TIM S.A. (NYSE:TIMB) Q1 2023 Earnings Conference Call May 9, 2023 9:00 AM ET

Company Participants

Alberto Griselli - Chief Executive Officer

Andrea Viegas - Chief Financial Officer

Vicente Ferreira - Head, Investor Relations

Leonardo Capdeville - Chief Technology Officer

Conference Call Participants

Marcelo Santos - JPMorgan

Marco Nardini - XP

Lucas Chaves - UBS

Lucca Brendim - Bank of America

Daniel Federle - Credit Suisse

Felipe Cheng - Santander

Carl Sequeira - BTG Pactual

Operator

Good morning, ladies and gentlemen. Welcome to TIM S.A. 2023 First Quarter Results Conference Call. We'd like to inform you that this event is being recorded and all participants will be in listen-only mode during the company's presentation. There will be a replay for this call on the company's Web site. After TIM S.A. remarks are completed, there will be a question-and-answer session for participants. At that time, further instructions will be given.

We highlight that statements that may be made regarding the prospects, projections and goals of TIM S.A. constitute the beliefs and assumptions of the company's board of executive officers. Future considerations are not performance to warranties. They involve risks, uncertainties and assumptions as they refer to the events that may or may not occur. Investors should understand that internal and external factors to TIM S.A. may affect their performance and lead to different results than those planned. Should any participant need assistance during this call, please press star zero to reach the operator.

Now, I'll turn the conference over to the CEO, Mr. Alberto Griselli, CEO of TIM S.A.; and to Ms. Andrea Viegas, Chief Financial Officer, to present the main messages for the first quarter of 2023. Please, Mr. Alberto, you may proceed.

Alberto Griselli

Good morning, and thanks for attending our results conference call. I'm pleased to welcome here today, Andrea Viegas, our Chief Financial Officer, who was recently promoted to this position from within our ranks. Her extensive knowledge of team and the industry will be a great asset to our C-suite. And in her debut as CFO, we are presenting a set of some numbers to the market.

This first quarter was again a reaffirmation of the new moment of the company with outstanding achievements due to the sharp execution of our strategic plan. We have completed 100% of the M&A integration process while overcoming many obstacles related to macroeconomic deterioration and dealing with the uncertainties of a noisy political environment. Our top line rose more than 20% year-over-year with EBITDA growing 23%. This combination led to a margin expansion and operating free cash flow to double versus the first quarter of 2022.