Telefônica Brasil reported strong operating performance for the fourth quarter of 2024, with net operating revenue growing 7.7% year-over-year to R$14,581 million. Mobile services revenue increased by 7.0% year-over-year, driven by a 9.1% rise in postpaid revenue. The postpaid customer base expanded by 7.6% year-over-year to 66.5 million, with postpaid ARPU (excluding M2M and dongles) increasing by 1.6% to R$52.1, while churn remained at a historically low 0.99%.
Fixed revenue grew by 8.0% year-over-year, supported by a 12.4% increase in Fiber-to-the-Home (FTTH) revenue and a 21.1% surge in Corporate Data, ICT, and Digital Services revenues. The FTTH network reached 29.1 million homes passed, up 11.2% year-over-year, with 7.0 million homes connected, a 12.7% increase. EBITDA expanded by 7.8% year-over-year to R$6,199 million, maintaining a margin of 42.5%.
For the full year 2024, net operating revenue reached R$55,845 million, a 7.2% increase year-over-year, and net income attributed to Telefônica Brasil grew by 10.3% to R$5,548 million, with EPS at R$3.38, up 11.3%. Capital expenditure (CapEx) for 2024 totaled R$9,166 million, a 2.3% increase year-over-year, representing 16.4% of revenues, a decrease of 0.8 percentage points year-over-year. The company's 5G network expanded to 504 cities, covering 61.3% of the Brazilian population.
Telefônica Brasil delivered on its shareholder remuneration guidance for 2024, distributing R$5,845 million, a 22.1% increase year-over-year, reflecting a payout of 105.3% of net income. The company reaffirmed its commitment to distribute at least 100% of net income for both 2025 and 2026. Additionally, a new share buyback program of up to R$1.75 billion was announced, set to be carried out until February 25, 2026, further demonstrating the company's focus on returning value to shareholders.
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