August 2020 in TIM: invariable double digit sales growth dynamics

Early estimates suggest that in August 2020 net revenues of TIM SA from the sales of goods and services directly related to the sale of goods amounted to PLN 70.7 million, i.e. by 11.3% more than in August 2019. Online sales brought over PLN 50.9 million, which means an increase by 14.6% year-on-year.

After eight months of 2020 the estimated turnover of TIM SA amounted to almost PLN 591.2 million (+14.6% y/y) and revenues from the e-commerce channel PLN 419.5 million (+15.8% y/y).

– August was the peak of the holiday season this year and the holiday which fell on Saturday, August 15, de facto created a long weekend affecting the level of turnover. Our sales model with the dominant share of online sales is, however, resistant to long weekends and holiday seasons, which is confirmed by higher dynamics of growth in turnover in the e-commerce channel than in the total revenues from sales (14.6% vs 11.3%) – notes Krzysztof Folta, the President of the Management Board of TIM SA. – As you can see, in August we consistently continued the initiated in February double digit sales growth dynamics. After the best July in TIM’s history we have an appetite for new records and we are intensively preparing for the autumn peak of purchases in the electrotechnical industry – adds Krzysztof Folta.