SAO PAULO, Nov. 5, 2024 /PRNewswire/ -- Telefônica Brasil - (B3: VIVT3; NYSE: VIV), announces its results for 3Q24.
Strong operating performance resulting in revenues, EBITDA, and net income growth along with reduced Capex intensity.
R$ million |
3Q24 |
3Q23 |
% Y-o-Y |
9M24 |
9M23 |
% Y-o-Y |
Net Operating Revenue |
14,039 |
13,112 |
7.1 |
41,264 |
38,565 |
7.0 |
Mobile Services |
9,212 |
8,465 |
8.8 |
26,821 |
24,614 |
9.0 |
FTTH |
1,790 |
1,570 |
14.0 |
5,264 |
4,568 |
15.2 |
Corporate Data, ICT, and others |
1,129 |
1,060 |
6.5 |
3,389 |
3,195 |
6.1 |
Electronics |
856 |
814 |
5.1 |
2,553 |
2,411 |
5.9 |
Other Revenues¹ |
1,053 |
1,202 |
(12.4) |
3,236 |
3,777 |
(14.3) |
Total Costs |
(8,089) |
(7,573) |
6.8 |
(24,582) |
(22,999) |
6.9 |
EBITDA |
5,950 |
5,539 |
7.4 |
16,682 |
15,566 |
7.2 |
EBITDA / Net Revenue Margin |
42.4 % |
42.2 % |
0.1 p.p. |
40.4 % |
40.4 % |
0.1 p.p. |
EBITDA AL |
4,702 |
4,400 |
6.9 |
12,965 |
12,111 |
7.1 |
EBITDA AL / Net Revenue Margin |
33.5 % |
33.6 % |
(0.1) p.p. |
31.4 % |
31.4 % |
0.0 p.p. |
Net Income |
1,667 |
1,472 |
13.3 |
3,785 |
3,429 |
10.4 |
Earnings per Share (EPS) |
1.02 |
0.89 |
14.4 |
2.30 |
2.07 |
11.2 |
CAPEX ex-IFRS 16 |
2,495 |
2,626 |
(5.0) |
6,710 |
6,665 |
0.7 |
Operating Cash Flow (OpCF) |
3,455 |
2,913 |
18.6 |
9,972 |
8,901 |
12.0 |
OpCF/ Net Revenue Margin |
24.6 % |
22.2 % |
2.4 p.p. |
24.2 % |
23.1 % |
1.1 p.p. |
Operating Cash Flow AL (OpCF AL) |
2,207 |
1,774 |
24.4 |
6,255 |
5,446 |
14.9 |
OpCF AL / Net Revenue Margin |
15.7 % |
13.5 % |
2.2 p.p. |
15.2 % |
14.1 % |
1.0 p.p. |
Free Cash Flow |
1,671 |
1,918 |
(12.9) |
7,139 |
7,556 |
(5.5) |
Total Subscribers (Thousand) |
115,245 |
111,582 |
3.3 |
115,245 |
111,582 |
3.3 |
1 |
Other Revenues include Voice, xDSL, FTTC and IPTV. |
Net revenue grew (+7.1% YoY), driven by the strong performance of Mobile Service Revenue (MSR) (+8.8 YoY), boosted by double-digit growth in postpaid revenue (+10.4% YoY). Postpaid's strong performance is related to the increase in customer base (+7.6% YoY), which totaled 65.0 million in the quarter, driven by migrations from prepaid and adding new customers, that contributed to the +3.5% YoY increase in postpaid ex-M2M and ex-dongles ARPU, to R$53.0.
Fixed revenue increased +3.6% YoY, driven by the FTTH (+14.0% YoY) and Corporate Data, ICT and Digital Services (+6.5% YoY) revenues. FTTH network is currently present in 444 cities (+5 cities YoY) with 28.3 million homes passed (+12.7% YoY) and 6.7 million homes connected (+12.5% YoY).
EBITDA totaled R$5,950 million (+7.4% YoY), with a margin of 42.4% (+0.1 p.p. YoY), reflecting the strong performance of mobile service revenue (+8.8% YoY) and cost control (+6.8% YoY).
In 3Q24, Capex ex-IFRS 16 amounted to R$2,495 million (-5.0% YoY), representing 17.8% of revenues (-2.3 p.p. YoY), directed towards strengthening our mobile network, with emphasis on 5G coverage, that is already present in 394 cities, including all cities with over 200 thousand inhabitants, representing 57% of the Brazilian population.
In 9M24, Operating Cash Flow totaled R$9,972 million (+12.0% YoY), with a margin of 24.2% (+1.1 p.p. YoY) over net revenue.
Net income attributed to Telefônica Brasil reached R$1,667 million in 3Q24 (+13.3% YoY). Shareholder remuneration paid up in 2024 was R$4,790 million (+0.1% vs FY 2023), of which R$2,190 million of interest on equity, R$1,500 million in capital reduction, while R$1,110 million were invested in share buybacks. For the years 2024 to 2026, the Company has committed to distribute an amount equal to or above 100% of net income for each fiscal year.
To download the complete version of the Company's earnings release, please visit our website: https://ri.telefonica.com.br/en
SOURCE Telefônica Brasil S.A.
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