0New York – December 3 rd 2009
TIM Participações S.A(Bovespa: TCSL4, TCSL3; NYSE: TSU)
Goldman Sachs Latin America & EMEA One-on-One Conference
1
TIM PARTICIPAÇÕES S.A. | Investor Relations
Re-Launch Plan Update
New Commercial Approach and Portfolio
Highlights on 3Q Results
Intelig Deal Update
Attachments - Market Facts and Historical Data
2
TIM PARTICIPAÇÕES S.A. | Investor Relations
Our Path in 2009
Customer Base and Market Share
2Q09
Launch of Infinity Plans (Pre and Post-paid)
Loyalty (Handset and Monthly Fee Discounts)
Push on Sales:
- Focused on Post-paid and MNP
- Network Rationalization
- New ways to encourage Usage
MOU
3Q09
Encourage Usage:
- Infinity (Pre and Post) and launched of “Blue” Concept (Local and LD)
- Quick-win of pre-paid clients
Push on Sales and CRM action
Clients migration to new plans (Pre)
Δ Post-paid Clients and SAC/ARPU
4Q09
Focusing on Post-paid:- Liberty- Infinity / ÚnicoGo-2-Market Model: Chip Only, as alternative to traditional modelAcceleration and Network Development: - 2G Capacity - 3G CoverageIntelig
Awareness and Quality
1Q09
Brand: new format and increasing Share of Investments
Network Quality:capacity, access, transportation (LD)
Costumers Satisfaction Recoveryin all Consumer Segments
KPIs
3
TIM PARTICIPAÇÕES S.A. | Investor Relations
Our Main Achievements
TIM reverses market share trend (net share of 27.3% in 3Q, after 29.1% in 2Q, vs. ~24% of market share)
Improving pre-paid customer base (Infinity Pre-paid: >11 million clients in 6 months)
End of post-paid base erosion, after 15 months (Infinity Post-paid and TIM Único)
Re-launch costs +R$ 0.5 Bln 9M YoYAdvertising, CRC, network quality and commissioning
Self-financing -R$ 0.7 Bln 9M YoYthrough Efficiency PlanInterconnection, Bad Debt and Personnel
ΔEBITDA +6.7% 9M YoYDespite -0.9% of revenues decrease
Brand: improve in Awareness and Top of Mind
Customer Satisfaction:
recovery quality level in all customer segments
Quality: confirmed #2 Anatel (with MOU +30% higher than 1Q09)
Subscriber’s base
Jul ‘08
7.41
Jan ’09
6.60
Jul ’09
7.47Overall
6.22 5.89 6.88Post-paid
Continuous improvement on KPIs QoQ
Sources: ABA (Associação Brasileira de Anunciantes)
Positioning(Brand and Quality)
Positioning(Brand and Quality) Subscriber Base GrowthSubscriber Base Growth Self-financingSelf-financing
4
TIM PARTICIPAÇÕES S.A. | Investor Relations
Brand: improving in Awareness and Top of Mind
Sources: Ibope Monitor, TIM Brasil - Pesquisa de imagem (Synovate – third-party survey institute) and weekly communication tracking* RJ and SP – last week of the month
Share of Investments
Share of Voice
2006 2007 2008 Jan-Aug ‘09
TV – GRP 15”+
2008 Jan-Aug ‘09
TIMPlayer 1
Player 2Player 3
Top of Mind
Oct-Nov07
May-Jun08
Oct-Nov08
Jun/09
•ABA: #1•Folha de SP: # 2
Awareness
May/09 Jun/09 Jul/09 Aug/09 Sep/09
30%32%
15% 16%
29%
24% 19%
17%
26%
31%
26%28% 28%
26%
15%
18%
5%
10%
15%
20%
25%
30%
35%
40%
21%
32%
25%
20%
29%
23%23%21%
41%
27%23%
31%
44%
30%
42%
53%
34%
29% 29%
20%
32% 33%33% 34%
33%
50%
22%
31%
31%29%
28%29%29%27%
30%
27%
