Sao Paulo, Brazil--(Newsfile Corp. - February 23, 2026) - Telefônica Brasil (B3: VIVT3) (NYSE: VIV) announces its results for 4Q25 and 2025.
The Company has registered strong growth driven by consistent Revenue, EBITDA and Net Income evolution.
| R$ million | 4Q25 | 4Q24 | % YoY | 2025 | 2024 | % YoY | ||||||||||||
| Net Operating Revenue | 15,611 | 14,581 | 7.1 | 59,595 | 55,845 | 6.7 | ||||||||||||
| Mobile Services | 9,841 | 9,201 | 7.0 | 38,383 | 36,022 | 6.6 | ||||||||||||
| FTTH | 2,009 | 1,829 | 9.8 | 7,828 | 7,093 | 10.4 | ||||||||||||
| Corporate Data, ICT and Digital Services | 1,483 | 1,346 | 10.2 | 5,542 | 4,735 | 17.1 | ||||||||||||
| Handsets and Electronics | 1,337 | 1,177 | 13.7 | 3,946 | 3,730 | 5.8 | ||||||||||||
| Other Revenues¹ | 940 | 1,029 | (8.7 | ) | 3,896 | 4,265 | (8.7 | ) | ||||||||||
| Total Costs | (8,912 | ) | (8,383 | ) | 6.3 | (34,773 | ) | (32,965 | ) | 5.5 | ||||||||
| EBITDA | 6,699 | 6,199 | 8.1 | 24,822 | 22,880 | 8.5 | ||||||||||||
| EBITDA Margin | 42.9% | 42.5% | 0.4 p.p. | 41.7% | 41.0% | 0.7 p.p. | ||||||||||||
| EBITDA AL² | 5,277 | 4,831 | 9.2 | 19,395 | 17,796 | 9.0 | ||||||||||||
| EBITDA AL² Margin | 33.8% | 33.1% | 0.7 p.p. | 32.5% | 31.9% | 0.7 p.p. | ||||||||||||
| Net Income³ | 1,877 | 1,763 | 6.5 | 6,168 | 5,548 | 11.2 | ||||||||||||
| Earnings per Share (EPS)4 | 0.59 | 0.54 | 8.6 | 1.91 | 1.69 | 13.4 | ||||||||||||
| CAPEX ex-IFRS 165 | 2,359 | 2,456 | (4.0 | ) | 9,270 | 9,166 | 1.1 | |||||||||||
| CAPEX ex-IFRS 165/Net Revenue | 15.1% | 16.8% | (1.7) p.p. | 15.6% | 16.4% | (0.9) p.p. | ||||||||||||
| Operating Cash Flow (OpCF)6 | 4,340 | 3,742 | 16.0 | 15,552 | 13,714 | 13.4 | ||||||||||||
| OpCF6 Margin | 27.8% | 25.7% | 2.1 p.p. | 26.1% | 24.6% | 1.5 p.p. | ||||||||||||
| Operating Cash Flow AL (OpCF AL)7 | 2,918 | 2,374 | 22.9 | 10,124 | 8,629 | 17.3 | ||||||||||||
| OpCF AL7 Margin | 18.7% | 16.3% | 2.4 p.p. | 17.0% | 15.5% | 1.5 p.p. | ||||||||||||
| Free Cash Flow | 2,287 | 1,080 | 111.9 | 9,153 | 8,219 | 11.4 | ||||||||||||
| Total Subscribers (Thousand) | 116,716 | 116,050 | 0.6 | 116,716 | 116,050 | 0.6 |
1 - Other Revenues include Fixed Voice, xDSL, FTTC and IPTV. 2 - AL means After Leases. 3 - Net Income attributable to Telefônica Brasil. 4 - Earnings per Share (EPS) calculated based on net income attributable to Telefônica Brasil divided by the weighted average of outstanding shares in the period. EPS for 2025 was calculated considering the effects of the Split and Reverse Stock Split effective on April 15, 2025. 5 - Does not include amounts related to IFRS 16 effects, licenses and CyberCo acquisition. 6 - Operating Cash Flow is equivalent to EBITDA less Capex ex-IFRS 16, licenses and CyberCo acquisition. 7 - AL Operating Cash Flow is equivalent to EBITDA After Leases less Capex ex-IFRS 16, licenses and CyberCo acquisition.
Net revenue grew +7.1% YoY, driven by the solid performances of mobile postpaid (+9.0% YoY) and FTTH revenues (+9.8% YoY). Postpaid's performance is driven by its consistent customer base growth (+6.5% YoY), ending the quarter with 70.8 million accesses due to significant migrations and the acquisition of new customers. These factors, combined with annual price adjustments, contributed to a new record in mobile ARPU, which reached R$31.8, an increase of +5.8% YoY in the quarter.
Fixed Revenues increased by +5.4% YoY, reflecting the consistent growth of FTTH (+9.8% YoY) and Corporate Data, ICT and Digital Services (+10.2% YoY) revenues. Our FTTH network achieved 31.0 million homes passed (+6.4% YoY), connecting 7.8 million homes (+12.0% YoY).
EBITDA ex-Concession Migration Effects reached R$6,596.9 million, up +17.7% YoY, with a margin of 42.3%, while Reported EBITDA registered an increase of +8.1% YoY in the quarter, with a margin of 42.9%, up +0.4 p.p. YoY.
In 4Q25, Capex totaled R$2,359.3 million, a decrease of -4.0% YoY, representing 15.1% of revenues, a decline of -1.7 p.p. YoY. Investments were mainly directed to the strengthening of our 5G network, which is already present in 716 cities (+1.4x YoY), covering 67.7% of the Brazilian population, and expanding our fiber operation, accelerating connected households by +12.0% YoY.
Operating Cash Flow summed R$4,339.7 million, an evolution of +16.0% YoY, with a margin of 27.8% (+2.1 p.p. YoY) in relation to net revenue. Net income of the quarter reached R$1,876.9 million, growing +6.5% YoY.
The remuneration paid to shareholders amounted to R$6,376.5 million in 2025, +9.1% versus last year, with R$2,630.0 million related to interest on equity declared in the fiscal years 2024 and 2025, R$2,000.0 million to capital reduction and R$1,746.5 million to share buybacks, resulting in a payout of 103.4% over net income. For payments in 2026, the Company has already deliberated R$6,990.0 million, with R$4,000.0 million related to capital reduction. Once again, we reaffirm our commitment to distribute, between 2024 and 2026, at least 100% of the net income for each fiscal year.
TELEFÔNICA BRASIL - Investor Relations
ir.br@telefonica.com
To download the complete version of the Company's earnings release, please visit our website: https://ri.telefonica.com.br/en.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284879
