July 2022 at TIM SA: sales per working day +5.2% YY (Year-on-Year), an economic downturn on the horizon

Preliminary estimates indicate that, in July 2022, TIM SA’s net monthly revenue (generated by sales of goods and services directly related to sales) came up to PLN 106.4 million (+0.4% YY).

Revenues per working day in July 2022 were 5.2% higher compared to the analogous period in 2021 (PLN 5.07 million vs 4.82 million), since this year’s July consisted of 21 working days, as opposed to 22 in 2021.

July 2022 revenues generated by online sales conducted directly by the customers came up to almost PLN 75.9 million (-2.5% YY). However, revenues per working day have actually increased by 2.3% (from PLN 3.53 million to 3.61 million). After the first seven months of 2022, total revenues generated by sales are higher by almost 1/4 (or 24.3%) compared to the analogous period in 2021 (PLN 845.6 million vs 680.4 million). By the same token, revenues from online sales conducted directly by the customers have increased by 22.2% (PLN 588.3 million vs 481.4 million).

‘When comparing this year’s July and its 2021 equivalent, we have to bear in mind the difference in working days which carries considerable weight in case of B2B e-commerce. Either way, economic downturn is quickly becoming a fact’, Krzysztof Folta (TIM SA Management Board President) stated. ‘The symptoms were already clear in June, as we’d noticed single-digit YY growth in our total revenue estimates. This happened for the first time since January 2021. Economic cycles are natural, so we’re bound to bounce back sooner or later. However, we refuse to just passively wait for that happy moment. We always strive to see economic twists and turns in terms of opportunities. When others dig in, we keep pushing forward. I am certain the long-term corporate development strategy we unveiled in May will allow the company to make good use of this bearish time’, Krzysztof Folta added.