SÃO PAULO, Feb. 23, 2021
/PRNewswire/ -- Telefônica Brasil - (B3: VIVT3 [Common Shares];
NYSE: VIV), announces its results for 4Q20 and 2020.
Leadership reaffirmed in mobile and fiber,
combined with strong financial performance and shareholder
remuneration
R$
million
|
4Q20
|
%
y-o-y
|
2020
|
%
y-o-y
|
|
|
|
|
|
Net Operating
Revenues
|
11,193
|
(1.6)
|
43,126
|
(2.6)
|
Net Mobile Revenues
|
7,569
|
1.6
|
28,421
|
(0.9)
|
Net Fixed Revenues
|
3,623
|
(7.7)
|
14,705
|
(5.7)
|
Operating
Costs
|
(6,316)
|
(1.5)
|
(25,318)
|
(3.4)
|
Recurring Operating
Costs
|
(6,316)
|
(3.4)
|
(25,394)
|
(3.5)
|
EBITDA
|
4,877
|
(1.8)
|
17,808
|
(1.8)
|
EBITDA
Margin
|
43.6%
|
(0.1)
p.p.
|
41.3%
|
0.3
p.p.
|
Recurring
EBITDA
|
4,877
|
0.8
|
17,733
|
(1.2)
|
Recurring EBITDA Margin %
|
43.6%
|
1.0
p.p.
|
41.1%
|
0.6
p.p.
|
Net
Income
|
1,293
|
1.5
|
4,771
|
(4.6)
|
|
|
|
|
|
Capex Ex-
Licenses | Ex- IFRS 16
|
2,429
|
3.1
|
7,789
|
(11.9)
|
Free Cash Flow
after Lease Payments
|
708
|
(72.8)
|
9,610
|
12.6
|
|
|
|
|
|
Total Subscribers
(thousand)
|
95,051
|
1.5
|
95,051
|
1.5
|
Mobile
subscribers
|
78,532
|
5.3
|
78,532
|
5.3
|
Fixed
subscribers
|
16,519
|
(13.3)
|
16,519
|
(13.3)
|
|
|
|
|
|
Core
Revenues
|
9,828
|
3.2
|
37,030
|
1.5
|
Core Revenues / Net
Operating Revenues
|
87.8%
|
4.1 p.p.
|
85.9%
|
3.5 p.p.
|
Non-core
Revenues
|
1,365
|
(26.4)
|
6,096
|
(21.7)
|
Non-core Revenues /
Net Operating Revenues
|
12.2%
|
(4.1) p.p.
|
14.1%
|
(3.5) p.p.
|
Mobile market share reached 33.6% in December 2020 and remains at historic highs.
Postpaid accesses grew 3.9% y-o-y and accounted for 57% of
total mobile accesses, with a market share of 37.7% in December 2020 and the lowest churn in 5
years.
Fiber-to-the-home broadband customers totaled 3,378
thousand (+36% y-o-y), posting accelerated additions of
high-quality customers in 4Q20. FTTH ARPU increased 13%
versus 4Q19, reaching R$91.9.
Core businesses represented 88% of total revenues with
increasing relevance. FTTH revenues continue
to grow significantly (+52.9% y-o-y) while mobile service
revenues are showing solid recovery growing 2.1% y-o-y.
Operating Costs decreased 3.4% y-o-y in 4Q20, driven by
digitalization and automation initiatives.
Recurring EBITDA totaled R$4,877 million (+0.8% y-o-y) in 4Q20, with a
recurring EBITDA margin of 43.6%.
Investments of R$7,789
million in 2020, focused on the expansion of the FTTH
network and the capacity of the 4G and 4.5G networks.
Net Income of R$1,293
million in 4Q20, up 1.5% y-o-y. In 2020, net income reached
R$4,771 million, down 4.6% y-o-y.
Proposed shareholder remuneration based on 2020 profit
reaches R$5,418 million, representing
a payout of 113.6%, with a dividend yield of
7.0%.
Free Cash Flow after Leasing payments reached
R$9,610 million in 2020 (+12.6%
y-o-y), the highest ever cash generation as a result of
Capex optimization and lower operating, financial and tax
payments.
TELEFÔNICA BRASIL – Investor Relations
Christian Gebara
David Melcon
Luis Plaster
João Pedro Carneiro
+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
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SOURCE Telefônica Brasil