Oi (OIBR3) reduces losses by 12.7% in the third quarter, to R$ 2.83 billion


Swing season

Operating cash flow ended 3Q23 with a consumption of R$532 million, mainly impacted by the growing consumption of legacy services

Felipe Moreira

8 Nov 2023 8:13 pm

Operator Oi opened its second judicial recovery process just three months after leaving the first. Photo: Disclosure

Oi (OIBR3) recorded a net loss of R$2.830 billion in its balance sheet for the third quarter of 2023. Compared to the same period of the previous year, when the number was R$3.243 billion, there was a decrease of 12. 7%.

With regard to net revenue, the company reached R$2.422 billion between July and September, representing a drop of 12.6% compared to the same period in 2022.

Routine Ebitda (earnings before interest, taxes, depreciation and amortization), in turn, was negative at R$330 million, compared to a positive R$167 million in the third quarter of 2022.


According to Oi, Ebitda was impacted, “mainly (i) by the acceleration in the decline in revenue from legacy services, including DTH TV, without proportional compensation in efficiency, given the current limitations of the regulatory framework; and (ii) the growth in network rental costs, to support the growth of fiber operations, resulting from the operational model started in Jun-22”.

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Depreciation and amortization expenses totaled R$364 million in 3Q23, showing a drop of 67.0% on an annual basis.

The net financial result was negative at R$2.480 billion in the third quarter of 2023, an increase of 23.4% over the financial losses in the same stage of 2022.

Operating cash flow ended 3Q23 with a consumption of R$532 million, mainly impacted by the growing consumption of legacy services.


Investments totaled R$201 million in 3Q23, with core operations accounting for 76% of this total.

On September 30, 2023, the company’s net debt was R$22.709 billion, an increase of 23.9% compared to the same stage in 2022.

The company ended 3Q23 with consolidated cash of R$2.5 billion, a reduction of 2.2% on a quarterly basis.

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The article is in Portuguese

Tags: OIBR3 reduces losses quarter billion



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