SÃO PAULO, July 27, 2021 /PRNewswire/ -- Telefônica Brasil - ((B3: VIVT3, NYSE:VIV), announces its results for 2Q21.
Revenue acceleration driven by positive evolution of mobile and fiber accesses, combined with net profit growing 20.9%
R$ million | 2Q21 | % y-o-y |
Net Operating Revenues | 10,649 | 3.2 |
Core Revenue | 9,453 | 8.2 |
Mobile Revenue | 6,990 | 5.6 |
Fixed Core Revenue | 2,462 | 16.4 |
Non-Core Revenue | 1,197 | (24.4) |
Total Costs | (6,423) | 3.4 |
Recurring Total Costs | (5,860) | (5.7) |
Recurring EBITDA | 4,226 | 3.0 |
Recurring EBITDA Margin | 39.7% | (0.1) p.p. |
Reported EBITDA | 4,789 | 16.7 |
Reported EBITDA Margin % | 45.0% | 5.2 p.p. |
Net Income | 1,345 | 20.9 |
Capex | Ex- IFRS 16 | 2,251 | 17.9 |
Free Cash Flow after Lease Payments | 1,868 | (32.6) |
Total Subscribers (thousand) | 96,721 | 5.1 |
Core Subscribers | 87,197 | 8.7 |
Non-Core Subscribers | 9,524 | (19.0) |
Mobile market share reached 33.0% in April 2021[1], reaffirming Vivo's leadership in the mobile business. Postpaid accesses grew 8.7% y-o-y and accounted for 58.2% of total mobile accesses, with a market share of 36.9% in April 2021¹.
Fiber-to-the-home broadband customers totaled 4 million (+41.3% y-o-y), posting strong net additions in 2Q21. FTTH Revenues increased 49.7% versus 2Q20, reaching R$1,062 million.
Net revenues grew +3.2% y-o-y due to a portfolio of unmatched quality and service. Core businesses continues to increase its relevance, as it already represents 89% of total revenues. Core fixed revenues continue to grow significantly (+14.3% y-o-y) while mobile revenues are showing solid recovery once again (+5.6% y-o-y).
Total Costs went +3.4% up in 2Q21, as cost base is evolving with the sale of handsets and digital services, offsetting this quarter cost reductions based on digitalization and simplification initiatives.
Recurring EBITDA totaled R$4,226 million (+3.0% y-o-y) in 2Q21, with a recurring EBITDA margin of 39.7%.
Investments of R$2,251 million in 2Q21, focused on the expansion of the FTTH network and the capacity of the 4G and 4.5G networks.
Net income equaled R$1,345 million, (+20.9% y-o-y) with improved operating performance. Shareholder remuneration declared until June-21 reached R$1,330 million, representing a dividend yield of 7.7%.
Free Cash Flow after Leasing payments totaled R$1,868 million in 2Q21, reflecting the ongoing, efficient Company's financial management.
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
1 Most recent market share data published by Anatel with information of all large carriers.
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SOURCE Telefônica Brasil S.A.