PR Newswire
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 / 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.