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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