Nov 5, 2024   SOURCE: PR NewsWire

3Q24 Results: Telefônica Brasil S.A.

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-       9M24       9M23     % Y-o-
                                                                       Y                                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 Revenues(1)                             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)    31.4 %     31.4 %        0.0
                                                                       p.p.                            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

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SOURCE Telefônica Brasil S.A.