4Q10 and 2010 Results: VIVO Participacoes S.A.

SAO PAULO, Brazil, Feb. 24, 2011 /PRNewswire/ -- VIVO Participacoes S.A. (VIVO) (Bovespa: VIVO3 [ON = Common Shares] / VIVO4 [PN = Preferred Shares]; NYSE: VIV), announced its consolidated results for the fourth quarter 2010 (4Q10). Vivo recorded in the fourth quarter its highest growth of revenues and EBITDA in the year, resulting in a record profit in its history. In the year-to-date, profit increased by 116% to R$ 1.9 billion.

Vivo's customer base totaled 60,293 thousand accesses (16.5% annual growth), with 8,548 thousand new accesses in the year (33.3% in the postpaid segment);

Vivo's postpaid customer base recorded annual growth of 29.1%;

Postpaid Market share of 35.24% (annual increase of 3 p.p.);

Market Share of 29.7%, flat in the yoy comparison;

Annual growth of 12.5% in the Net Service Revenue in 4Q10 (ARPU increased for the third consecutive quarter). Increase in 2010 recorded 9.9%;

Accelerated annual growth in outgoing voice, recording 12.3% in 4Q10;

Annual growth of 48.0% in Data and VAS Revenue (which accounts for 20.7% of the net service revenue). Mobile internet revenue grew 65.4%;

EBITDA Margin of 34.5% in the quarter (+3.1 p.p. yoy) and 32.2% in the year-to-date (+0.8 p.p. yoy);

EBITDA increased by 20.9% over 4Q09. Increase of 11.6% in 2010;

Net profit of R$ 864.2 million in 4Q10, and of R$ 1,893.8 in the year-to-date, with growth of 115.7% over 2009;

Proposed dividends of R$ 2,290.8 million, representing 127% of the 2010 Net Profit (excluding legal reserve);

Cash generation after investments recorded R$ 2,898.7 million in the quarter (63.7% higher than in 2009);

Net debt in 4Q10 in the amount of R$ 1,743.5 million (54.4% lower than in 4Q09).

SOURCE VIVO Participacoes S.A.

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