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MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  Telefônica Brasil S.A.    VIVT4   BRVIVTACNPR7

TELEFÔNICA BRASIL S.A.

(VIVT4)
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Telefônica Brasil S A : 02/19/2020 Minutes of the 180th of Meeting of the Fiscal Board

02/19/2020 | 05:23am EST

TELEFÔNICA BRASIL S.A.

Publicly-Held Company

CNPJ/MF n.º 02.558.157/0001-62

NIRE 35.3.0015881-4

MINUTES OF THE 180th MEETING OF THE FISCAL BOARD OF

TELEFÔNICA BRASIL S.A. HELD ON FEBRUARY 13, 2020

  1. DATE, TIME AND PLACE: On February 13, 2020, at 10:00 a.m., at the headquarters of Telefônica Brasil S.A. ("Company") located at Avenida Engenheiro Luiz Carlos Berrini, 1376, 32º floor, A Side, 4G+ room, Cidade Monções neighborhood, in the City of São Paulo, State of São Paulo.
  2. CALL AND ATTENDANCE: A call was made in accordance to the Company's Bylaws. All members of the Fiscal Board of the Company ("Fiscal Board") were present, representing the necessary quorum. Were also present, the Director of Accounting and Commissioning, Mr. João Orlando Lima Carneiro; the Accountant of the Company, Mr. Carlos Cesar Mazur; the Director of Investor Relations, Mr. Luis Carlos da Costa Plaster; the Manager of Investor Relations, Mr. João Pedro Xavier Esteves Soares Carneiro; the Manager of Corporate Affairs, Ms. Nathalia Pereira Leite, as Secretary of the Meeting, in addition to the representative of PricewaterhouseCoopers Auditores Independentes ("PwC"), Mr. Rodrigo Marcatti.
  3. EXPOSITIONS AND RESOLUTIONS: Having examined and debated the matters on the Agenda, the members of the Fiscal Board who attended the Meeting deliberated as described below:
  1. Financial Statements, together with the Independent Auditors' Report and the Annual
    Management Report related to the fiscal year ended December 31, 2019: Initially, Mr. João Orlando Lima Carneiro gave a presentation on the Financial Statements and Mr. Luis Carlos da Costa Plaster gave a presentation on the Annual Management Report. Subsequently, the representative of PwC, Mr. Rodrigo Marcatti, presented the work carried out by the independent auditors in the period, having submitted the final draft of the Independent Auditors' Report, without reservations, which will be signed, without changes to the final draft presented here, until the date of disclosure of the 2019 Financial Statements to the market. The Financial Statements for the fiscal year ended December 31, 2019 were analyzed by the Fiscal Board, as well as the Independent Auditors' Report and the Annual Management
    Report, being provided the necessary clarifications by the Company's representatives and by the independent auditors, PwC. After analyzing the documents and information presented, the Fiscal Board members issued a favorable opinion to the documents, according to which consider such documents and information are adequate and correct.

TELEFÔNICA BRASIL S.A.

Publicly-Held Company

CNPJ/MF n.º 02.558.157/0001-62

NIRE 35.3.0015881-4

MINUTES OF THE 180th MEETING OF THE FISCAL BOARD OF

TELEFÔNICA BRASIL S.A. HELD ON FEBRUARY 13, 2020

  1. Proposal for Capital Budget for the fiscal year ending December 31, 2020, including the Report on the Execution of the Capital Budget for 2019: Mr. João Orlando Lima Carneiro presented the Proposal for Capital Budget for the year ending December 31, 2020. The Proposal for Capital Budget for the fiscal year ending December 31, 2020 and the Report on the Execution of the Capital Budget for 2019 were analyzed by the Fiscal Board, being provided the necessary clarifications. After the analysis, the Fiscal Board members issued a favorable opinion to the documents, according to which consider such documents and information adequate and correct.
  2. Proposal for Income Allocation for the fiscal year ended December 31, 2019: Mr. João Orlando Lima Carneiro presented the Proposal for Income Allocation for the year ending December 31, 2019. The Proposal for Income Allocation for the fiscal year ended December 31, 2019 was analyzed by the Fiscal Board, being provided the necessary clarifications. After the analysis, the Fiscal Board members issued a favorable opinion to the document, according to which consider such document and information adequate and correct.

Finally, the Fiscal Board members informed that the opinion of the Fiscal Board on the matters presented will be issued on the date of the next Board of Directors' meeting and will be filed at the Company's headquarters.

4. CLOSING: No further business to be discussed the meeting was closed and these minutes drawn up. São Paulo, February 13, 2020. (signatures) Flávio Stamm; Cremênio Medola Netto; Charles Edwards Allen; and Nathalia Pereira Leite - Secretary of the Meeting.

I hereby certify that this is a faithful copy of the minutes of the 180th meeting of the Fiscal Board of Telefônica Brasil S.A., held on February 13, 2020, which was drawn-up in the proper book.

Nathalia Pereira Leite

Secretary of the Meeting

ANNEX

FISCAL BOARD OPINION

The members of the Fiscal Board of Telefônica Brasil S.A. ("Company" or "Telefônica Brasil"), in the exercise of their duties and legal responsibilities, as provided for in article 163 of the Brazilian Corporate Law, examined and analyzed the Company's Financial Statements, together with the Independent Auditors' Report and the Annual Management Report for the fiscal year ended December 31, 2019 ("Annual Financial Statements for 2019"), as well as the Proposal for Capital Budget for the fiscal year of 2020, including the Report on the Execution of the Capital Budget for 2019 and the Proposal for Income Allocation for the fiscal year of 2019 and, taking into account the information provided by the Board of Executive Officers of the Company and by PricewaterhouseCoopers Auditores Independentes, they are unanimously in favor of these documents, as they adequately reflect the Company's equity and financial positions in all material respects, and recommend the submission of such documents to the Company's Ordinary Shareholders' Meeting, pursuant to the Brazilian Corporate Law.

São Paulo, February 14, 2020.

Flavio Stamm

Cremênio Medola Netto

Charles Edwards Allen

Fiscal Board Member

Fiscal Board Member

Fiscal Board Member

(effective)

(effective)

(effective)

Disclaimer

Telefônica Brasil SA published this content on 19 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 February 2020 10:22:05 UTC


© Publicnow 2020
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Financials
Sales 2020 42 966 M 8 088 M 8 088 M
Net income 2020 4 828 M 909 M 909 M
Net Debt 2020 8 835 M 1 663 M 1 663 M
P/E ratio 2020 15,2x
Yield 2020 7,16%
Capitalization 75 461 M 14 142 M 14 204 M
EV / Sales 2020 1,96x
EV / Sales 2021 1,92x
Nbr of Employees 32 793
Free-Float 49,1%
Chart TELEFÔNICA BRASIL S.A.
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Telefônica Brasil S.A. Technical Analysis Chart | VIVT4 | BRVIVTACNPR7 | MarketScreener
Technical analysis trends TELEFÔNICA BRASIL S.A.
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 2
Average target price 59,00 BRL
Last Close Price 43,40 BRL
Spread / Highest target 42,9%
Spread / Average Target 35,9%
Spread / Lowest Target 29,0%
EPS Revisions
Managers
NameTitle
Christian Mauad Gebara Chief Executive Officer & Director
Eduardo Navarro de Carvalho Chairman
David Melcon Sanchez-Friera Chief Financial & Investor Relations Officer
Francisco Javier de Paz Mancho Director
Luiz Fernando Furlán Director
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