VIV FY 2021 Earnings Report — Telefônica Brasil S.A. Revenue & Financial Results | Market Cap Arena

Telefônica Brasil S.A.VIV

FY 2021 Earnings

Reported February 24, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$8.9B	—	—	—	—
Op. Income	$1.4B	—	—	—	—
Gross Margin	43.7%	—	—	—	—
Net Margin	14.2%	—	—	—	—
EPS (Diluted)	$0.75	—	—	—	—
Free Cash Flow	$1.8B	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$8.9B
Cost of Revenue	$5.0B
GROSS PROFIT	$3.9B
R&D Expenses	$0
Selling & Marketing	$1.2B
General & Administrative	$895M
SG&A Expenses	$2.1B
Other Expenses	$367M
Operating Expenses	$2.5B
Cost & Expenses	$7.4B
OPERATING INCOME	$1.4B
Interest Income	$86M
Interest Expense	$186M
Other Income/Expenses	-$227M
INCOME BEFORE TAX	$1.2B
Income Tax Expense	-$54M
Net Income from Continuing Ops	$1.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.3B
D&A	$2.4B
EBIT	$1.2B
EBITDA	$3.7B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$8.9B
Cost of Revenue	$5.0B
GROSS PROFIT	$3.9B
R&D Expenses	$0
Selling & Marketing	$1.2B
General & Administrative	$895M
SG&A Expenses	$2.1B
Other Expenses	$367M
Operating Expenses	$2.5B
Cost & Expenses	$7.4B
OPERATING INCOME	$1.4B
Interest Income	$86M
Interest Expense	$186M
Other Income/Expenses	-$227M
INCOME BEFORE TAX	$1.2B
Income Tax Expense	-$54M
Net Income from Continuing Ops	$1.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.3B
D&A	$2.4B
EBIT	$1.2B
EBITDA	$3.7B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.3B
Depreciation & Amortization	$2.4B
Stock-Based Compensation	$4M
Deferred Income Tax	$215M
Other Non-Cash Items	-$23M
Change in Working Capital	-$237M
OPERATING CASH FLOW	$3.6B
Capital Expenditure	-$1.9B
Acquisitions (Net)	$153M
Purchases of Investments	-$153M
Sales/Maturities of Investments	$49M
Other Investing Activities	$186M
NET CASH FROM INVESTING	-$1.6B
Net Debt Issuance	-$786M
Common Stock Repurchased	-$100M
Common Dividends Paid	-$987M
Other Financing Activities	$8M
NET CASH FROM FINANCING	-$1.9B
FREE CASH FLOW	$1.8B
Net Change in Cash	$138M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$0
Net Receivables	$2.5B
Inventory	$129M
Other Current Assets	$94M
TOTAL CURRENT ASSETS	$4.2B
PP&E (Net)	$8.9B
Goodwill	$4.6B
Intangible Assets	$4.3B
Long-Term Investments	$79M
Tax Assets	$25M
Other Non-Current Assets	$1.1B
TOTAL NON-CURRENT ASSETS	$19.1B
TOTAL ASSETS	$23.3B
Account Payables	$1.4B
Short-Term Debt	$806M
Deferred Revenue	$122M
Other Current Liabilities	$1.4B
TOTAL CURRENT LIABILITIES	$4.5B
Long-Term Debt	$343M
Deferred Revenue NC	$31M
Deferred Tax Liabilities	$841M
Other Non-Current Liabilities	$1.8B
TOTAL NON-CURRENT LIABILITIES	$4.7B
TOTAL LIABILITIES	$9.2B
Common Stock	$12.8B
Additional Paid-In Capital	$0
Retained Earnings	$1.1B
Treasury Stock	-$122M
Accum. Other Comp. Income	$288M
Other Equity	$14M
TOTAL STOCKHOLDERS' EQUITY	$14.1B
Minority Interest	$16M
TOTAL EQUITY	$14.1B
TOTAL LIABILITIES & EQUITY	$23.3B
Total Debt	$3.4B
Net Debt	$2.1B