Oi (OIBR3) reported a net loss of R$2.7 billion in the first quarter of 2024 (1Q24), more than doubling net losses compared to the same period last year, the telephone company reported this Wednesday night. fair (8)
Earnings before interest, taxes, depreciation and amortization (EBITDA) were negative at R$204 million in 1Q24.
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According to the company, routine EBITDA performance was mainly the result of the accelerated fall in revenues from non-core services, in particular due to the dynamics of services based on copper technology, given the current regulatory limitations for managing their profitability, and the stabilization of fiber growth throughout 2023, impacted by the macro and competitive scenario, in addition to the annual evolution in fiber infrastructure costs.
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The Ebitda margin reached 10.9% between January and March this year, down 18 pp compared to the margin recorded in 1Q23.
Hi (OIBR3): results
Net revenue totaled R$2.2 billion in the first quarter of this year, a loss of 12.9% compared to the same stage in 2023.
The company explains that “depreciation and amortization expenses totaled R$238 million in 1Q24, showing a drop of 25.3% year on year and 57.5% quarter on quarter. The A/A drop resulted from the impairment of assets associated with the non-core operation in 4Q22 and 4Q23, despite the new leasing of towers for fixed line concession services, started in 3Q23, after the completion of the sale of these assets”.
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The net financial result was negative at R$2.4 billion in the first quarter of 2024, compared to financial losses of R$1.1 billion in the same stage of 2023.
Operating cash flow ended 1Q24 with a consumption of R$341 million. The positive result of efficiency actions in Capex partially offset the performance of routine EBITDA, which was impacted in particular by consumption to maintain the legacy operation, in addition to expenses associated with the growth of the fiber operation.
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