SÃO PAULO, Oct. 26,
2022 /PRNewswire/ -- Telefônica Brasil - (B3: VIVT3;
NYSE: VIV), announces its results for 3Q22.
Solid performances on revenues lead to better margins and
higher Net Income
R$
million
|
3Q22
|
3Q21
|
%
y-o-y
|
9M22
|
9M21
|
% y-o-y
|
|
|
|
|
|
|
|
Net Operating
Revenues
|
12,199
|
11,033
|
10.6
|
35,382
|
32,532
|
8.8
|
Core
Revenue
|
11,256
|
9,888
|
13.8
|
32,380
|
28,904
|
12.0
|
Mobile
Revenue
|
8,480
|
7,391
|
14.7
|
24,172
|
21,529
|
12.3
|
Fixed Core
Revenue
|
2,776
|
2,496
|
11.2
|
8,209
|
7,375
|
11.3
|
Non-Core
Revenue
|
943
|
1,145
|
(17.7)
|
3,002
|
3,628
|
(17.3)
|
Recurring Total
Costs
|
(7,242)
|
(6,620)
|
9.4
|
(21,335)
|
(19,437)
|
9.8
|
Reported Total
Costs
|
(7,242)
|
(6,203)
|
16.7
|
(21,335)
|
(18,457)
|
15.6
|
Recurring
EBITDA
|
4,957
|
4,414
|
12.3
|
14,047
|
13,095
|
7.3
|
Recurring EBITDA
Margin
|
40.6 %
|
40.0 %
|
0.6
p.p.
|
39.7 %
|
40.3 %
|
(0.6)
p.p.
|
Reported
EBITDA
|
4,957
|
4,830
|
2.6
|
14,047
|
14,075
|
(0.2)
|
Reported EBITDA Margin %
|
40.6 %
|
43.8 %
|
(3.1)
p.p.
|
39.7 %
|
43.3 %
|
(3.6)
p.p.
|
Net
Income
|
1,436
|
1,315
|
9.3
|
2,932
|
3,602
|
(18.6)
|
|
|
|
|
|
|
|
Capex | Ex- IFRS
16
|
2,586
|
2,151
|
20.2
|
7,041
|
6,346
|
11.0
|
Operating Cash Flow
(OpCF)
|
2,371
|
2,262
|
4.8
|
7,006
|
6,749
|
3.8
|
OpCF/Net Revenue
Margin
|
19.4 %
|
20.5 %
|
0.1
|
19.8 %
|
20.7 %
|
(4.6)
|
Free Cash Flow after
Lease Payments
|
1,839
|
2,634
|
(30.2)
|
6,473
|
6,701
|
(3.4)
|
|
|
|
|
|
|
|
Total Subscribers
(thousand)
|
111,688
|
97,424
|
14.6
|
111,688
|
97,424
|
14.6
|
Core
Subscribers
|
104,070
|
88,601
|
17.5
|
104,070
|
88,601
|
17.5
|
Non-Core
Subscribers
|
7,618
|
8,823
|
(13.7)
|
7,618
|
8,823
|
(13.7)
|
Net Operating Revenue grew 10.6% YoY led by
Mobile Service Revenue which increased 13.8% on a yearly
comparison, and by Handset Revenue, which in its turn, grew
a robust +25.9% YoY due to higher demand for 5G compatible
smartphones. Net Revenues in the period were not impacted by the
time difference between the disclosure of the new ICMS rates
and the reduction of prices on invoices.
Despite Vivo disconnecting 3 million mobile accesses, considered
inactive by Vivo's criteria regarding the acquisition of Oi Mobile,
Postpaid Revenue and Prepaid Revenue grew, on an
annual comparison, +12.0% and +21.5% respectively. These increases
were driven by the expansion of the customer base and annual price
adjustments in postpaid.
Net Fixed Revenue rose +2.1% YoY due to a higher
representativeness of Core Fixed Revenue, which is
corresponding to 74.6% (+6.1 p.p.) of Net Fixed Revenue. FTTH
Revenue grew +20.1% YoY as our FTTH network reached 71 new
cities YoY, now present in 380 Brazilian cities, with 22.3
million homes passed and 5.3 million homes
connected.
When not considering Depreciation and Amortization,
Recurring Total Costs expanded +9.4% YoY, as Cost
of Services reached 1.4 billion with higher revenues from the
sale of licenses and services to companies, and with Costs of
Products Sold growing +39.7% YoY, given a solid performance in
the sale of handsets, accessories and IT equipment.
Recurring EBITDA totaled R$4,957
million (+12.3% YoY) in 3Q22, with a Recurring EBITDA margin
of 40.6%.
In 3Q22, we bought back R$ 144
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 an 9.2%
dividend yield, considering the share buyback program.
Net Income totaled R$1,436
million in 3Q22, rising +9.3% YoY, due to higher
revenues and the improvement in the financial result.
TELEFÔNICA BRASIL – Investor
Relations
Christian
Gebara
David Melcon
João Pedro Carneiro
Gabriel Figueiredo Menezes
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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content:https://www.prnewswire.com/news-releases/3q22-results-telefonica-brasil-sa-301659917.html
SOURCE Telefônica Brasil S.A.