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Luis Chagas

Research Analyst at Banco BTG Pactual S.A.

Luis Chagas is an Equity Research professional with experience at XP, focusing on in-depth company and sector analysis, and formerly held the role of Investment Equity Professional & Analyst at Bogari Capital. His coverage has included Brazilian equities, with research recognized for actionable insights across financial and consumer-focused companies, although precise performance metrics or analyst rankings are not publicly available. Chagas began his analyst career at Bogari Capital before moving to XP, developing expertise in equity valuation and sector-specific trends, but there is no public record indicating that he is currently at BTG Pactual or covering companies for that firm. Information about professional credentials, securities licenses, or FINRA registration could not be confirmed from available data.

Luis Chagas's questions to TIM (TIMB) leadership

Question · Q2 2025

Luis Chagas from BTG Pactual inquired about the drivers for increased network and interconnection costs and asked for management's view on competitive pressures from new entrants in specific regions like the Northeast.

Answer

CFO Andrea Palma Marques attributed the higher network costs to increased international roaming usage and provider costs for bundled streaming services, noting these are tied to revenue growth with positive margins. CEO Alberto Griselli described the overall market as rational. He acknowledged regional competitors are aggressive on price but stated TIMB is focusing on service quality rather than price-matching, viewing the current threat as limited.

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