SÃO PAULO, May 10, 2022
/PRNewswire/ -- Telefônica Brasil - (B3: VIVT3; NYSE: VIV),
announces its results for 1Q22.
Highest net revenue growth in 7 years, led by a historic mark
of 100 million total accesses.
|
R$
million
|
1Q22
|
1Q21
|
% YoY
|
|
|
|
|
|
Net Operating
Revenues
|
11,352
|
10,849
|
4.6
|
|
Core Revenue
|
10,285
|
9,563
|
7.5
|
|
Mobile
Revenue
|
7,581
|
7,147
|
6.1
|
|
Fixed Core
Revenue
|
2,704
|
2,416
|
11.9
|
|
Non-Core
Revenue
|
1,067
|
1,286
|
(17.0)
|
|
Total
Costs
|
(6,840)
|
(6,394)
|
7.0
|
|
EBITDA
|
4,511
|
4,455
|
1.3
|
|
EBITDA
Margin
|
39.7%
|
41.1%
|
(1.3)
p.p.
|
|
Net
Income
|
750
|
942
|
(20.4)
|
|
|
|
|
|
Capex | Ex- IFRS
16
|
1,880
|
1,943
|
(3.3)
|
|
Operating Cash Flow
(OpCF)
|
2,631
|
2,511
|
4.8
|
|
OpCF/Net Revenue
Margin
|
23.2%
|
23.1%
|
0.1
|
|
Free Cash Flow after
Lease Payments
|
2,477
|
2,199
|
12.6
|
|
|
|
|
|
Total Subscribers
(thousand)
|
99,942
|
95,809
|
4.3
|
|
Core
Subscribers
|
91,833
|
85,816
|
7.0
|
|
Non-Core
Subscribers
|
8,109
|
9,993
|
(18.8)
|
Mobile Service Revenue grew 5.7% YoY led by
Postpaid Revenue which increased 5.9% on a yearly
comparison. Revenue expansion was driven by 1.3 million new
customers in the postpaid segment during the last quarter.
Total accesses reached 100 million accesses, +4.1 million
compared to 1Q21. Core services subscribers account now for
91.9% of all accesses, a 2.3 p.p. YoY increase.
Vivo reached 4.8 million (+29.1% YoY) homes
connected with FTTH. Currently, Vivo's FTTH coverage is
available in 341 cities (+14 cities in 1Q22), with 20.5
million homes passed.
Net revenue increased +4.6% YoY, registering Vivo's
largest revenue growth in 7 years, with an astonishing
representativeness of the core businesses which now
accounts for 90.6% (+2.5 p.p.) of total revenues. Core fixed
revenue was boosted by the 25.9% YoY increase of FTTH
revenues, and core mobile revenue saw a robust increase in
handset revenue (+10.0% YoY) and the 5.9% growth in
postpaid service.
Total Costs grew 7.0% YoY, while the inflation had an
increase of 11.3%. The change in the cost mix is related to the
strong revenue growth in handset and digital services.
EBITDA totaled R$4,511
million (+1.3% YoY) in 1Q22, with an EBITDA margin of
39.7%.
In 1Q22, we bought back R$ 115
million in shares with the new Share Buyback
Program that will last until Feb-23. In the last 12 months, the
Company registered 113% in dividend payout, and a 7.6%
dividend yield.
Free Cash Flow after Leasing payments reached
R$ 2.5 billion this quarter
(+12.6% YoY).
In April 2022, Telefônica Brasil
concluded the acquisition of Oi's mobile assets with
potential synergies of R$ 5.4
billion. Synergies will come from the optimization of
operation costs and efficient allocation of investments due to the
integration of incorporated assets, thus benefiting the Brazilian
telecommunications sector and reinforcing Vivo's mobile
leadership.
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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content:https://www.prnewswire.com/news-releases/1q22-results-telefonica-brasil-sa-301544470.html
SOURCE Telefônica Brasil