SÃO PAULO, Nov. 4, 2019
/PRNewswire/ -- Telefônica Brasil - (B3: VIVT3 [Common Shares] /
VIVT4 [Preferred Shares]; NYSE: VIV), announces its results for
3Q19.
Highest revenue growth in 15 quarters, driven by acceleration
in mobile revenues and transformation of fixed revenues mix,
coupled with efficient cost and financial management, leading to
EBITDA expansion and double-digit increase of free cash
flow
Consolidated in
R$ million
|
3Q19
|
%
y-o-y
|
|
|
|
Net Operating
Revenues
|
11,047
|
2.6
|
Net
Mobile Revenues
|
7,161
|
6.6
|
Net
Handset Revenues
|
645
|
31.5
|
Net
Fixed Revenues
|
3,886
|
(3.9)
|
Recurring Operating
Costs
|
(7,051)
|
2.5
|
Recurring
EBITDA
|
3,995
|
2.8
|
Recurring EBITDA Margin %
|
36.2%
|
0.1
p.p.
|
Net Income
|
913
|
(52.3)
|
Free Cash
Flow
|
2,187
|
18.6
|
|
|
|
Total Accesses
(thousand)
|
93,722
|
(3.1)
|
Mobile
accesses
|
73,833
|
(0.8)
|
Fixed
accesses
|
19,888
|
(10.8)
|
Mobile market share of 32.3% in August 2019 (7.5 p.p. higher than the second
player). Postpaid accesses grew 7.3%, accounting for 57.3%
of total mobile accesses, with a market share of 39.8% in
August 2019.
Broadband accesses totaled 7,120 thousand customers in
3Q19 and FTTH accesses grew 34.0% y-o-y, with 162 thousand net
additions in the 3Q19. Broadband ARPU moved up 11.6%
over 3Q18 reaching R$66.3.
Net revenues rose 2.6% y-o-y, reflecting the solid
performance of postpaid, handsets and FTTH. Mobile revenues
increased 6.6% y-o-y, driven by strong growth in ARPU, postpaid
accesses and handset sales. Mobile service revenues climbed 4.6%
y-o-y.
Recurring operating costs increased 2.5% y-o-y
mainly due to higher expenses related to handset sales, offset by
simplification, efficiency and digitalization initiatives.
Excluding the cost of goods sold, total costs rose 0.6% y-o-y.
Recurring EBITDA totaled R$
3,995 million in 3Q19, up 2.8% y-o-y, with an EBITDA margin
of 36.2% (+0.1 p.p. y-o-y).
Capex totaled R$ 2,432
million in 3Q19, focused on FTTH and expansion of 4G/4.5G
coverage and capacity.
Recurring net income fell 52.3% y-o-y in 3Q19, to
R$ 913 million. In the first nine
months of 2019, recurring net income reached R$ 3,892 million, up 2.6% y-o-y. Interest on
equity of R$ 2,238 million
already declared in 9M19.
Free cash flow moved up 18.6% y-o-y, to R$ 2,187 million in 3Q19, driven by EBITDA growth
and lower interests, taxes and other financial expenses, partially
offset by higher investment volume in the period.
TELEFÔNICA BRASIL – Investor
Relations
Christian
Gebara
David Melcon
Luis Plaster
João Pedro Carneiro
+55 11 3430-3687 / ir.br@telefonica.com
To download the complete version of the Company's earnings
release, please visit our website:
http://www.telefonica.com.br/ir
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SOURCE Telefônica Brasil S.A.