22%22%21%20%
19%18%20%
22%
5
TIM PARTICIPAÇÕES S.A. | Investor Relations
Customer Satisfaction: quality level recovery in all customer segments
Customer Care SatisfactionCustomer satisfaction Index
Δ vs lastmeasure
Rankingoct/08 may/09
#1
#1
#1
#1
+0.44
+0.36
+0.72
+0.87
* Jul/09 and Aug/09Sources: TIM Brasil - 12nd Customer Satisfaction Monitoring - may-jun/09; CRC Monthly Satisfaction Research
CRC Average satisfaction, consumer segment
#3
#2
#4
#4
Client satisfaction recovery in all segments
From 0 (dissatisfied) to 10 (maximum satisfaction)
Pre-paid
Post-paid
8.43
8.50
8.06
7.96
Overall
Pre
Post
PostHigh
-0,5
+0,7
+0,5
7.57.4
7.07.1
7.5
6,7
6,9
7,1
7,3
7,5
7,7
7,9
3Q08 4Q08 1Q09 2Q09 3Q09*
6.76.6
6.3
6.06.1
5,7
5,9
6,1
6,3
6,5
6,7
6,9
7,1
3Q08 4Q08 1Q09 2Q09 3Q09*
6
TIM PARTICIPAÇÕES S.A. | Investor Relations
90.7%
97.3%
87.6%
94.0%96.4%
82,00%
84,00%
86,00%
88,00%
90,00%
92,00%
94,00%
96,00%
98,00%
100,00%
4Q08 1H09 jul/09 aug/09 sep/09
Quality: Improvement of Customer Care and NetworkOverall Service Quality – YTD’ 2009 Overall Service Quality – Sept’ 2009
# 2
Network Service Quality (*)
Jan/09 Set/09 Delta (p.p.)
TIM 84.1% 97.3% +13.2
Player 1 100.0% 99.1% -0.9
Player 2 95.7% 96.5% +0.8
Player 3 53.8% 50.0% -3.8
MainMobileOperators
Fonte: Anatel(*) SMP Anatel 3, 5, 6, 7 and 12
86MOU 71 90
-0.2 +5.2 -0.9-7.8-5.1-1.2+2.1
% target achieved in overall service quality, TIM vs. competitors % target achieved in overall service quality, TIM vs. competitors
% target achieved in network quality , TIM vs. competitors % target achieved in TIM network quality
∆ppYTD 09vs. FY08
99.3%96.8% 95.5% 93.9% 92.6%
83.0%
90.2%
Player 1 TIM Player 6 Player 5 Player 4 Player 2 Player 3
99.2% 97.7% 95.5%90.9%
85.5% 81.8%
65.9%
Player 1 TIM Player 6 Player 4 Player 2 Player 5 Player 3
7
TIM PARTICIPAÇÕES S.A. | Investor Relations
Net Additions
-17.2% 34.9% 27.5%
Pre-paidPost-paid
Net Adds YoY Growth (%)
(000’s lines)
(1) (250) (397)
42 87
1,393 1,446
91
1,687 1,687
3Q08 4Q08 1Q09 2Q09 3Q09
1,7741,7291,392
(306)
1,196
N/A-42.9%
..Invert the trend
After four quarters of market share erosion…
… TIM confirmed trend reversal
Net Share (%)
MarketShare (%)
27.3%
23.7% 23.8%
29.1%
17.4% 18.3%
26.5%
12.1%-10.1%
25.9%
25.0%25.4%24.2% 23.5%
3Q08 4Q08 1Q09 2Q09 3Q092Q08
Subscriber Base Growth: Reverting negative trends
1Q08
Returning to increase in post-paid… …and market share
8
TIM PARTICIPAÇÕES S.A. | Investor Relations
Self-financing the Re-launch plan…
Interconnection
Bad Debt
G&A
EBITDA
+0.5
-0.7
8.9 8.8
0
-0.08
+0.59
+0.13
Set-09 YTD vs. YA
-0.9%
+10.0%
+6.7%
-0.9%
3.8 3.1
3.1 3.6
+6.7%
Bln R$
ServiceRevenues
ServiceMargin*
EBITDA
More quality in:•Traffic
(on-net)•Clients•Organization
• Brand Re-shaping
• Recovery Customer Base
• Improve in Margin despite of Revenues decrease
Net Service Revenues
Commercial Expenses
(Fixed and Variable)
Network
1.97 2.10
Sep´-08 YTD Sep´-09 YTD
9
TIM PARTICIPAÇÕES S.A. | Investor Relations
Re-Launch Plan Update
New Commercial Approach and Portfolio
Highlights on 3Q Results
