Q2 2024 Telefonica Brasil SA Earnings Call Transcript
Key Points
- Total revenues increased by 7.4%, driven by an 8.8% rise in mobile service revenues.
- EBITDA expanded by 7.3% year-over-year, with operating cash flow reaching BRL6.5 billion.
- Postpaid access grew by 7.2%, and homes connected with FTTH increased by 12.7%.
- Net income expanded by 8.2% year-over-year, enhancing profitability.
- Vivo's B2B digital services and B2C new businesses represented 9.9% of total revenues, up 1.2 percentage points year-over-year.
- OpEx growth was driven by strong commercial performance and volatility in other revenues and expenses.
- Reduced sales of real estate and network assets, as well as lower tax recoveries, impacted year-over-year comparisons.
- The migration from concession to authorization is still pending approval, with no specific date for completion.
- The competitive mobile market presents challenges with new offerings from regional players.
- The company faces exposure to FX depreciation, particularly affecting handset costs and CapEx.
Good morning, ladies and gentlemen. Welcome to Vivo's second-quarter 2024 earnings call. This conference is being recorded, and the replay will be available at the company's website at ri.telefonica.com.br. (Operator Instructions)
Before proceeding, we would like to clarify that any statements that may be made during this conference call regarding the company's business prospects, operational and financial projections and goals are the beliefs and assumptions of Vivo's Executive Board and the current information available to the company. These statements may involve risks and uncertainties as they relate to future events and therefore depend on circumstances that may or may not occur. Investors should be aware of events related to the macroeconomic scenario, the industry and other factors that could cause results to differ materially from those expressed in the respective forward-looking statements.
Present at this conference, we have Mr. Christian Gebara, CEO of the company; Mr. David Melcon, CFO and Investor Relations Officer; and Mr. João Pedro Soares Carneiro, IR Director.
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