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    4Q22 Results: Telefônica Brasil S.A.

    2/15/23 5:56:00 PM ET
    $VIV
    Telecommunications Equipment
    Telecommunications
    Get the next $VIV alert in real time by email

    SÃO PAULO, Feb. 15, 2023 /PRNewswire/ -- Telefônica Brasil - ((B3: VIVT3, NYSE:VIV), announces its results for 4Q22 and 2022.

    Vivo reinforces its leadership with a double-digit growth in Customer Base and Revenues, leading to strong Shareholder Remuneration in 2022

    R$ million

     4Q22

     4Q21

    % Y-o-Y

    2022

    2021

    % Y-o-Y















    Net Operating Revenues

    12,659

    11,501

    10.1

    48,041

    44,033

    9.1

    Core Revenue

    11,771

    10,415

    13.0

    44,151

    39,319

    12.3

    Mobile Revenue

    8,899

    7,847

    13.4

    33,070

    29,376

    12.6

    Fixed Core Revenue

    2,872

    2,568

    11.9

    11,081

    9,942

    11.5

    Non-Core Revenue

    888

    1,086

    (18.2)

    3,890

    4,714

    (17.5)

    Recurring Total Costs

    (7,425)

    (6,568)

    13.0

    (28,760)

    (26,005)

    10.6

    Reported Total Costs

    (7,425)

    (6,568)

    13.0

    (28,760)

    (25,025)

    14.9

    Recurring EBITDA

    5,234

    4,933

    6.1

    19,282

    18,027

    7.0

    Recurring EBITDA Margin

    41.3 %

    42.9 %

    (1.5) p.p.

    40.1 %

    40.9 %

    (0.8) p.p.

    Reported EBITDA

    5,234

    4,933

    6.1

    19,282

    19,007

    1.4

        Reported EBITDA Margin %

    41.3 %

    42.9 %

    (1.5) p.p.

    40.1 %

    43.2 %

    (3.0) p.p.

    Net Income

    1,126

    2,628

    (57.2)

    4,058

    6,229

    (34.9)















    Capex | Ex- IFRS 16 and Licenses

    2,489

    2,339

    6.4

    9,530

    8,685

    9.7

    Operating Cash Flow (OpCF)

    2,746

    2,594

    5.9

    9,752

    10,323

    (5.5)

    OpCF/Net Revenue Margin

    21.7 %

    22.6 %

    (0.9) p.p.

    20.3 %

    23.4 %

    (3.1) p.p.

    Free Cash Flow after Lease Payments

    816

    737

    10.7

    7,289

    7,438

    (2.0)















    Total Subscribers (thousand)

    112,330

    98,760

    13.7

    112,330

    98,760

    13.7

    Core Subscribers

    104,845

    90,373

    16.0

    104,845

    90,373

    16.0

    Non-Core Subscribers

    7,485

    8,387

    (10.8)

    7,485

    8,387

    (10.8)

     

    Net Operating Revenue grew above inflation (10.1% YoY) led by Mobile Service Revenue, which increased 13.6% YoY.  Postpaid Revenue and Prepaid Revenue grew, on an annual comparison, +13.2% and +15.0% respectively. These increases were driven by the expansion of the customer base, annual price readjustments and churn in historic low levels. Customer base totaled 112 million accesses (13.7% YoY) of which 98 million were mobile accesses (+16.8% YoY).

    Net Fixed Revenue rose +2.9% YoY - the biggest increase since 2015 - due to a higher representativeness of Core Fixed Revenue, which is corresponding to 76.4% (+6.1 p.p.) of Net Fixed Revenue. FTTH Revenue grew +18.8% YoY as our FTTH network reached 82 new cities YoY, now present in 409 Brazilian cities, with 23.3 million homes passed and adding 3.7 million new homes connected.

    When not considering Depreciation and Amortization, Recurring Total Costs expanded +13.0% YoY, being impacted by changes in revenue mix and inflation. Recurring EBITDA totaled R$5,234 million (+6.1% YoY) in 4Q22, with a Recurring EBITDA margin of 41.3%.

    Throughout 2022, the Company declared R$ 5,104 million in dividends and interest on capital, and the Share Buyback Program totaled R$ 607 million in shares. In addition, the Board of Directors proposed the deliberation of R$ 826.7 million in dividends to be ratified at the General Shareholders' Meeting of April 13, 2023. The Company also approved the new Share Buyback Program of up to R$ 500 million in ordinary shares and the cancellation of treasury shares (13,381,540 shares or 0.80% of the capital stock). For 2023, the Company projects that its CAPEX, excluding licenses and leasing (IFRS 16), will reach up to R$ 9 billion.

    TELEFÔNICA BRASIL – Investor Relations

    Christian Gebara

    David Melcon

    João Pedro Carneiro

    Gabriel Figueiredo Menezes

    +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

    Cision View original content:https://www.prnewswire.com/news-releases/4q22-results-telefonica-brasil-sa-301748216.html

    SOURCE Telefônica Brasil S.A.

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