4Q24 Results: Telefnica Brasil S.A.
PRNewswire 25-Feb-2025 6:49 PM
SÃO PAULO, Feb. 25, 2025 /PRNewswire/ --
Telefônica Brasil - ((B3: VIVT3, NYSE:VIV) announces its results for 4Q24.
Strong operating performance led to robust net income growth and free cash flow generation.
R$ million
| 4Q24
| 4Q23
| % Y-o-Y
| 2024
| 2023
| % Y-o-Y
|
|
|
|
|
|
|
|
Net Operating Revenue
| 14,581
| 13,535
| 7.7
| 55,845
| 52,100
| 7.2
|
Mobile Services
| 9,201
| 8,602
| 7.0
| 36,022
| 33,216
| 8.4
|
FTTH
| 1,829
| 1,627
| 12.4
| 7,093
| 6,195
| 14.5
|
Corporate Data, ICT and Digital Services
| 1,346
| 1,111
| 21.1
| 4,735
| 4,307
| 9.9
|
Handsets and Electronics
| 1,177
| 1,042
| 13.0
| 3,730
| 3,453
| 8.0
|
Other Revenues¹
| 1,029
| 1,153
| (10.7)
| 4,265
| 4,930
| (13.5)
|
Total Costs
| (8,383)
| (7,783)
| 7.7
| (32,965)
| (30,782)
| 7.1
|
EBITDA
| 6,199
| 5,752
| 7.8
| 22,880
| 21,318
| 7.3
|
EBITDA Margin
| 42.5 %
| 42.5 %
| 0.0 p.p.
| 41.0 %
| 40.9 %
| 0.1 p.p.
|
EBITDA AL²
| 4,831
| 4,461
| 8.3
| 17,796
| 16,572
| 7.4
|
EBITDA AL Margin
| 33.1 %
| 33.0 %
| 0.2 p.p.
| 31.9 %
| 31.8 %
| 0.1 p.p.
|
Net Income
| 1,763
| 1,601
| 10.1
| 5,548
| 5,029
| 10.3
|
Earnings per Share (EPS)
| 1.08
| 0.97
| 11.5
| 3.38
| 3.03
| 11.3
|
|
|
|
|
|
|
|
CAPEX ex-IFRS 16
| 2,456
| 2,295
| 7.0
| 9,166
| 8,960
| 2.3
|
Operating Cash Flow (OpCF)
| 3,742
| 3,457
| 8.2
| 13,714
| 12,358
| 11.0
|
OpCF Margin
| 25.7 %
| 25.5 %
| 0.1 p.p.
| 24.6 %
| 23.7 %
| 0.8 p.p.
|
Operating Cash Flow AL (OpCF AL)
| 2,374
| 2,167
| 9.6
| 8,629
| 7,612
| 13.4
|
OpCF AL Margin
| 16.3 %
| 16.0 %
| 0.3 p.p.
| 15.5 %
| 14.6 %
| 0.8 p.p.
|
Free Cash Flow
| 1,080
| 592
| 82.4
| 8,219
| 8,148
| 0.9
|
|
|
|
|
|
|
|
Total Subscribers (Thousand)
| 116,050
| 113,001
| 2.7
| 116,050
| 113,001
| 2.7
|
1 – Other Revenues include Voice, xDSL, FTTC and IPTV. 2 – AL means After Leases.
Net revenue grew (+7.7% YoY), driven by the strong performance of mobile postpaid revenue (+9.1% YoY). Postpaid's performance is related to the increase in customer base (+7.6% YoY), which totaled 66.5 million in the quarter, driven by migrations from prepaid and the addition of new customers, that contributed to the +1.6% YoY increase in postpaid ex-M2M and ex-dongles ARPU, to R$52.1, while churn stood at historically low levels, 0.99%.
Fixed revenue increased +8.0% YoY, driven by the FTTH (+12.4% YoY) and Corporate Data, ICT and Digital Services (+21.1% YoY) revenues. Our FTTH network reached 29.1 million homes passed (+11.2% YoY), with 7.0 million homes connected (+12.7% YoY).
EBITDA expanded +7.8% YoY, with a margin of 42.5%, flat when comparing to 4Q23. EBITDA AL expanded by +8.3% YoY, with a margin of 33.1% (+0.2 p.p. YoY).
In 2024, Capex totaled R$9,166 million (+2.3% YoY), equivalent to 16.4% of revenues (-0.8 p.p. YoY), reflecting a decrease in investment intensity. Investments were directed towards strengthening our 5G network, which is already present in 504 cities (+2.9x YoY), covering 61.3% of the Brazilian population, and expanding our fiber operation.
Operating Cash Flow for the year was R$13,714 million (+11.0% YoY), with a margin of 24.6% (+0.8 p.p. YoY) over net revenue.
Net income attributed to Telefônica Brasil reached R$5,548 million in 2024 (+10.3% YoY). The Company delivered on its guidance of shareholder remuneration paid in 2024, distributing R$5,845 million (vs R$4,786 million in 2023), a growth of +22.1% YoY, reflecting a payout over net income of 105.3%. For the years 2025 and 2026, the Company reaffirms its commitment to distribute an amount equal to or greater than 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.
