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
SOURCE Telefônica Brasil
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