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