Intelig Deal Update
Attachments - Market Facts and Historical Data
10
TIM PARTICIPAÇÕES S.A. | Investor Relations
Handset Revenue
SAC / ARPU
Innovative Commercial Approach
Segmented Offers Chip only (for all post-paid plans) Unique and distinctive
• Complete portfolio of plans with
segmented approach
• New Plans based on Community
concept (more than 40 million
clients nationwide)
• Community Free National
Roaming
• Exclusivity in devices (e.g.: Windows
Phone)
• Outsourcing of VAS platforms
multiplatform applications store:
music, games, adult (ex: Qualcomm)
• Presence of TIM in applications
store of main suppliers (e.g.:
“Brasileirão 2009” in Apple Store)
Subscriber Base and UsageMicrobrowsing
Infinity Pre Infinity Post Liberty
• Win-Win-Win:
- TIM: SAC/Bad Debt reduction,
competitive differentiation in
service vs. handset
- Sales: one more option for sales
- Client: flexibility
. Handset Benefit or
. Service Benefit
PlansPlans Business ModelBusiness Model Handsets and VASHandsets and VAS
11
TIM PARTICIPAÇÕES S.A. | Investor Relations
Unlimited communication (local and on-net LD)
Community of more than 40 million users
Minutes bundle and SMS to other carriers
Free national Roaming unlimited
TIM Liberty
Single bill and unlimited calls for on-net
Free unlimited calls among Family members
Bundle with TIM Fixo – Free ‘to home’ calls
Infinity Family
Infinity Benefit (pay per call concept for on-net)
Expenses control (no surprises at the end of the
month).
Infinity Controle
Highlights on Post-paid plans
SuperHigh
Pre
Controle
Low
Mid
High
Da Vinci
All-inclusive Offer (unlimited calls for all directions)
Customized Customer Care (premium channel)
Exclusive handset offer with 1 free device per year
12
TIM PARTICIPAÇÕES S.A. | Investor Relations
Increasing LD market share of traffic
(+ 10pp)
~60% of Gross Adds are new Business clients
>11 million clients
Infinity Pós
+40% Post-paid Gross Adds (Voice) Consumer 3Q YoY
9070
1Q09 3Q09
MOU
Leveraging onTIM Community
~40 million clients(Local and DDD)
1Q09 3Q09
% MOU on-net
+8 pp
+30%
Infinity Pré
TIM Único
Mundo Azul
Competitive advantage of
TIM’s offer
New Offers: Fast market reaction
13
TIM PARTICIPAÇÕES S.A. | Investor Relations
Re-Launch Plan Update
New Commercial Approach and Portfolio
Highlights on 3Q Results
Intelig Deal Update
Attachments - Market Facts and Historical Data
14
TIM PARTICIPAÇÕES S.A. | Investor Relations
Company's repositioning: leveraging growth and usage
Mln Lines
Dec-08 Sep-09 Jan-08 Mar-09 Sep-09Dec-08
Mln Lines
+3.4
Jan-08 Mar-09
+0.1-0.6End of post-
paid base erosion, after
15 months
29.9
33.3
29.8
25.2 6.26.3
6.8
Min/month, R$/month, 2009
MOU
ARPU reported
ARPU adjusted*
26.0 26.0
26.226.8 26.5
70 73
90
26.6
1Q 2Q 3Q
Infinity supporting
pre-paid growth
*adjusted by fines revenue reclassification
Pre-paid base growth Post-paid base growth
MOU and ARPU Evolution
New offers leveraging usage and
on-net focus
15
TIM PARTICIPAÇÕES S.A. | Investor Relations
R$ Million % Margin
Improving Revenues and EBITDA
R$ Mln
403 483 496Gross VAS Rev.
