Q2 2024 Oi SA - em Recuperacao Judicial Earnings Call (English, Portuguese) Transcript
Key Points
- Oi SA (OIBZQ) achieved a 70% reduction in financial debt through a successful restructuring process.
- The company issued new debt instruments, providing liquidity for future investments.
- Oi SA (OIBZQ) plans to focus on B2B operations, targeting corporate clients with integrated digital solutions.
- The company reported a significant reduction in operating expenses, with a 4.3% year-on-year decrease.
- Oi SA (OIBZQ) saw growth in net adds and homes connected for its fiber services, indicating positive customer acquisition trends.
- Revenue dropped by 13% year-on-year, primarily due to a decline in demand for legacy services.
- The company experienced a one-off impact from floods in the state of (inaudible), affecting fiber revenue growth.
- Oi SA (OIBZQ) continues to face challenges with cash flow, impacted by legacy operations.
- The company’s total revenue from Oi Solucoes fell by around 23% year-on-year.
- Despite restructuring efforts, the company still has significant debt obligations and ongoing financial challenges.
(spoken in foreign language) today to look at the second quarter 2024. (Operator Instructions) We'd like to remind you that this video conference is being recorded and will be made available later on on the company's Investor Relations website.
(Operator Instructions) I would like to turn the floor over to Mr. Mateus Bandeira, CEO. Mr. Mateus Bandeira, please?
Good morning, everyone. Thank you for joining our conference call to discuss the second quarter 2024 results. I have got the executives with me here. Cristiane Sales, our CFO; Rogerio Takayanagi, our Chief Strategy and Transformation Officer; and (inaudible), our Chief Legal Officer.
We recently made extremely important progress in the execution of the reorganization plan. and in our pursuit of the company's long-term sustainability, and that was through the conclusion of the process of restructuring Oi's financial debt and with the issuance of new bonds.
Therefore, we will dedicate these first
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