SÃO PAULO, May 7, 2024 /PRNewswire/ -- Telefônica Brasil - (B3: VIVT3; NYSE: VIV), announces its results for 1Q24:
1Q24 Results: Telefônica Brasil S.A.
Strong operating performance leading to above-inflation growth in revenues, EBITDA and net income
R$ million
|
1Q24
|
1Q23
|
% Y-o-Y
|
|
|
|
|
Net Operating Revenue
|
13,546
|
12,721
|
6.5
|
Mobile Services
|
8,702
|
7,965
|
9.3
|
FTTH
|
1,717
|
1,496
|
14.7
|
Corporate Data, ICT and Digital Services
|
1,132
|
1,093
|
3.5
|
Handsets and Electronics
|
881
|
854
|
3.1
|
Other Revenues¹
|
1,114
|
1,312
|
(15.1)
|
Total Costs
|
(8,269)
|
(7,778)
|
6.3
|
EBITDA
|
5,277
|
4,942
|
6.8
|
EBITDA Margin
|
39.0 %
|
38.9 %
|
0.1 p.p
|
EBITDA After Leases (AL)
|
4,047
|
3,784
|
7.0
|
EBITDA AL Margin
|
29.9 %
|
29.7 %
|
0.1 p.p
|
Net Income attributed to TelefônicaBrasil
|
896
|
835
|
7.3
|
Earnings per Share (EPS)
|
0.54
|
0.50
|
7.9
|
|
|
|
|
CAPEXex-IFRS 16
|
1,874
|
1,686
|
11.2
|
Operating Cash Flow (OpCF)
|
3,403
|
3,256
|
4.5
|
OpCF Margin
|
25.1 %
|
25.6 %
|
(0.5) p.p
|
Operating Cash Flow AL (OpCF AL)
|
2,173
|
2,097
|
3.6
|
OpCF AL Margin
|
16.0 %
|
16.5 %
|
(0.4) p.p
|
Free Cash Flow
|
2,380
|
3,130
|
(24.0)
|
|
|
|
|
Total Subscribers (Thousand)
|
113,481
|
112,280
|
1.1
|
1 – Other Revenues includes Voice, xDSL, FTTC and IPTV.
Net revenue continues to grow above inflation (+6.5% YoY), led by the strong performance ofMobile Service Revenue (MSR) (+9.3 YoY), driven by the double-digit growth of Postpaid Revenue (+11.4% YoY). Postpaid's strong performance is related to the increase in customer base (+6.6% YoY), both due to migrations from prepaid as well as through the acquisition of new customers, annual price adjustments, and by maintaining postpaid's (ex-M2M) churn in its lowest historical level, 0.97% per month.
Fixed revenue maintained its positive performance (+1.6% YoY), driven by the increase in FTTH Revenue, which continued to expand strongly (+14.7% YoY) in 1Q24, because of investments in network deployment and fiber customer additions. FTTH network is currently present in 443 cities (+7 cities YoY) with 26.8 millionhomes passed (+10.0% YoY) and 6.3 million homes connected (+12.3% YoY).
EBITDA totaled R$5,277 million (+6.8% YoY), with a margin of 39.0% (+0.1 p.p. YoY), due to the strong service revenue performance.
Operating Cash Flow totaled R$3,403 million (+4.5% YoY), with a margin of 25.1% (-0.5 p.p. YoY) over net revenue. In 1Q24, Capex ex-IFRS16 totaled R$1,874 million (+11.2% YoY) or 13.8% of revenues (+0.6 p.p. YoY), directed towards strengthening our mobile network.
Net income attributed to Telefônica Brasil reached R$896 million in 1Q24 (+7.3% YoY). Shareholder remuneration paid up to April reached R$2,190 million, related to previous interest on capital deliberations. Additionally, R$1,500 million from the resources resulting from the capital reduction will be paid on July 10th, 2024, while R$53 million were invested in share buybacks. For the years 2024 to 2026, the Company has committed to distribute an amount equal to or above 100% of net income for each fiscal year.
To download the complete version of the Company's earnings release, please visit our website: https://ri.telefonica.com.br/en
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SOURCE Telefônica Brasil S.A.