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    VIVT3   BRVIVTACNOR0

TELEFÔNICA BRASIL S.A.

(VIVT3)
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Telefônica Brasil S A : Results Presentation 2Q21

07/27/2021 | 05:43pm EDT

R E S U LT S

2Q21

Telefônica Brasil S.A.

Investor Relations

July 28th, 2021

DISCLAIMER

This presentation may contain forward-looking statements concerning prospects and objectives regarding growth of the subscriber base, a breakdown of the various services to be offered and their respective results

Our actual results may differ materially from those contained in such forward-looking statements, due to a variety of factors, including Brazilian political and economic factors, the development of competitive technologies, access to the capital required to achieve those results, and the emergence of strong competition in the markets in which we operate

The exclusive purpose of such statements is to indicate how we intend to expand our business and they should therefore not be regarded as guarantees of future performance

2

REVENUE ACCELERATION DRIVEN BY POSITIVE EVOLUTION OF MOBILE AND FIBER ACCESSES, COMBINED WITH NET PROFIT GROWING 20.9%

97 million total accesses

47mn

4.0mn

Mobile Postpaid

Fiber

Accesses

Homes Connected

Largest total mobile

+41.3% YoY,

customer base since 2015

with 300k net adds in Q2

Customer Base

Growth

Profitability

EBITDA Margin:

R$

39.7%

R$

4.2bn

1.3bn

Recurring

Net Profit

EBITDA² 2Q21

2Q21

+3.0% YoY

+20.9% YoY

+3.2% +3.1%

Total Revenue

Mobile Service

Growth

Revenue Growth

Core¹ revenues

+2.2% Postpaid YoY,

Revenue

growing +8.2% YoY

+8.0% Prepaid YoY

and fiber +49.7% YoY

Generation

Shareholder

Remuneration

R$

1.3bn

R$

2.1bn

of Interest on Capital

extraordinary

declared in 1H21

Tax Gain4

dividend yield of 7.7%3

that we estimate will translate

into an incremental source of

cash in the next 12 months

1

- Core Revenues include Total Revenues ex-Fixed Voice, xDSL and DTH.

3

- Considers the remuneration of preferred shares before the unification of share classes on

3

2

- Positive net effect of R$563 million, corresponding to extraordinary tax matters (R$1,549 million referring to the

November 23rd, 2020.

decision of the Supreme Court on the right to exclude ICMS from the basis of PIS/COFINS contributions and an

4

- Positive effect due to the Supreme Court decision to deduct ICMS from the basis of

expense of R$415 million of tax contingencies) and a regulatory contingencies expense of R$571 million.

calculation of PIS/COFINS contributions

CORE REVENUES CONTINUE AT FULL SPEED, GROWING 8.2% YOY IN 2Q21, AND REPRESENT 89% OF VIVO'S TOTAL BUSINESS

Core Businesses

Mobile

Handsets

FTTx

IPTV

Digital

Data

Services

and ICT

Non-Core Businesses

Fixed ADSL DTH

Voice

Total Revenues¹

R$ million, %

10,317 10,649 +3.2%

84.7% 88.8% +8.2%

15.3% 11.2% -24.4%

2Q20 2Q21

Core Businesses

Non-Core Businesses

Revenues from Core Businesses

R$ million

8,734

9,453

+8.2%

2,116

2,462

+16.4%

6,618 6,990 +5.6%

2Q20 2Q21

Core Business Revenue Growth YoY

8.2%

3.2% 4.7%

4Q20

1Q21

2Q21

1 - Mobile Revenues: +5.6% YoY, Fixed Revenues: -1.1% .

4 2 - Includes FTTH, FTTC, IPTV, Data & ICT, Wholesale Revenues and others. 3 - Mobile Revenues includes Handset Sales.

DEMAND FOR PREMIUM CONNECTIVITY AND INCREASED CUSTOMER ACTIVATION IMPROVING MOBILE SERVICE REVENUES, WITH OPTIMISTIC TRENDS FOR THE NEXT QUARTERS

Mobile Revenues

R$ million

6,618

6,990

+5.6%

550

373

1,133

1,224

+8.0%

Handset Sales

Prepaid

Postpaid¹

Mobile service revenues growth YoY

3.1%

Continued trend of

2.1%

mobile service revenues

0.2%

acceleration with

-1.5%

-1.0%

positive expectations for

economic growth and

customer activity in 2H21

2Q20

3Q20

4Q20

1Q21

2Q21

The acquisition of Oi's Mobile Assets

Relevant regulatory and anti-trust approvals are advancing according to plan

2Q202Q21

Expansion in regions with lower market- share, leading to efficiency gains through better network usage

OpEx and CapEx synergies

Improvement of mobile network quality nationwide and overall customer experience

More sustainable environment for investments in infrastructure and innovation

5 1 - Postpaid revenue including M2M, dongles, wholesale and others.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Telefônica Brasil SA published this content on 27 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2021 21:42:07 UTC.


© Publicnow 2021
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Sales 2021 43 854 M 8 216 M 8 216 M
Net income 2021 5 335 M 1 000 M 1 000 M
Net Debt 2021 3 372 M 632 M 632 M
P/E ratio 2021 13,6x
Yield 2021 6,68%
Capitalization 72 672 M 13 598 M 13 615 M
EV / Sales 2021 1,73x
EV / Sales 2022 1,63x
Nbr of Employees 32 759
Free-Float 55,1%
Chart TELEFÔNICA BRASIL S.A.
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Telefônica Brasil S.A. Technical Analysis Chart | VIVT3 | BRVIVTACNOR0 | MarketScreener
Technical analysis trends TELEFÔNICA BRASIL S.A.
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 12
Last Close Price 43,13 BRL
Average target price 58,49 BRL
Spread / Average Target 35,6%
EPS Revisions
Managers and Directors
Christian Mauad Gebara Chief Executive Officer & Director
David Melcon Sanchez-Friera Chief Financial & Investor Relations Officer
Eduardo Navarro de Carvalho Chairman
Francisco Javier de Paz Mancho Director
Luiz Fernando Furlán Director
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