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.
