SÃO PAULO, July 29, 2024 /PRNewswire/ -- Telefônica Brasil - (B3: VIVT3; NYSE: VIV), announces its results for 2Q24.
2Q24 Results: Telefônica Brasil S.A.
Strong operating performance leading to above-inflation growth in revenues, EBITDA and net income.
|
R$ million
|
2Q24
|
2Q23
|
% Y-o-Y
|
6M24
|
6M23
|
% Y-o-Y
|
|
|
|
|
|
|
|
|
Net Operating Revenue
|
13,679
|
12,733
|
7.4
|
27,225
|
25,454
|
7.0
|
|
Mobile Services
|
8,907
|
8,184
|
8.8
|
17,609
|
16,149
|
9.0
|
|
FTTH
|
1,757
|
1,501
|
17.1
|
3,474
|
2,997
|
15.9
|
|
Corporate Data, ICT and others
|
1,128
|
1,042
|
8.3
|
2,260
|
2,135
|
5.9
|
|
Electronics
|
817
|
743
|
9.9
|
1,698
|
1,597
|
6.3
|
|
Other Revenues¹
|
1,070
|
1,263
|
(15.3)
|
2,184
|
2,575
|
(15.2)
|
|
Total Costs
|
(8,224)
|
(7,648)
|
7.5
|
(16,493)
|
(15,426)
|
6.9
|
|
EBITDA
|
5,455
|
5,085
|
7.3
|
10,732
|
10,027
|
7.0
|
|
EBITDA / Net Revenue Margin
|
39.9 %
|
39.9 %
|
(0.1) p.p.
|
39.4 %
|
39.4 %
|
0.0 p.p.
|
|
EBITDA AL
|
4,216
|
3,927
|
7.3
|
8,263
|
7,711
|
7.2
|
|
EBITDA AL / Net Revenue Margin
|
30.8 %
|
30.8 %
|
(0.0) p.p.
|
30.4 %
|
30.3 %
|
0.1 p.p.
|
|
Net Income
|
1,222
|
1,123
|
8.9
|
2,118
|
1,957
|
8.2
|
|
Earnings per Share (EPS)
|
0.74
|
0.68
|
9.5
|
1.28
|
1.18
|
8.8
|
|
|
|
|
|
|
|
|
CAPEX ex-IFRS 16
|
2,341
|
2,353
|
(0.5)
|
4,215
|
4,039
|
4.4
|
|
Operating Cash Flow (OpCF)
|
3,114
|
2,732
|
14.0
|
6,517
|
5,988
|
8.8
|
|
OpCF/ Net Revenue Margin
|
22.8 %
|
21.5 %
|
1.3 p.p.
|
23.9 %
|
23.5 %
|
0.4 p.p.
|
|
Operating Cash Flow AL (OpCF AL)
|
1,875
|
1,575
|
19.1
|
4,048
|
3,672
|
10.2
|
|
OpCF AL / Net Revenue Margin
|
13.7 %
|
12.4 %
|
1.3 p.p.
|
14.9 %
|
14.4 %
|
0.4 p.p.
|
|
Free Cash Flow
|
3,089
|
2,508
|
23.1
|
5,469
|
5,638
|
(3.0)
|
|
|
|
|
|
|
|
|
Total Subscribers (Thousand)
|
114,683
|
111,940
|
2.5
|
114,683
|
111,940
|
2.5
|
1– Other Revenues includes Voice, xDSL, FTTC and IPTV.
Net revenue grew (+7.4% YoY), driven by the strong performance ofMobile Service Revenue (MSR) (+8.8 YoY), which was boosted by the growth of Postpaid Revenue (+9.7% YoY). Postpaid's strong performance is related to the increase in customer base (+7.2% YoY), both due to migrations from prepaid as well as to the acquisition of new customers, annual price adjustments, and by maintaining postpaid's (ex-M2M) churn in historical low levels, 0.99% per month.
Fixed revenue had the biggest increase since 2015, +3.9% YoY, mainly driven by the increase in FTTH Revenue, which continued to expand strongly (+17.1% YoY) in 2Q24. FTTH network is currently present in 444 cities (+5 cities YoY) with 27.3 millionhomes passed (+10.5% YoY) and 6.5 million homes connected (+12.7% YoY).
EBITDA totaled R$5,455 million (+7.3% YoY), with a margin of 39.9% (-0.1 p.p. YoY), due to the strong service revenue performance.
Operating Cash Flow totaled R$3,114 million (+14.0% YoY), with a margin of 22.8% (+1.3 p.p. YoY) over net revenue. In 2Q24, Capex ex-IFRS16 totaled R$2,341 million (-0.5% YoY) or 17.1% of revenues (-1.4 p.p. YoY), directed towards strengthening our mobile network.
Net income attributed to Telefônica Brasil reached R$1,222 million in 2Q24 (+8.9% YoY). Shareholder remuneration paid up in 2024 reached, so far, R$4,137 million, of which R$2,190 million in interest of capital, R$1,500 million from the resources resulting from the capital reduction, while R$447 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.
