VIVO - Apresentation of 2nd Quarter 2009 Results

20

description

VIVO - Apresentation of 2nd Quarter 2009 Results

Transcript of VIVO - Apresentation of 2nd Quarter 2009 Results

Page 1: VIVO - Apresentation of 2nd Quarter 2009 Results
Page 2: VIVO - Apresentation of 2nd Quarter 2009 Results

RESULTS2Q09

Vivo Participações S.A.July 29 2009July 29, 2009

Page 3: VIVO - Apresentation of 2nd Quarter 2009 Results

HIGHLIGHTSR$ billion

2Q082Q09

Net Service Revenue 3.43.6

Δ %

7.1%

Expenses

Ebitda

Ebitda Margin

(2.9)

0.8

22 2%

(2.7)

1.2

30 4%

-7.2%

42.3%

8 2 p pEbitda Margin

Ebit

Net Results* – R$ million

22.2%

0.1

(63.9)

30.4%

0.4

172.4

8.2 p.p.

258.0%

n.d.

* Brazilian Corporate Law.

Page 4: VIVO - Apresentation of 2nd Quarter 2009 Results

TELEMIG The operation wasTELEMIG The operation wasapproved at the General Shareholders’ Meeting of

June 27th.

Next Steps

Jul 29 Beginning of the withdrawal right period;Aug 28 Last day for exercising the withdrawal right;

Last da for trading Telemig Cel lar and Telemig Cel larSep 04 Last day for trading Telemig Celular and Telemig CelularParticipações shares;

Sep 08 Beginning of the payments to the transaction dissidents;Sep 08 Beginning of the shares trading under Vivo's ticker;

Page 5: VIVO - Apresentation of 2nd Quarter 2009 Results

Operational Performance

Page 6: VIVO - Apresentation of 2nd Quarter 2009 Results

COMMERCIAL PERFORMANCEthousand

Nationwide market leader

Market Share: 29.3% in Brazil

+ 6,384

GSM + WCDMA: 77% of our customer baseCUSTOMERS

46,81945,641

+ 1,178 RECHARGE POINTS

7.7458.794 9.044

40,435,

487

541 539

32.690 36.847 37.775

2Q08 1Q09 2Q09 2Q08 1Q09 2Q09

Pre PaidPost Paid

Page 7: VIVO - Apresentation of 2nd Quarter 2009 Results

SAC BlendedSAC Blended

- 14.4%

- 3.5%

25%

23%

24%

86 83

97

26% 28%

36%

24%

49% 49% 40%

M j ffi i i 2Q08 1Q09 2Q09

Subsidy Comissions Advertising

Major efficiency in

subscriber acquisition cost.

Page 8: VIVO - Apresentation of 2nd Quarter 2009 Results

ARPU TREND

- 2.6%

- 8.7%

MAIN CAMPAIGNS26.3

28.827.0

12,6 11,5 10,9

16,2 15,5 15,4

2Q08 1Q09 2Q09

Outgoing IncomingOutgoing Incoming

Page 9: VIVO - Apresentation of 2nd Quarter 2009 Results

MOU AND TRAFFIC TRENDS

MOU VOICE TRAFFIC

3.9%

- 14.9%

+ 5.7%

- 0.5% Million of minutes

8077

94

11,02211,080 10 42732

28 27 3.727 3.835 3.787

10,427

6249 53 7.353 6.592 7.235

2Q08 1Q09 2Q09

OutgoingIncoming

2Q08 1Q09 2Q09

OutgoingIncomingIncoming Incoming

Page 10: VIVO - Apresentation of 2nd Quarter 2009 Results

Financial Performance

Page 11: VIVO - Apresentation of 2nd Quarter 2009 Results

NET SERVICE Data + VAS Revenue

REVENUER$ million

12.6% of Net Service Revenue

30% YoY growth

- 1.1% + 7.1%

DATA AND VAS REVENUE

1 5261.668 1.679

3,3903,670

3,630+ 3.3%

+ 29.9%

1.447 1.518 1.4631.526

232 225352

443 457

66 41 31

352443 457

123 165 190

176

66 41 31

2Q08 1Q09 2Q09

Network UsageOthers

53 46 42

2Q08 1Q09 2Q09

Vivo InternetSMS + MMSg

Access and UsageData and VAS Others

Page 12: VIVO - Apresentation of 2nd Quarter 2009 Results

OPERATING EXPENSES*R$ million

851872888

Service Rendered

604

851

613451

Goods Sold

909

162

764

137

899

General and

Selling Expenses

197

176

211

162

214H.R.

Administrative

184229230

Fistel, Fust, Funtel

2Q09 1Q09 2Q08

* Excluding depreciation.

Page 13: VIVO - Apresentation of 2nd Quarter 2009 Results

EBITDA AND MARGINR$ million

BALANCE BETWEEN SALES AND PROFITABILITY

Service Revenue YoY 7 1%

29,9% 30.4%*

Service Revenue YoY 7.1%

Costs YoY 7.2%

Ebitda YoY 42.3%

+ 8.2 p.p.

22.2%

842 1.204 1.198

842

2Q08 1Q09 2Q09EBITDA

* Including the extraordinary effect of ICMS reversion of R$47,5 million.

EBITDA Margin

Page 14: VIVO - Apresentation of 2nd Quarter 2009 Results

CASH FLOW AND EBITR$ million

AND EBIT

CASH FLOW EBIT

1.010,8

399,0 375,9 78,6 2Q08

1Q09 2Q09

105,0

2Q08 1Q09 2Q09(1,147.1)

Page 15: VIVO - Apresentation of 2nd Quarter 2009 Results

NET RESULTSR$ million

172,4

123,5

1Q09

2Q08

2Q09

(63,9)

Page 16: VIVO - Apresentation of 2nd Quarter 2009 Results

FINANCIAL RESULT,,GROSS DEBT AND NET DEBTR$ million

NET DEBTGROSS DEBTFINANCIAL RESULT NET DEBTGROSS DEBTFINANCIAL RESULT

2Q08 1Q09 2Q097 713 1

- 15.6% + 12.9%

- 15.9% + 31.3%

(105,6) (110 4)

2Q08 1Q09 2Q09

3.574,3

5.579,5 4.692,6

62%

61%72%

5,764.8

7,713.16,511.1

( , )(149,1)

(110,4)

38% 39%28%

62% 72%

2Q08 1Q09 2Q092Q08 1Q09 2Q09

Short Term Long Term

Page 17: VIVO - Apresentation of 2nd Quarter 2009 Results

CAPEX% Capex/Net Revenue

1 558 6

R$ million

41,1%

1,558.6

13,5% 15,4%

606.8541.3

Investments in capacity andimprovement of GSM and WCDMA network

R$ million 2Q08 1Q09 2Q09Network 251.3 375.9 406.4Technology 44.2 53.7 73.1Li 1 122 9Licenses 1,122.9 - -Others 140.2 111.7 127.3

Page 18: VIVO - Apresentation of 2nd Quarter 2009 Results
Page 19: VIVO - Apresentation of 2nd Quarter 2009 Results

DISCLOSURE

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 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 g gperformance.

Our actual results may differ materially from those y ycontained 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 technologies, access to the capital required to achieve those results, and the emergence of strong competition in the markets in which we operate.

Page 20: VIVO - Apresentation of 2nd Quarter 2009 Results