9.5% 12.3% 12.0%% VAS/ Service Rev.
ΔY/Y ΔQ/Q
ΔY/Y ΔQ/Q
3,0832,9363,115 2,823
3Q08 1Q09 2Q09 3Q09
430
11.2%
//HandsetRevenues
Total NetRevenues
292 189 368 254
3,407 3,012 3,304 3,337
ServiceRevenues
-2.0%
-1.0%
-13.0%
+1.0%
+5.0%
-30.9%
+23.0% +2.5%
+2.5pp -0.3pp
EBITDA and Margin
1Q09 2Q09 3Q09
20.2%22.3% 22.7%
609736 759
EBITDA Margin
EBITDA
17,9% 20,0% 23,4%2008EBITDA %
1,968 2,104
20.5%21.8%
9M’099M’08
Less Commercial Efforts 2H08
Revenues
16
TIM PARTICIPAÇÕES S.A. | Investor Relations
R$ Mln…with consistent savings through Efficiency Plan
1Q 2Q 3Q1Q 2Q 3Q
Bad Debt Personnel and G&A CostsInterconnection & Network
R$ MlnR$ Mln
1Q 2Q 3Q
R$ Mln
1Q 2Q 3Q
Strengthening commercial efforts to re-launch the brand…
Efficiency Plan: financing our growth
+22.1%+24.6%+18.6%
-30.5%-47.9%-50.5%-10.5%-14.1%-5.7% -3.3%-9.0%-8.7%
YoY%
YoY% YoY% YoY%
985 921 964
1,045 1,073 1,077
134106 100
272203
143
261 252 246
286 277 254YTD: -10%
YTD: -45%YTD: -7%
709829 873
598 666 715
YTD: +22%
20092008
4.6%*
3.2%*3.6%*4.8%*
* % Net Service Revenue
Selling Expenses
17
TIM PARTICIPAÇÕES S.A. | Investor Relations
EBITDA 3Q YoY Evolution
22.7%23.4%Margin %
1 - Outgoing + VAS + LD +Others – Interconnection & Network Costs2 - Other Expenses include: G&A, Personnel and Net Other Operating Expenses/Revenues
R$ Mln
798.5
192.5 (111.2)
4.843.7
(11.2)
758.8
Bad Debt OtherExpenses2
HandsetContribution
BusinessReceived
(Incoming)
BusinessGenerated(Out+VAS)1
3Q08 3Q09
Service Contribution
(158.3)
Advertising & Sales
R$ 80 Mln (+4% YoY)
+19% YoY
-11% YoY
Larger on-net Community
Chip-only approach
Higher commercial
push vs. 2H08
18
TIM PARTICIPAÇÕES S.A. | Investor Relations
EBITDA 3Q09
Depreciation & Amortization EBIT Net Financial
ExpensesTaxes and
OthersNet
Result
Net Result: Back to ProfitR$ Mln
3Q08 (618.0) 180.5 (152.9) (39.6)
758.8(663.7)
95.1 (61.9) 27.660.8
798.5 (12.1)
-5.0% +7.4% -59.5% N/A N/AYoY % -47.3%
1Q09 2Q09 3Q09
61
(15)(144)
•Lower Interest Rates•3G NPV Impact•Tax Benefit (REFIS)
•Tax Reversion Provisioning•Tax Benefit (REFIS)
19
TIM PARTICIPAÇÕES S.A. | Investor Relations
Gross DebtR$ 3.50 billion (of which 60% long term)~33% of total debt is denominated in foreign currency (fully hedged)
Average annual cost 9.74% in 3Q09 vs.12.54% in 3Q08 (and 10.95% in 2Q09)
Operating Free Cash Flow & Net Financial Position – 3Q09
R$ Million
Net Financial PositionR$ Million
Operating Free Cash Flow
Operating FCF
R$ Million
EBITDA ΔWork. Cap.
