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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 / ir.br@telefonica.com 

To download the complete version of the Company’s earnings release, please visit our website: http://www.telefonica.com.br/ir

Cision View original content:http://www.prnewswire.com/news-releases/1q21-results-telefonica-brasil-sa-301289251.html

SOURCE Telefônica Brasil

About the author

Smruti Alinje Bhalerao, Editor, Prittle Prattle News

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