SÃO PAULO, Feb. 23, 2021 /PRNewswire/ -- Telefônica Brasil - (B3: VIVT3 [Common Shares]; NYSE: VIV), announces its results for 4Q20 and 2020.
Leadership reaffirmed in mobile and fiber, combined with strong financial performance and shareholder remuneration
R$ million |
4Q20 |
% y-o-y |
2020 |
% y-o-y |
Net Operating Revenues |
11,193 |
(1.6) |
43,126 |
(2.6) |
Net Mobile Revenues |
7,569 |
1.6 |
28,421 |
(0.9) |
Net Fixed Revenues |
3,623 |
(7.7) |
14,705 |
(5.7) |
Operating Costs |
(6,316) |
(1.5) |
(25,318) |
(3.4) |
Recurring Operating Costs |
(6,316) |
(3.4) |
(25,394) |
(3.5) |
EBITDA |
4,877 |
(1.8) |
17,808 |
(1.8) |
EBITDA Margin |
43.6% |
(0.1) p.p. |
41.3% |
0.3 p.p. |
Recurring EBITDA |
4,877 |
0.8 |
17,733 |
(1.2) |
Recurring EBITDA Margin % |
43.6% |
1.0 p.p. |
41.1% |
0.6 p.p. |
Net Income |
1,293 |
1.5 |
4,771 |
(4.6) |
Capex Ex- Licenses | Ex- IFRS 16 |
2,429 |
3.1 |
7,789 |
(11.9) |
Free Cash Flow after Lease Payments |
708 |
(72.8) |
9,610 |
12.6 |
Total Subscribers (thousand) |
95,051 |
1.5 |
95,051 |
1.5 |
Mobile subscribers |
78,532 |
5.3 |
78,532 |
5.3 |
Fixed subscribers |
16,519 |
(13.3) |
16,519 |
(13.3) |
Core Revenues |
9,828 |
3.2 |
37,030 |
1.5 |
Core Revenues / Net Operating Revenues |
87.8% |
4.1 p.p. |
85.9% |
3.5 p.p. |
Non-core Revenues |
1,365 |
(26.4) |
6,096 |
(21.7) |
Non-core Revenues / Net Operating Revenues |
12.2% |
(4.1) p.p. |
14.1% |
(3.5) p.p. |
Mobile market share reached 33.6% in December 2020 and remains at historic highs. Postpaid accesses grew 3.9% y-o-y and accounted for 57% of total mobile accesses, with a market share of 37.7% in December 2020 and the lowest churn in 5 years.
Fiber-to-the-home broadband customers totaled 3,378 thousand (+36% y-o-y), posting accelerated additions of high-quality customers in 4Q20. FTTH ARPU increased 13% versus 4Q19, reaching R$91.9.
Core businesses represented 88% of total revenues with increasing relevance. FTTH revenues continue to grow significantly (+52.9% y-o-y) while mobile service revenues are showing solid recovery growing 2.1% y-o-y.
Operating Costs decreased 3.4% y-o-y in 4Q20, driven by digitalization and automation initiatives.
Recurring EBITDA totaled R$4,877 million (+0.8% y-o-y) in 4Q20, with a recurring EBITDA margin of 43.6%.
Investments of R$7,789 million in 2020, focused on the expansion of the FTTH network and the capacity of the 4G and 4.5G networks.
Net Income of R$1,293 million in 4Q20, up 1.5% y-o-y. In 2020, net income reached R$4,771 million, down 4.6% y-o-y. Proposed shareholder remuneration based on 2020 profit reaches R$5,418 million, representing a payout of 113.6%, with a dividend yield of 7.0%.
Free Cash Flow after Leasing payments reached R$9,610 million in 2020 (+12.6% y-o-y), the highest ever cash generation as a result of Capex optimization and lower operating, financial and tax payments.
TELEFÔNICA BRASIL – Investor Relations
Christian Gebara
David Melcon
Luis Plaster
João Pedro Carneiro
+55 11 3430-3687 / [email protected]
To download the complete version of the Company's earnings release, please visit our website: http://www.telefonica.com.br/ir
SOURCE Telefônica Brasil
Related Links
http://www.telefonica.com.br/ir
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