CAPEX Operating FCF
3Q092Q09 NonOp. FCF
(2,900)
(35)392
(2,544)
759
169
(536)
392
12% 12%
2Q09 3Q09
Capex / Sales
13%16%
2Q09 3Q09OpFCF /
Sales
R$ 356 Mln of debt reduction
20
TIM PARTICIPAÇÕES S.A. | Investor Relations
Re-Launch Plan Update
New Commercial Approach and Portfolio
Highlights on 3Q Results
Intelig Deal Update
Attachments - Market Facts and Historical Data
21
TIM PARTICIPAÇÕES S.A. | Investor Relations
Intelig Deal Update (1/3)
AprApr MayMay JunJun JulJul AugAug SeptSept OctOct NovNov DecDec
(Aug 8th) Anatel’s approval(Aug 8(Aug 8thth) ) AnatelAnatel’’ss approvalapproval
(Nov 27th) BoD Meeting - new conditions to the Merger Agreement
(Nov 27(Nov 27thth) ) BoDBoD Meeting Meeting -- new conditions to new conditions to the Merger Agreementthe Merger Agreement
(Apr 16th) BoD Meeting - signing of the Merger Agreement
(Apr 16(Apr 16thth) ) BoDBoD Meeting Meeting -- signing of signing of the Merger Agreementthe Merger Agreement
Deal to be concluded until the year-end
Deal to be concluded Deal to be concluded until the yearuntil the year--endend
Deal Time-frameDeal Time-frame
New Conditions to the Merger Agreement1New Conditions to the Merger Agreement1
1
3
2
Transaction value remained the same as of April 16th
New payment conditions:
Assumption of residual debt from Intelig of ~US$ 70 million2
(previously zero debt from Intelig)
Reduction of share swap range, now up to 5.14% for TIM shares
(previously up to 6.15%)Deal expected to be concluded by the end of 2009
1 according to material fact notice2 final value amount to be concluded following the Valuation report analysis – by the closing balance sheet of November 30th
22
TIM PARTICIPAÇÕES S.A. | Investor Relations
Original Deal (April 16th) Deal Update (November 27th)
TIM Brasil Serv. e Part. S.A.
T : 65.56%ON: 76.32%PN: 60.01%
100%
100% 100%
TIM Cel. S.A.
TIM Nord. S.A.
JVCO Free Float
T : 6.15%ON: 6.15%PN: 6.15%
T : 28.29%ON: 17.53%PN: 33.84%
TIM Brasil Serv. e Part. S.A.
T : 66.27%ON: 77.14%PN: 60.65%
100%
100% 100%
TIM Cel. S.A.
TIM Nord. S.A.
JVCO
T : 5.14%ON: 5.14%PN: 5.14%
T : 28.59%ON: 17.72%PN: 34.21%
Intelig Deal Update (2/3)
Free Float
Ownership StructureOwnership Structure
23
TIM PARTICIPAÇÕES S.A. | Investor Relations
Network Footprint
Central
Rede em Fibra Óptica
Estação satelital terrestre Central ATM/IP
Cabo submarino
MANPOP
Central
Rede em Fibra Óptica
Estação satelital terrestre Central ATM/IP
Cabo submarino
MANPOP
Rio Branco
Manaus
Goiás
Campo Grande
Florianópolis
São Paulo
Belo HorizonteVitória
Goiânia
MacapáBoa Vista
Porto Velho
Salvador
Uruguaiana
Joinville
Rib. PretoCampinas
JuizFora
Atlantis 2(Argentina)
Atlantis 2 (Europa)
Globnet (New York e Miami)Américas II (Florida)
Curitiba
Aracaju
Maceió
Recife
Fortaleza
Belém
Uberlândia
BrasíliaDF
JundiaíRio de Janeiro
PortoAlegre
Barueri
Rio Branco
Manaus
Goiás
Campo Grande
Florianópolis
São Paulo
Belo HorizonteVitória
Goiânia
MacapáBoa Vista
Porto Velho
Salvador
Uruguaiana
Joinville
Rib. PretoCampinas
JuizFora
Atlantis 2(Argentina)
Atlantis 2 (Europa)
Globnet (New York e Miami)Américas II (Florida)
Curitiba
Aracaju
Maceió
Recife
Fortaleza
Belém
Uberlândia
BrasíliaDF
JundiaíRio de Janeiro
PortoAlegre
Barueri
% of net revenue
Brief Description
Established in 1999 during the privatization process, being an alternative player (“mirror company”) to compete with incumbent operators
~ 500 employees
Since Jan/08, owned by Docas Investimento(Brazilian Media and Publishing Group)
