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UPDATE 1-TIM Brasil Q4 profit rises 16.3 pct, EBITDA surprises
February 6, 2013 / 1:40 AM / 5 years ago

UPDATE 1-TIM Brasil Q4 profit rises 16.3 pct, EBITDA surprises

* Net income in quarter was $233.2 million

* Net sales rose 6.7 percent to 5.03 bln reais

* EBITDA was steady at 28 pct of net sales (Adds additional results, share price.)

RIO DE JANEIRO, Feb 5 (Reuters) - TIM Participações SA , Brazil’s second-largest wireless phone company, said on Tuesday that fourth-quarter net profit rose 16.3 percent compared with a year earlier as sales of services and products rose and financial costs fell.

The Brazilian unit of Telecom Italia SpA said in a securities filing that fourth-quarter net profit rose to 462.6 million reais ($233.2 million) from 397.8 million reais a year earlier, narrowly missing the average estimate of 476 million reais in a Reuters survey of seven analysts.

Net sales, or sales minus sales taxes, rose 6.7 percent to 5.03 billion reais in the three months ending Dec. 31 compared with the year-earlier period, the smallest increase in nearly two years, though it was in line with expectations.

Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 8.2 percent to 1.43 billion reais, beating the average analyst expectation of 1.37 billion reais expected in the Reuters survey.

EBITDA is a measure of a company’s ability to generate cash and profit from operations.

The ratio of EBITDA to net sales remained steady at 28 percent.

TIM Participacoes shares rose 0.23 percent to 8.75 reais in Sao Paulo on Tuesday before the results were announced.

$1 = 1.9841 Brazilian reais Reporting by Jeb Blount and Sergio Spagnuolo and Brad Haynes in Sao Paulo.; Writing by Jeb Blount; Editing by Gary Hill and Chris Gallagher

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