PR Newswire
SÃO PAULO, Oct. 27, 2021 /PRNewswire/ -- Telefônica Brasil - (B3: VIVT3; NYSE: VIV), announces its results for 3Q21.
Fixed revenue back to growth and best mobile service revenue annual increase in 6 years, combined with net profit growing 8.5%
R$ million | 3Q21 | 3Q20 | % y-o-y | 9M21 | 9M20 | % y-o-y |
| | | | | | |
Net Operating Revenues | 11,033 | 10,792 | 2.2 | 32,532 | 31,934 | 1.9 |
Core Revenue | 9,888 | 9,337 | 5.9 | 28,904 | 27,202 | 6.3 |
Mobile Revenue | 7,391 | 7,163 | 3.2 | 21,529 | 20,852 | 3.2 |
Fixed Core Revenue | 2,496 | 2,174 | 14.8 | 7,375 | 6,350 | 16.1 |
Non-Core Revenue | 1,145 | 1,455 | (21.3) | 3,628 | 4,732 | (23.3) |
Total Recurring Costs | (6,620) | (6,470) | 2.3 | (19,437) | (19,078) | 1.9 |
Reported Total Costs | (6,203) | (6,470) | (4.1) | (18,457) | (19,002) | (2.9) |
Recurring EBITDA | 4,414 | 4,322 | 2.1 | 13,095 | 12,856 | 1.9 |
Recurring EBITDA Margin % | 40.0% | 40.0% | (0.0) p.p. | 40.3% | 40.3% | (0.0) p.p. |
Reported EBITDA | 4,830 | 4,322 | 11.8 | 14,075 | 12,932 | 8.8 |
Reported EBITDA Margin % | 43.8% | 40.0% | 3.7 p.p. | 43.3% | 40.5% | 2.8 p.p. |
Net Income | 1,315 | 1,212 | 8.5 | 3,602 | 3,478 | 3.6 |
| | | | | | |
Capex | Ex- IFRS 16 | 2,151 | 1,803 | 19.3 | 6,346 | 6,346 | 18.4 |
Free Cash Flow after Lease Payments | 2,634 | 3,540 | (25.6) | 6,701 | 6,701 | (20.5) |
| | | | | | |
Total Subscribers (thousand) | 97,424 | 93,718 | 4.0 | 97,424 | 97,424 | 4.0 |
Core Subscribers | 88,601 | 82,627 | 7.2 | 88,601 | 88,601 | 7.2 |
Non-Core Subscribers | 8,823 | 11,091 | (20.4) | 8,823 | 8,823 | (20.4) |
The customer base totaled 97.4 million accesses . The mobile customer base reached 82.3 million accesses, the highest volume since 2Q15. Postpaid accesses came to 48.1 million , an increase of +4.1 million in the last 12 months.
Mobile market share reached 33.0% in July 2021, reaffirming Vivo's leadership in the mobile business. Vivo's market share in postpaid reached 36.8% in July 2021 .
Fiber-to-the-home customers totaled 4.4 million (+39.2% y-o-y), posting strong net additions in 3Q21. Vivo Fibra is available in 309 cities (+ 65 cities y-o-y) with 18.3 million HPs (+ 3.8 million HPs in 12 months). FTTH Revenues reached R$1,137 million (+37.2% y-o-y).
Net revenues grew +2.2% y-o-y due to acceleration in mobile service revenue and return of growth in fixed revenue , driven by FTTH and Corporate Data and ICT. Mobile service revenues registered the highest growth in the last 6 years , with an expansion of +5.7% y-o-y. Total fixed revenue grows again after 4 years, with the highest relevance of the core fixed businesses.
Recurring Total Costs went +2.3% up in 3Q21, as cost base is evolving with a higher revenue from core businesses. Nevertheless, growth in costs remained substantially below inflation due to the continuous digitalization efforts.
Recurring EBITDA totaled R$4,414 million (+2.1% y-o-y) in 3Q21, with a recurring EBITDA margin of 40.0%.
Net income equaled R$1,315 million , (+8.5% y-o-y) with improved operating performance. Interest on Capital declared until September-21 reached R$1.9 billion , representing a dividend yield of 7.4% in the last 12 months. The company also accelerated its Share Buyback Program with 5.6 million shares repurchased during 3Q21.
Free Cash Flow after Leasing payments totaled R$2,634 million in 3Q21, due to the Company's efficient financial management.
Vivo and Ânima (B3: ANIM3) are negotiating a 50/50 joint venture to create a business platform focused on lifelong learning and employability .
TELEFÔNICA BRASIL – Investor Relations
Christian Gebara
David Melcon
João Pedro Carneiro
Gabriel Menezes
+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
SOURCE Telefônica Brasil S.A.