Telefonica Brasil S.A. (VIV) Q1 2023 Earnings Call Transcript

For the period ending March 31, 2023

May 10, 2023 9:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and Gentlemen, welcome to Vivo First Quarter 2023 Earnings Call. This conference is being recorded, and a replay will be available at the company's website at ri.teleconica.com.br. The presentation will also be available for download. This call is also available in Portuguese to access, [Operator Instructions].

Before proceeding, we would like to clarify that any statements that may be made during this 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, depends 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 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. Joao Pedro Carneiro, IR Director.

Now I will turn the conference over to Mr. Joao Pedro Carneiro, Investor Relations Director of Vivo. Please, Mr. Carneiro, you may begin your conference.

Joao Pedro Carneiro

Good morning, everyone, and welcome to Telefonica Brasil's conference call to present the first quarter 2023 results. The call will start with our CEO, Christian Gebara, commenting Vivo's financial and operating highlights, followed by an update on the progress of our B2B and B2C digital ecosystems and ESG initiatives. Then our CFO, David Melcon, will go through our cost and CapEx evolution, net income, shareholder remuneration and free cash flow generation.

I now hand it over to Christian.

Christian Gebara

Thank you, Joao. Good morning, and thank you for joining our earnings call. I start representing the highlights of a very strong first quarter for Vivo, a period when we reached our highest total revenue year-over-year growth in over a decade, expanding top line by 12.1%, driven by an expansion of 15.9% of our mobile service revenue and by further improvement of our fixed business. This of the charge performance was a result of yet another positive quarter in operating terms, with mobile postpaid access growing 15.4% on an early basis, while our FTTH expanded base expanded 16.8%.