National and international LD (Code 23)
Voice, data and images transmission nationwide. In 2003, launched a local fixed telecommunication service
Backbone: 14.500 km of fiber optic cables
Fiber optic cables length: ~500.000 km
Metropolitan Network: 18 capitals
Network Asset
Corporate – 100k clients
- LD (national and international)- Data solution for business segment
Wholesale - Data transmission (leased lines)
Retail - Local service (~260k lines)
- ISP (Internet service provider)- LD (national and international)
Business line
~50%
~35%
~15%
Intelig Deal Update (3/3)
24
TIM PARTICIPAÇÕES S.A. | Investor Relations
Re-Launch Plan Update
New Commercial Approach and Portfolio
Highlights on 3Q Results
Intelig Deal Update
Attachments - Market Facts and Historical Data
25
TIM PARTICIPAÇÕES S.A. | Investor Relations
TIM Part. Total Control Free Float
Common 799,924,805 650,537,118 149,387,687
Preferred 1,548,522,231 990,098,811 558,423,420
Total 2,348,447,036 1,640,635,929 707,811,107
34%
66%
40%
60%
21%
79%
100% 100%
(%) (%) (%)
100%
*Nov, 2009
*All Market Panel data refer to Nov 26th, 2009.*All Market Panel data refer to Nov 26th, 2009.
TIM ParticipaçõesTIM Participações
TIM CelularTIM Celular
TIM NordesteTIM Nordeste
100%
TIM Brasil
100%
ON: 81%PN: 64%Total: 70%
100%
Telecom Italia
Stock Exchange: : BOVESPA
Ticker Symbol: TCSL4 (Preferred)
Price: R$ 4,55
52 Week Price Range:
High – R$ 4.99
Low – R$ 2.64
Stock Exchange: : BOVESPA
Ticker Symbol: TCSL4 (Preferred)
Price: R$ 4,55
52 Week Price Range:
High – R$ 4.99
Low – R$ 2.64
Stock Exchange: : BOVESPA
Ticker Symbol: TCSL3 (Common)
Price: R$ 6,05
52 Week Price Range:
High – R$ 7.95
Low – R$ 4.91
Stock Exchange: : BOVESPA
Ticker Symbol: TCSL3 (Common)
Price: R$ 6,05
52 Week Price Range:
High – R$ 7.95
Low – R$ 4.91
Market Panel*Market Panel*Market Panel*
Stock Exchange: : NYSE
Ticker Symbol: TSU (ADR)
Price: US$ 26,64
52 Week Price Range:
High – US$ 29.04
Low – US$ 11.99
Stock Exchange: : NYSE
Ticker Symbol: TSU (ADR)
Price: US$ 26,64
52 Week Price Range:
High – US$ 29.04
Low – US$ 11.99
Market Capitalization: R$ 11.89 BillionMarket Capitalization: R$ 11.89 Billion Market Capitalization: US$ 6,80 BillionMarket Capitalization: US$ 6,80 Billion
TCLS4 TCSL3 IBOV
Market Facts
Shareholders StructureStock Performance
Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09
(40)
(20)
-
20
40
60
80
100
26
TIM PARTICIPAÇÕES S.A. | Investor Relations
Historical indicators: operational results
QoQ YoY% %
3Q09 2Q09 3Q08
Brazilian Wireless Subscriber Base (million) 166.1 159.6 140.8 4.1% 18.0%Estimated Total Penetration 86.7% 83.5% 73.3% 3.2 p.p. 13.4 p.p.Municipalities Served - TIM GSM 2,958 2,944 2,765 0.5% 7.0%
Market Share 23.8% 23.7% 25.0% 0.1 p.p. -1.2 p.p.Total Lines ('000) 39,600 37,826 35,206 4.7% 12.5%
Prepaid 33,297 31,610 28,386 5.3% 17.3%Postpaid 6,303 6,216 6,820 1.4% -7.6%
Gross Additions ('000) 5,930 4,855 4,573 22.1% 29.7%Net Additions ('000) 1,774 1,729 1,392 2.6% 27.5%Churn 10.9% 8.6% 9.4% 2.3 p.p 1.5 p.pARPU (R$) 26.5 26.6 30.1 -0.2% -12.0%MOU 90 73 101 23.2% -10.7%ARPM (R$) 0.29 0.36 0.30 -19.0% -1.5%SAC (R$) 113 120 110 -6.2% 2.1%Investment (R$ million) 535.9 422.5 510.7 26.8% 4.9%Employees 9,351 10,174 10,173 -8.1% -8.1%
Numbers are according to previously published earnings release, and therefore, may differ from the subsequent publishing due to rounding and re-classification.
