3Q16 Results: Telefônica Brasil S.A.
SAO PAULO, Oct. 25, 2016 /PRNewswire/ -- Telefônica Brasil - (Bovespa: VIVT3 [Common Shares] / VIVT4 [Preferred Shares]; NYSE: VIV), announces its results for the 3Q16. In 3Q16, Vivo maintains capture of synergies and efficiency initiatives, with solid margin expansion and cash flow generation.
Consolidated in R$ million
|
3Q16
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% y-o-y
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9M16
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% y-o-y
|
|
|
|
|
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Net Operating Revenues
|
10,693.4
|
1.1
|
31,634.8
|
0.8
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Net mobile revenues
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6,439.0
|
2.7
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18,945.6
|
1.3
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Net fixed revenues
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4,254.4
|
(1.4)
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12,689.2
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0.2
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Operating costs
|
(7,283.1)
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(2.2)
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(21,235.7)
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(3.9)
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Recurring Operating costs*
|
(7,283.1)
|
(1.9)
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(21,648.0)
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(1.9)
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EBITDA
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3,410.3
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8.8
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10,399.1
|
12.0
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EBITDA Margin %
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31.9%
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2.3 p.p.
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32.9%
|
3.3 p.p.
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Recurring EBITDA*
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3,410.3
|
8.1
|
9,986.8
|
7.4
|
Recurring EBITDA Margin %*
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31.9%
|
2.1 p.p.
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31.6%
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1.9 p.p.
|
Net income
|
952.7
|
9.6
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2,870.4
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29.5
|
|
|
|
|
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Number of accesses (thousand)
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97,202
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(6.2)
|
97,202
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(6.2)
|
Mobile accesses
|
73,495
|
(7.5)
|
73,495
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(7.5)
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Fixed accesses
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23,707
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(2.3)
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23,707
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(2.3)
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(*) Adjusted by the towers sale in 1Q16 in the amount of R$ 513.5 million, provision for organizational restructure in 2Q16 in the amount of R$ 101.2 million and in 3Q15 in the amount of R$ 19.2 million.
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Leadership in postpaid, with continued growth (+6.8% y-o-y in 3Q16) and share of net additions reaching 42.9% until August 2016. Postpaid market share stood at 42.4% in August (+0.3 p.p. y-o-y).
Mobile ARPU recorded y-o-y growth of 14.9% in 3Q16, driven by market rationality, the increased mix of postpaid clients and the 35% y-o-y growth in Data ARPU, which corresponded to 58.9% of total ARPU in the period.
Broadband accesses totaled 7.3 million in 3Q16 (+1.8% y-o-y), with FTTx accounting for 56.3% of the total accesses and with an 8.6% y-o-y growth. Broadband ARPU increased by 7.8% y-o-y in 3Q16, influenced by the growth in the ultra-broadband customer base.
Pay TV accesses totaled 1.8 million in 3Q16, with IPTV growth of 38.5%, while pay TV ARPU grew 12.4%, reflecting the Company's strategy of focusing on higher-value clients.
Net operating services revenue grew 2.2% in 3Q16 over 3Q15 (+4.5% y-o-y excluding regulatory effects), maintaining its positive performance.
Mobile services revenue climbed 4.9% y-o-y in 3Q16. Excluding the effect of MTR reductions in 2016, this line increased 7.0% over 3Q15. Data and digital services revenue rose 23.3% y-o-y in 3Q16, driven by the strong increase in mobile internet revenue, which grew 36.4% over 3Q15.
Operating costs fell 2.2% y-o-y in 3Q16. Excluding the effect from the corporate restructuring in 3Q15, the reduction was 1.9%, reflecting the continuous efforts to reduce costs by focusing on increasing efficiency and synergies.
EBITDA totaled R$3.4 billion in 3Q16, 8.8% up on 3Q15, with an EBITDA margin of 31.9% (+2.3 p.p. y-o-y). Excluding the R$19.2 million non-recurring effect in 3Q15, EBITDA climbed 8.1% y-o-y, with a margin increase of 2.1 p.p. over the previous year, driven by the capture of synergies and efficiency initiatives.
Third-quarter investments amounted to R$1.9 billion, accounting for 18.2% of net operating revenue. Recurring EBITDA – Capex grew by 42.3% over 3Q15, with a strong expansion in FCF (+36.7% y-o-y).
The focus on executing synergies guaranteed the capture of 64% of NPV of best case scenario and fully delivering the NPV of the base case scenario.
TELEFÔNICA BRASIL – Investor Relations Amos Genish David Melcon Luis Plaster Maria Tereza David +55-11-3430-3687 / [email protected]
To download the complete version of the Company's earnings release, please visit our website: http://www.telefonica.com.br/ir
Contact: Telefônica Brasil S.A. Av. Eng. Luis Carlos Berrini, 1376 - 28º andar São Paulo - 04571-936 Telephone: +55-11-7420-1172 E-mail: [email protected]
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/3q16-results-telefonica-brasil-sa-300351176.html
SOURCE Telefonica Brasil S.A.
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