1Q11 Results: VIVO Participacoes S.A.

News provided by

VIVO Participacoes S.A.

May 12, 2011, 08:01 ET

SAO PAULO, May 12, 2011 /PRNewswire/ -- VIVO Participacoes S.A. (VIVO) (Bovespa: VIVO3 [ON = Common Shares] / VIVO4 [PN = Preferred Shares]; NYSE: VIV), announces its consolidated results for the first quarter 2011 (1Q11). Vivo has continued to record positive results this quarter, with increased growth of revenues and EBITDA. The profit, of R$ 710.2 million, is 270% higher than in the same period of last year.

   R$ million

1Q11

4Q10

1Q10





Net Revenue

4,812.3

4,863.0

4,233.2

Total Operating Costs

(3,161.0)

(3,185.3)

(2,959.5)

EBITDA

1,651.3

1,677.7

1,273.7

EBITDA Margin (%)

34.3%

34.5%

30.1%

Net Result

710.2

864.2

191.9





Number of accesses (thousand)

62,061

60,293

53,949

Market share

29.48%

29.71%

30.12%

Net Additions (thousand)

1,768

2,578

2,205

Vivo's customer base totaled 62,061 thousand accesses in March (15% annual growth), (38.7% of the net additions in the quarter were in the postpaid segment);

Improved client mix. The postpaid customer base recorded annual growth of 26.7%;

Postpaid market share of 35.5% (annual increase of 2 p.p) and data market share of 41.7% (+8.1 p.p.yoy);

Market share of 29,5% in the period;

Annual growth of 14.7% in the Net Service Revenue in 1Q11;

Annual growth of 9% in outgoing voice service revenues and of 8% in the incoming voice service revenues;

Growth of 43.0% in Data and VAS Revenue in the year-over-year comparison (which accounts for 21.8% of the net service revenue). Mobile internet revenue grew 45,3%;

EBITDA increased by 29.6% over 1Q10;

EBITDA Margin of 34.5% in the quarter (+4.2 p.p. yoy);

Net profit of R$ 710.2 million in 1Q11, with growth of 270% over 1Q10;

Operating cash generation recorded R$ 826 million in the quarter (annual growth of 110.2%);

Net debt in 1Q11 in the amount of R$ 1,599.0 million (60% lower than in 1Q10). Current rating of "brAAA" by "Standard & Poor's".

VIVO – Investor Relations
Cristiane Barretto Sales
Carlos Raimar Schoeninger
Luis Carlos Plaster

Av Chucri Zaidan, 860 – Morumbi – SP – 04583-110
Telephone: +55 11 7420-1172
e-mail: [email protected]

To download the complete version of the Company's earnings release, please visit our website: www.vivo.com.br/ri.

SOURCE VIVO Participacoes S.A.

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