27
TIM PARTICIPAÇÕES S.A. | Investor Relations
Thousands R$
Numbers are according to previously published earnings release, and therefore, may differ from the subsequent publishing due to rounding and re-classification.
3Q08 2Q09 3Q09 QoQ % YoY %
Net Revenues 3.406.923 3.304.252 3.337.481 1,0% -2,0%Services 3.114.872 2.936.240 3.083.348 5,0% -1,0%
Handset Revenue 292.051 368.012 254.133 -30,9% -13,0%
Operating Expenses (2.608.467) (2.568.235) (2.578.700) 0,4% -1,1%Personal Expenses (152.654) (138.181) (144.695) 4,7% -5,2%
Selling and Marketing Expenses (715.019) (829.036) (873.341) 5,3% 22,1%
Network & Interconnection (1.077.171) (920.902) (964.315) 4,7% -10,5%
General & Administrative (101.496) (113.542) (100.954) -11,1% -0,5%
Cost of Goods Sold (378.072) (466.727) (335.308) -28,2% -11,3%
Bad Debt (143.250) (105.949) (99.552) -6,0% -30,5%
Other operational revenues (expenses) (40.804) 6.102 (60.534) - 48,4%
EBITDA 798.456 736.016 758.781 3,1% -5,0%
EBITDA - Margin over total net revenues 23,4% 22,3% 22,7% 0,5 p.p. -0,7 p.p.
Depreciation & Amortization (617.988) (647.451) (663.684) 2,5% 7,4%
EBIT 180.468 88.565 95.097 7,4% -47,3%
Net Financial Results (152.943) (65.857) (61.865) -6,1% -59,5%
Income (loss) before taxes and Minorities 27.526 22.708 33.232 46,3% 20,7%
Income tax and social contribution (39.579) (37.956) 27.579 - -
Net Income (Loss) (12.053) (15.247) 60.811 - -
Historical indicators: financial results
28
TIM PARTICIPAÇÕES S.A. | Investor Relations
Statements in this presentation, as well as oral statements made by the management of TIM Participações S.A. (the “Company”, or “TIM”), that are not historical fact constitute “forward looking statements” that involve factors that could cause the actual results of the Company to differ materially from historical results or from any results expressed or implied by such forward looking statements. The Company cautions users of this presentation not to place undue reliance on forward looking statements, which may be based on assumptions and anticipated events that do not materialize.
Statements in this presentation, as well as oral statements made by the management of TIM Participações S.A. (the “Company”, or “TIM”), that are not historical fact constitute “forward looking statements” that involve factors that could cause the actual results of the Company to differ materially from historical results or from any results expressed or implied by such forward looking statements. The Company cautions users of this presentation not to place undue reliance on forward looking statements, which may be based on assumptions and anticipated events that do not materialize.
Investor Relations
Avenida das Américas, 3434 - Bloco 016° andar – Barra da Tijuca22640-102 Rio de Janeiro, RJPhone: +55 21 4009-3742 / 4009-3446 / 4009-4017Fax: +55 21 4009-3990
Investor Relations
Avenida das Américas, 3434 - Bloco 016° andar – Barra da Tijuca22640-102 Rio de Janeiro, RJPhone: +55 21 4009-3742 / 4009-3446 / 4009-4017Fax: +55 21 4009-3990
Visit our Website
http://www.tim.com.br/ir
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