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2Q14 Results: Telefonica Brasil S.A.

SAO PAULO, July 30, 2014 /PRNewswire/ -- Telefonica Brasil - (Bovespa: VIVT3 [ON = Common Shares] / VIVT4 [PN = Preferred Shares]; NYSE: VIV), announces its consolidated results for the second quarter of 2014. Telefonica Brasil resumes recurring EBITDA annual growth in 2Q14 with a strong performance of the mobile business and strict cost control.

R$ million

2Q14

2Q13

% YoY

Net Revenue

8,616.6

8,491.5

1.5

Operating Costs

(6,071.1)

(5,916.0)

2.6

EBITDA

2,545.5

2,575.5

(1.2)

EBITDA Margin (%)

29.5%

30.3%

(0.8)

Recurrent EBITDA Margin (%)

29.5%

29.4%

0.1

Net Result

1,992.6

914.2

118.0

Number of accesses (thousand)

94,901

91,131

4.1

Mobile accesses

79,357

76,200

4.1

Fixed accesses

15,544

14,931

4.1

Total accesses reached 94.9 million in the quarter (+4.1% y-o-y). Consistent leadership in higher revenue mobile segments, with acceleration in contract accesses growth, +26.5% y-o-y in 2Q14 with net additions reaching 1,257 thousand in the quarter.

Strong improvement in the customer mix, 33.0% of the accesses base in the contract segment, +5.8 p.p. over 2Q13, contributing for a 61% share of contract net additions in the quarter.

Mobile ARPU recorded annual growth of 2.3% in 2Q14, despite MTR reduction, fueled by the growth in Data ARPU, +15.4% in the same period.

Fixed voice accesses recorded quarterly growth of 98 thousand accesses in 2Q14, driven by net additions with FWT technology, which reached 168 thousand in the period.

FTTH accesses totaled 273 thousand in 2Q14, with acceleration of net additions in the period. FTTH footprint reached 2.9 million homes passed in the quarter. TV accesses grew 43 thousand accesses totaling 688 thousand subscribers.

Mobile service revenue recorded variation of +6.0% y-o-y. Excluding the effect of the MTR reduction, this figure came to +9.3% in 2Q14 over 2Q13. Fixed service revenue posted y-o-y variation of -5.4%. Excluding the VC and basic tariff reduction effects, this figure came to -2.4% versus 2Q13.

Data and VAS revenue already account for 36.4% of the Mobile Service Revenue, driven by the growth of the mobile internet revenue.

Second-quarter EBITDA totaled R$2.5 billion, with an EBITDA margin of 29.5% in the period.

TELEFONICA BRASIL – Investor Relations 
Paulo Cesar Teixeira  
Alberto Horcajo Aguirre 
Luis Carlos Plaster 
Maria Tereza Pelicano David

Av. Luis Carlos Berrini, 1376 – 28th floor – Cidade Moncoes – SP – 04571-936 
Phone: +55 11 3430-3687 / Email: [email protected]

To download the complete version of the Company's earnings release, please visit our website: http://www.telefonica.com.br/ir

SOURCE Telefônica Brasil S.A.

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