SAO PAULO, July 26, 2016 /PRNewswire/ -- Telefonica Brasil -
(Bovespa: VIVT3 [Common Shares] / VIVT4 [Preferred Shares]; NYSE:
VIV), announces its results for the 2Q16. In 2Q16, Vivo continues
to execute its data centric strategy, which combined with the
capture of synergies and efficiency initiatives led to revenue
growth acceleration, margin expansion and solid cash generation in
2Q16.
Consolidated in R$
million
|
2Q16
|
%
y-o-y
|
6M16
|
%
y-o-y
|
|
|
|
|
|
Net Operating
Revenues
|
10,510.0
|
0.8
|
20,941.4
|
0.7
|
Net mobile
revenues
|
6,293.7
|
1.3
|
12,506.6
|
0.5
|
Net fixed
revenues
|
4,216.3
|
0.1
|
8,434.8
|
1.0
|
Operating
costs
|
(7,309.7)
|
(0.4)
|
(13,952.6)
|
(4.7)
|
Recurring Operating
costs*
|
(7,208.5)
|
(1.8)
|
(14,364.9)
|
(1.9)
|
EBITDA
|
3,200.3
|
3.7
|
6,988.8
|
13.7
|
EBITDA Margin
%
|
30.5%
|
0.9 p.p.
|
33.4%
|
3.8 p.p.
|
Recurring
EBITDA*
|
3,301.5
|
7.0
|
6,576.5
|
7.0
|
Recurring EBITDA Margin %*
|
31.4%
|
1.8
p.p.
|
31.4%
|
1.8
p.p.
|
Net income
|
699.5
|
(23.2)
|
1,917.7
|
42.3
|
|
|
|
|
|
Number of accesses
(thousand)
|
97,058
|
(9.1)
|
97,058
|
(9.1)
|
Mobile
accesses
|
73,304
|
(11.3)
|
73,304
|
(11.3)
|
Fixed
accesses
|
23,754
|
(1.5)
|
23,754
|
(1.5)
|
(*) Adjusted by the
provision for organizational restructure in 2Q16 in the amount of
R$ 101.2 million and by towers sale in 1Q16 in the amount of R$
513.5 million.
|
Leadership in the postpaid segment, with continued growth
(+6.9% y-o-y in 2Q16), while the share of net additions came to
37.0% until May 2016. Postpaid market
share stood at 42.3% in May (+0.7 p.p. y-o-y).
Mobile ARPU recorded y-o-y growth of 15.9% in 2Q16,
fueled by rationality, higher postpaid mix and growth in Data ARPU
(+40.0% y-o-y), which corresponded to 55.7% of total ARPU.
Broadband accesses totaled 7.2 million in 2Q16 (+2.4%
y-o-y), with FTTx connections accounting for 55.3% of the base,
with 10.0% growth y-o-y. Broadband ARPU increased by 7.4% y-o-y in
2Q16.
Pay TV accesses came to 1.8 million in 2Q16, 1.3% down
y-o-y, while Pay TV ARPU increased 12.3%, reflecting the
Company's strategy of focusing on higher-value customers.
Net operating services revenue grew 1.6% in 2Q16 over
2Q15 (+3.9% y-o-y excluding regulatory effects), accelerating
growth in relation to the 1Q16.
Mobile service revenue acceleration to 2.6% y-o-y in 2Q16
(vs 0.4% y-o-y in 1Q16). Excluding the regulatory impact in 2016,
this line increased 4.7% over 2Q15. Data and VAS revenue
posted increased growth of 24.0% y-o-y in 2Q16.
Net fixed revenue remained stable in 2Q16 over 2Q15
impacted by regulatory effects. Excluding the reduction in fixed to
mobile (VC) and local/national long-distance fixed interconnection
(TU-RL/TU-RIU), this increase was 2.8%. Ultrabroadband and TV
revenues continued to post strong growth of 19.9% and 13.9% y-o-y,
respectively in 2Q16.
Operating costs fell 0.4% y-o-y in 2Q16. Excluding the
effect from the provision for corporate restructuring, this
reduction was 1.8%, reflecting the capturing of synergies and
execution of efficiency initiatives.
Recurring EBITDA increased by 7.0% y-o-y, to R$3.3 billion, with EBITDA margin of 31.4%
(+1.8 p.p. y-o-y), fueled by the capture of synergies and
efficiency initiatives.
Net income of R$1,917.7
million in the 1H16, 42.3% up on 1H15.
Second-quarter investments amounted to R$1.8 billion, accounting for 16.8% of net
operating revenue in 2Q16. Recurring EBITDA-Capex grew by
49.7% over 2Q15, with a strong expansion in FCF (+59% y-o-y).
Success in the execution of synergies guarantee capture
of 55% of NPV of best case scenario. Capturing of synergies
above estimates and additional opportunities identified during the
integration process point to an enhanced trending NPV of
R$ 25 billion.
TELEFONICA BRASIL – Investor Relations
Amos Genish
David Melcon
Luis Plaster
Maria Tereza David
+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
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/2q16-results-telefonica-brasil-sa-300304429.html
SOURCE Telefonica Brasil S.A.