuesday, the company said it now expects its EBITDA margin to surpass 40% in 2022 compared with 39.1% reported in 2019 as part of cost-cutting efforts.

It also expects a mid-single digit growth in 2022 service revenue. (Reporting by Gabriela Mello; editing by Jason Neely)

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