SÃO PAULO, Feb. 22, 2022
/PRNewswire/ -- Telefônica Brasil - (B3: VIVT3; NYSE: VIV),
announces its results for 4Q21 and 2021.
Net income amounted to R$6.2 billion, a 30.6% increase from 2020, with
the largest customer base ever
R$
million
|
4Q21
|
4Q20
|
%
y-o-y
|
2021
|
2020
|
%
y-o-y
|
|
|
|
|
|
|
|
Net Operating
Revenues
|
11.501
|
11.193
|
2,8
|
44.033
|
43.126
|
2,1
|
Core
Revenue
|
10.415
|
9.828
|
6,0
|
39.319
|
37.030
|
6,2
|
Mobile
Revenue
|
7.847
|
7.569
|
3,7
|
29.376
|
28.421
|
3,4
|
Fixed Core
Revenue
|
2.568
|
2.259
|
13,7
|
9.942
|
8.609
|
15,5
|
Non-Core
Revenue
|
1.086
|
1.365
|
(20,4)
|
4.714
|
6.096
|
(22,7)
|
Total
Costs
|
(6.568)
|
(6.316)
|
4,0
|
(26.005)
|
(25.394)
|
2,4
|
Reported Total
Costs
|
(6.568)
|
(6.316)
|
4,0
|
(25.025)
|
(25.318)
|
(1,2)
|
Recurring
EBITDA
|
4.933
|
4.877
|
1,2
|
18.027
|
17.733
|
1,7
|
Recurring EBITDA
Margin
|
42,9%
|
43,6%
|
(0,7)
p.p.
|
40,9%
|
41,1%
|
(0,2)
p.p.
|
Reported
EBITDA
|
4.933
|
4.877
|
1,2
|
19.007
|
17.808
|
6,7
|
Reported EBITDA Margin %
|
42,9%
|
43,6%
|
(0,7)
p.p.
|
43,2%
|
41,3%
|
1,9
p.p.
|
Net
Income
|
2.628
|
1.293
|
103,2
|
6.229
|
4.771
|
30,6
|
|
|
|
|
|
|
|
Capex | Ex-
IFRS 16
|
2.339
|
2.429
|
(3,7)
|
8.685
|
8.685
|
11,5
|
Free Cash Flow
after Lease Payments
|
737
|
708
|
4,1
|
7.438
|
7.438
|
(18,6)
|
|
|
|
|
|
|
|
Total Subscribers
(thousand)
|
98.760
|
95.051
|
3,9
|
98.760
|
98.760
|
3,9
|
Core
Subscribers
|
90.373
|
84.507
|
6,9
|
90.373
|
90.373
|
6,9
|
Non-Core
Subscribers
|
8.387
|
10.544
|
(20,5)
|
8.387
|
8.387
|
(20,5)
|
Mobile customer base reached 83.9 million accesses, +5.4
million compared to 4Q20, the highest historical
level. Postpaid accesses reached 49.6
million, representing 59.1% of the total mobile customer
base.
Vivo reached 4.6 million (+36.4% y-o-y) homes
connected with FTTH, 1.2 million net additions in 2021.
Currently, Vivo's FTTH coverage is available in
327 cities (+61 cities in 2021), with 19.6 million homes
passed.
Net revenue increased +2.8% y-o-y, with higher
representativeness of the core businesses which now
accounts for 90.6% (+2.7 p.p.) of total revenues. Mobile
revenue grew 3.7% y-o-y driven by postpaid (3.9% y-o-y) and handset
sales (+8.8% y-o-y). Core fixed revenue was boosted by
the 31.2% y-o-y increase in FTTH revenues.
Total Costs increased 4.0% in the year, below inflation
(IPCA-12M), which rose 10.1%. Given the controlled provisioning for
bad debt, digitalization and efficiency initiatives, costs
from operations had a -1.6% decline y-o-y.
EBITDA totaled R$4,933
million (+1.2% y-o-y) in 4Q21, with a recurring EBITDA
margin of 42.9%.
Net income totaled R$6.2
billion, (+30.6% y-o-y) and Free Cash Flow after
Leasing payments amounted R$7.4
billion in 2021, reflecting an efficient financial
management. Dividend distribution of R$6.3 billion, representing a dividend
yield of 7.7% and dividend payout of 101%.
Approval of the new Share Buyback Program and
of the cancellation of treasury shares (14,046,652 shares or
0.83% of the capital stock).
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