SAO PAULO, Feb. 21, 2017 /PRNewswire/ -- Telefônica Brasil -
(Bovespa: VIVT3 [Common Shares] / VIVT4 [Preferred Shares]; NYSE:
VIV), announces its results for the 4Q16. In 4Q16, Vivo maintains
capture of synergies and efficiency initiatives, with solid margin
expansion and cash flow generation.
|
Consolidated in R$
million
|
4Q16
|
%
y-o-y
|
2016
|
%
y-o-y
|
|
|
|
|
|
|
|
|
Net Operating
Revenues
|
10,873.6
|
1.0
|
42,508.4
|
0.9
|
|
|
Net Operating
Services Revenues
|
10,596.8
|
1.8
|
41,312.9
|
1.7
|
|
|
Net services mobile revenues
|
6,315.8
|
3.9
|
24,342.7
|
3.0
|
|
|
Net fixed
revenues
|
4,281.0
|
(1.2)
|
16,970.2
|
(0.2)
|
|
|
Net handset
revenues
|
276.9
|
(20.7)
|
1,195.6
|
(20.0)
|
|
|
Operating
costs
|
(7,250.3)
|
(1.1)
|
(28,486.0)
|
(3.2)
|
|
|
Recurring Operating
costs*
|
(7,197.8)
|
(1.8)
|
(28,845.8)
|
(1.9)
|
|
|
EBITDA
|
3,623.3
|
5.6
|
14,022.4
|
10.3
|
|
|
EBITDA Margin
%
|
33.3%
|
1.4 p.p.
|
33.0%
|
2.8 p.p.
|
|
|
Recurring
EBITDA*
|
3,675.8
|
7.1
|
13,662.6
|
7.3
|
|
|
Recurring EBITDA
Margin %*
|
33.8%
|
1.9 p.p.
|
32.1%
|
1.9 p.p.
|
|
|
Net income
|
1,214.8
|
9.0
|
4,085.2
|
22.6
|
|
|
|
|
|
|
|
|
Number of accesses
(thousand)
|
97,129
|
(0.1)
|
97,129
|
(0.1)
|
|
|
Mobile
accesses
|
73,778
|
0.7
|
73,778
|
0.7
|
|
|
Fixed
accesses
|
23,352
|
(2.4)
|
23,352
|
(2.4)
|
|
|
(*) Adjusted by the
towers sale in the 1Q16 in the amount of R$513,5 million, provision
for corporate restructure in 2Q16 in the amount of R$101.2 million,
R$19.2 million in the 3Q15 and R$52.5 million in the
4Q16.
|
|
|
|
Market share expansion, reaching 30% in December 2016 (+1.8 p.p. y-o-y).
Mobile ARPU recorded y-o-y growth of 10.8% in 4Q16,
fueled by the higher share of postpaid clients in the mix and the
higher data usage, whose ARPU increased by 31.8% y-o-y in 4Q16,
corresponding to 62.3% of total ARPU
Broadband accesses totaled 7.3 million customers in 4Q16
(+2.5% y-o-y), with FTTx* connections accounting for 57% of the
base, accompanied by y-o-y growth of 9.3%. Broadband ARPU increased
7.5% in 4Q16 over 4Q15, influenced by the growth in the
ultra-broadband customer base
Net operating service revenue grew 1.8% in 4Q16 over 4Q15
(4.2% up y-o-y excluding regulatory effects), and 1.7% in 2016 over
2015, maintaining the positive trajectory observed throughout the
year.
Mobile services revenue rose 3.9% y-o-y in 4Q16.
Excluding the effect from MTR reductions in 2016, this line
increased 6.2% over 4Q15. Data and digital services revenue
increased 23.7% y-o-y in 4Q16, accounting for 62% of mobile
services revenue
Operating costs fell 1.1% in 4Q16 over 4Q15. Excluding
the effect from the corporate restructuring in 4Q16, the reduction
was 1.8% (LTM IPCA +6.3%), reflecting the continuous efforts to
reduce costs by focusing on increasing efficiency and synergies
EBITDA totaled R$3.6
billion in 4Q16, 5.6% up on 4Q15, accompanied by an
EBITDA margin of 33.3% (+1.4 p.p. y-o-y). Excluding the
R$52.5 million non-recurring effect
in 4Q16, EBITDA moved up by 7.1% over the previous year,
with a margin growth of 1.9 p.p., fueled by the capture of
synergies and efficiency initiatives. In 2016, recurring
EBITDA totaled R$13,663 million
(+7.3% y-o-y), accompanied by an EBITDA margin of 32.1%
(+1.9 p.p. y-o-y)
CAPEX amounted to R$2.8
billion in 4Q16 and R$8.0
billion in 2016, excluding the investment in licenses made
in the third quarter. EBITDA - Capex grew 28.2% in 2016 over
2015, reaching R$5.7 billion
The focus on executing synergies guaranteed the capture
of 71% of NPV of best scenario and the full capture of the NPV of
base scenario.
Net income totaled R$4,085
million in 2016 (+22.6% y-o-y), with IOC and
dividends for the fiscal year amounting to R$4.1 billion, resulting in a payout of 105.6% on
adjusted net income.
TELEFÔNICA BRASIL – Investor
Relations
Eduardo Navarro
David Melcon
Luis Plaster
Maria Tereza David
+55 11 3430-3687 / ir.br@telefonica.com
Telefônica Brasil S.A.
Av. Eng. Luis Carlos Berrini, 1376 –
28º andar
São Paulo - 04571-936
Telefone: +55 11 7420-1172
E-mail: ri.telefonicabr@telefonica.com.br
To download the complete version of the Company's earnings
release, please visit our website:
http://www.telefonica.com.br/ir
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/4q16-results-telefonica-brasil-sa-300411179.html
SOURCE Telefonica Brasil S.A.