Vivo reports 1Q09 results of subsidiary Telemig Celular

8 May 2009

Brazilian mobile operator Telemig Celular Participacoes, which is 58.9%-owned by Vivo Participacoes, today reported its consolidated results for the first quarter of 2009. The cellco posted net service revenue of BRL366.3 million (USD173.5 million) in the January-March period, an increase of 12.8% over 1Q08, helped by sustained growth of data and VAS revenue, which increased 34.7% year-on-year and which represented 10.2% of the net service revenue in 1Q09. Blended monthly ARPU was BRL26.2 in the quarter, 4.4% down from the 1Q08, partly the result of an increased proportion of new customers with lower income generation potential. Telemig Celular said EBITDA reached BRL106.3 million and the EBITDA margin was 26.6%. Net profit reached BRL25.3 million in the quarter in which the cellco added 52,000 net new additions to end March with 4.678 million customers – up 17.4% year-on-year.

Brazil, Telemig Celular