1Q21 Results: Telefônica Brasil S.A.
SAO PAULO, May 11, 2021 /PRNewswire/ — Telefônica Brasil – (B3: VIVT3 [Common Shares]; NYSE: VIV), announces its results for 1Q21.
Net revenue shows an inflection point and resumes growth in the quarter, driven by record revenues in fiber
R$ million |
1Q21 |
% y-o-y |
Net Operating Revenues |
10,849 |
0.2 |
Core Revenue |
9,563 |
4.7 |
Mobile Revenue |
7,147 |
1.1 |
Fixed Core Revenue |
2,416 |
17.2 |
Non-Core Revenue |
1,286 |
(24.1) |
Total Costs |
(6,394) |
1.2 |
Recurring Total Costs |
(6,394) |
0.0 |
Recurring EBITDA |
4,455 |
0.5 |
Recurring EBITDA Margin |
41.1% |
0.1 p.p. |
Reported EBITDA |
4,455 |
(1.1) |
Reported EBITDA Margin % |
41.1% |
(0.6) p.p. |
Net Income |
942 |
(18.3) |
Capex | Ex- IFRS 16 |
1,943 |
18.0 |
Free Cash Flow after Lease Payments |
2,199 |
3.7 |
Total Subscribers (thousand) |
95,809 |
2.9 |
Core Subscribers |
85,816 |
6.6 |
Non-Core Subscribers |
9,993 |
(20.4) |
Mobile market share reached 33.1% in March 2021, maintaining undisputed leadership in the mobile business. Postpaid accesses grew 5.2% y-o-y and accounted for 57.7% of total mobile accesses, with a market share of 37.0% in March 2021.
Fiber-to-the-home broadband customers totaled 3,746 thousand (+41.2% y-o-y), posting accelerated additions of high-quality customers in 1Q21. FTTH Revenues increased 61.2% versus 1Q20, reaching the record of R$1,010 million.
Net revenues resume growth (+0.2% y-o-y), underlining the successful transformation of revenue profile. Core businesses represented 88% of total revenues with increasing relevance. Core fixed revenues continue to grow significantly (+17.2% y-o-y) while mobile revenues are showing solid recovery (+1.1% y-o-y).
Total Costs remained flat in 1Q21, despite the accelerated inflation, as Company’s efficient cost management compensated higher cost of goods and services sold.
Recurring EBITDA totaled R$4,455 million (+0.5% y-o-y) in 1Q21, with a recurring EBITDA margin of 41.1%.
Investments of R$1,943 million in 1Q21, focused on the expansion of the FTTH network and the capacity of the 4G and 4.5G networks.
Shareholder remuneration declared until April-21 reaches R$700 million, representing a dividend yield of 7.9%.
Free Cash Flow after Leasing payments reached R$2,199 million in 1Q21 (+3.7% y-o-y), reflecting efficient financial management.
Launch of Vivo Pay and Vida V, and partnerships with Dotz, CDF and Itaucard, strengthen Vivo’s positioning as a digital services hub.
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
View original content:http://www.prnewswire.com/news-releases/1q21-results-telefonica-brasil-sa-301289251.html
SOURCE Telefônica Brasil
The content is by PR Newswire. Headlines of Today Media is not responsible for the content provided or any links related to this content. Headlines of Today Media is not responsible for the correctness, topicality or the quality of the content.