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VIVO - Apresentation of 2nd Quarter 2008 Results

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Apresentation of 2nd Quarter 2008 Results
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Page 1: VIVO - Apresentation of 2nd Quarter 2008 Results
Page 2: VIVO - Apresentation of 2nd Quarter 2008 Results

Vivo Participações S/AJuly 30, 2008

Page 3: VIVO - Apresentation of 2nd Quarter 2008 Results

HIGHLIGHTSR$ billion

Vivo Consolidated

2Q08 2Q07 ∆% 2Q08 2Q07 ∆%

Service Revenue 3.0 2.6 15% 3.4 3.0 14%

Expenses (2.6) (2.4) 10% (2.9) (2.6) 12%

Ebitda 0.8 0.6 26% 0.9 0.7 16%

Ebitda Margin 23.4% 21.0% 2.4 p.p. 23.2% 22.6% 0.6 p.p.

Ebit 0.1 0.03 338% 0.1 0.1 36%

Page 4: VIVO - Apresentation of 2nd Quarter 2008 Results

AgendaOperating PerformanceFinancial Performance

Vivo Participações S/AJuly 30, 2008

Page 5: VIVO - Apresentation of 2nd Quarter 2008 Results

Mais de 8.800 pontos de vendas

412 mil pontos de recarga

Canais de distribuição

COMMERCIALPERFORMANCE

Nationwide market leader

Share of postpaid net additions leader: 36.6%

Share of net additions leader: 28.9%

Market Share: 30.4% in Brazil

GSM: more than 55% of our customer base

+ 2,125

+ 6,649

27,31831,002 32,690

6,468

7,307 7,745

2Q07 1Q08 2Q08

Prepaid Postpaid

RECHARGE POINTS

Thousand

thousand

40,43538,309

33,786

340412

30

4259

428

2Q07 1Q08 2Q08

Vivo Telemig

32%370

454 487

Page 6: VIVO - Apresentation of 2nd Quarter 2008 Results

SAC*

Grow by 36% YoYin the investments with focus on customer loyalty

56% 55%

49%

25% 26%

21% 25%

19%

24%

2Q07 1Q08 2Q08

Subsidy Comissions Advertising

- 2.3%

- 17.3%

104

88 86

* Blended SAC

Page 7: VIVO - Apresentation of 2nd Quarter 2008 Results

ARPU AND MOU TRENDS

ARPU MOU

16.216.316.1

13.8 13.2 12.6

2Q07 1Q08 2Q08

Outgoing Incoming

29.9

- 2.4%

- 3.7%

41 44

62

35 33

32

2Q07 1Q08 2Q08

Outgoing Incoming

76 77

9429.5 28.8

+ 22.1%

+ 23.7%

Page 8: VIVO - Apresentation of 2nd Quarter 2008 Results

Operating PerformanceFinancial Performance

Agenda

Vivo Participações S/AJuly 30, 2008

Page 9: VIVO - Apresentation of 2nd Quarter 2008 Results

AgendaDesempenho OperacionalFinancial Performance

Vivo Participações S/AJuly 30, 2008

Page 10: VIVO - Apresentation of 2nd Quarter 2008 Results

10% 9% 11%

40% 41%

43%

48% 50%

48%

2Q07 1Q08 2Q08

Others WAP + ZAP SMS

2,963

3,347 3,390

+ 1.3 %

+ 14.4 %

NET SERVICE REVENUE

R$ million

RECEITA DE DADOS

230

343 352

10.4% of net service revenue

52.7% YoY growth

Data and VAS Revenue

Data and VAS Revenue

+ 15.4 %

+ 1.0 %

- - - Excluding Telemig

Page 11: VIVO - Apresentation of 2nd Quarter 2008 Results

Operating costs under

strict control with focus on revenue growth

OPERATING COSTS*R$ million

*Excluding depreciation

155

198

764

575

723

182

198

188

735

534

801

184

197

176

909

604

967

176

Fistel, Fust, Funtel

H.R.

General and

Administrative

Selling Expenses

Good Solds

Services Rendered

2Q07 1Q08 2Q08

Page 12: VIVO - Apresentation of 2nd Quarter 2008 Results

R$ million

BALANCE BETWEEN SALES AND PROFITABILITY

Consolidated Vivo

Revenue YoY 14% 15%

Costs YoY 12% 10%

EBITDA YoY 16% 26%

EBITDA AND EBITDA MARGIN

634

961800

124

104

79

2Q07 1Q08* 2Q08

Vivo Telemig

21.0%

28.8%23.4%

36.6%29.7%

21.6%

* Excluding extraordinary effect of ICMS on Telemig of R$240 million

758

1,065

879

22.6%

28.9%

23.2%

Consolidated Margin

Page 13: VIVO - Apresentation of 2nd Quarter 2008 Results

R$ million

CASH FLOW EBIT

CASH FLOW AND EBIT

297.7

140.1

32.0

3.8

46.4

73.5

2Q07 1Q08 2Q08

Vivo Telemig

* Excluding extraordinary effect of ICMS on Telemig of R$240 million

105.5

344.1*

143.9

(278,1)

(588,9)

8.5

2Q07 1Q08 2Q08

Page 14: VIVO - Apresentation of 2nd Quarter 2008 Results

(65.0) (59.5)

256.2

2Q07 1Q08 2Q08

R$ million

NET RESULTS

Page 15: VIVO - Apresentation of 2nd Quarter 2008 Results

68%

32%

57%

43%

55%

45%

FINANCIAL RESULT, GROSS DEBT AND NET DEBTR$ miillion

2Q07 1Q08 2Q08

Short Term Long Term

4,967.1

3,859.8

5,764.8 3,574.3

2,227.1

2,988.1

2Q07 1Q08 2Q08

+ 16.1%

+ 49.4%

+ 60.5%

+ 19.6%

GROSS DEBT NET DEBT

(100.2)

(54.0)

(116.1)

FINANCIAL RESULT

68%

32% 45%

55%62%

38%

2Q07 1Q08 2Q08

Page 16: VIVO - Apresentation of 2nd Quarter 2008 Results

CAPEX

MAIN INVESTMENT PROJECTS

Increase in GSM NetworkCapacity and Quality

Payment of 3Glicenses

R$ million

1.122,9

304.8 138.4 200.3

44.2 53.4 42.6

140.2

106.8 87.8

2Q07 1Q08 2Q08Network TechnologyLicenses Others

% Capex/Net Revenue

360.5 268.8

1.558,6 *

7.3%10.7%

41.1%

Page 17: VIVO - Apresentation of 2nd Quarter 2008 Results

DISCLAIMER

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

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, thedevelopment 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.

Page 18: VIVO - Apresentation of 2nd Quarter 2008 Results

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