Telefônica Brasil – (B3: VIVT3 [Common Shares]; NYSE: VIV), announces its results for 1Q21.
Net revenue shows an inflection point and resumes growth in the quarter, driven by record revenues in fiber
Net Operating Revenues
Fixed Core Revenue
Recurring Total Costs
Recurring EBITDA Margin
Reported EBITDA Margin %
Capex | Ex- IFRS 16
Free Cash Flow after Lease Payments
Total Subscribers (thousand)
Mobile market share reached 33.1% in March 2021, maintaining undisputed leadership in the mobile business. Postpaid accesses grew 5.2% y-o-y and accounted for 57.7% of total mobile accesses, with a market share of 37.0% in March 2021.
Fiber-to-the-home broadband customers totaled 3,746 thousand (+41.2% y-o-y), posting accelerated additions of high-quality customers in 1Q21. FTTH Revenues increased 61.2% versus 1Q20, reaching the record of R$1,010 million.
Net revenues resume growth (+0.2% y-o-y), underlining the successful transformation of revenue profile. Core businesses represented 88% of total revenues with increasing relevance. Core fixed revenues continue to grow significantly (+17.2% y-o-y) while mobile revenues are showing solid recovery (+1.1% y-o-y).
Total Costs remained flat in 1Q21, despite the accelerated inflation, as Company’s efficient cost management compensated higher cost of goods and services sold.
Recurring EBITDA totaled R$4,455 million (+0.5% y-o-y) in 1Q21, with a recurring EBITDA margin of 41.1%.
Investments of R$1,943 million in 1Q21, focused on the expansion of the FTTH network and the capacity of the 4G and 4.5G networks.
Shareholder remuneration declared until April-21 reaches R$700 million, representing a dividend yield of 7.9%.
Free Cash Flow after Leasing payments reached R$2,199 million in 1Q21 (+3.7% y-o-y), reflecting efficient financial management.
Launch of Vivo Pay and Vida V, and partnerships with Dotz, CDF and Itaucard, strengthen Vivo’s positioning as a digital services hub.
TELEFÔNICA BRASIL – Investor Relations