4Q16 Results: Telefônica Brasil S.A.
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
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4Q16
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% y-o-y
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2016
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% y-o-y
|
|
|
|
|
|
|
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Net Operating Revenues
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10,873.6
|
1.0
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42,508.4
|
0.9
|
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Net Operating Services Revenues
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10,596.8
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1.8
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41,312.9
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1.7
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|
Net services mobile revenues
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6,315.8
|
3.9
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24,342.7
|
3.0
|
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Net fixed revenues
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4,281.0
|
(1.2)
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16,970.2
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(0.2)
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Net handset revenues
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276.9
|
(20.7)
|
1,195.6
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(20.0)
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Operating costs
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(7,250.3)
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(1.1)
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(28,486.0)
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(3.2)
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Recurring Operating costs*
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(7,197.8)
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(1.8)
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(28,845.8)
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(1.9)
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EBITDA
|
3,623.3
|
5.6
|
14,022.4
|
10.3
|
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EBITDA Margin %
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33.3%
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1.4 p.p.
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33.0%
|
2.8 p.p.
|
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Recurring EBITDA*
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3,675.8
|
7.1
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13,662.6
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7.3
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Recurring EBITDA Margin %*
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33.8%
|
1.9 p.p.
|
32.1%
|
1.9 p.p.
|
|
Net income
|
1,214.8
|
9.0
|
4,085.2
|
22.6
|
|
|
|
|
|
|
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Number of accesses (thousand)
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97,129
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(0.1)
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97,129
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(0.1)
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|
Mobile accesses
|
73,778
|
0.7
|
73,778
|
0.7
|
|
Fixed accesses
|
23,352
|
(2.4)
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23,352
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(2.4)
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|
(*) 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.
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|
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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 / [email protected]
Telefônica Brasil S.A. Av. Eng. Luis Carlos Berrini, 1376 – 28º andar São Paulo - 04571-936 Telefone: +55 11 7420-1172 E-mail: [email protected]
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.
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