SÃO PAULO, Feb. 22, 2022 /PRNewswire/ — Telefônica Brasil – (B3: VIVT3; NYSE: VIV), announces its results for 4Q21 and 2021.
Net income amounted to R$6.2 billion, a 30.6% increase from 2020, with the largest customer base ever
R$ million
4Q21
4Q20
% y-o-y
2021
2020
Net Operating Revenues
11.501
11.193
2,8
44.033
43.126
2,1
Core Revenue
10.415
9.828
6,0
39.319
37.030
6,2
Mobile Revenue
7.847
7.569
3,7
29.376
28.421
3,4
Fixed Core Revenue
2.568
2.259
13,7
9.942
8.609
15,5
Non-Core Revenue
1.086
1.365
(20,4)
4.714
6.096
(22,7)
Total Costs
(6.568)
(6.316)
4,0
(26.005)
(25.394)
2,4
Reported Total Costs
(25.025)
(25.318)
(1,2)
Recurring EBITDA
4.933
4.877
1,2
18.027
17.733
1,7
Recurring EBITDA Margin
42,9%
43,6%
(0,7) p.p.
40,9%
41,1%
(0,2) p.p.
Reported EBITDA
19.007
17.808
6,7
Reported EBITDA Margin %
43,2%
41,3%
1,9 p.p.
Net Income
2.628
1.293
103,2
6.229
4.771
30,6
Capex | Ex- IFRS 16
2.339
2.429
(3,7)
8.685
11,5
Free Cash Flow after Lease Payments
737
708
4,1
7.438
(18,6)
Total Subscribers (thousand)
98.760
95.051
3,9
Core Subscribers
90.373
84.507
6,9
Non-Core Subscribers
8.387
10.544
(20,5)
Mobile customer base reached 83.9 million accesses, +5.4 million compared to 4Q20, the highest historical level. Postpaid accesses reached 49.6 million, representing 59.1% of the total mobile customer base.
Vivo reached 4.6 million (+36.4% y-o-y) homes connected with FTTH, 1.2 million net additions in 2021. Currently, Vivo’s FTTH coverage is available in 327 cities (+61 cities in 2021), with 19.6 million homes passed.
Net revenue increased +2.8% y-o-y, with higher representativeness of the core businesses which now accounts for 90.6% (+2.7 p.p.) of total revenues. Mobile revenue grew 3.7% y-o-y driven by postpaid (3.9% y-o-y) and handset sales (+8.8% y-o-y). Core fixed revenue was boosted by the 31.2% y-o-y increase in FTTH revenues.
Total Costs increased 4.0% in the year, below inflation (IPCA-12M), which rose 10.1%. Given the controlled provisioning for bad debt, digitalization and efficiency initiatives, costs from operations had a -1.6% decline y-o-y.
EBITDA totaled R$4,933 million (+1.2% y-o-y) in 4Q21, with a recurring EBITDA margin of 42.9%.
Net income totaled R$6.2 billion, (+30.6% y-o-y) and Free Cash Flow after Leasing payments amounted R$7.4 billion in 2021, reflecting an efficient financial management. Dividend distribution of R$6.3 billion, representing a dividend yield of 7.7% and dividend payout of 101%.
Approval of the new Share Buyback Program and of the cancellation of treasury shares (14,046,652 shares or 0.83% of the capital stock).
To download the complete version of the Company’s earnings release, please visit our website: http://www.telefonica.com.br/ir
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SOURCE Telefônica Brasil
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