Telesp: 2Q net income up 30% at BRL1.15bn

28 Jul 2011

Brazilian telecoms operator Telecomunicacoes de Sao Paulo (Telesp), reported second-quarter net profits of BRL1.15 billion (USD751 million), up 30% year-on-year, driven by a rise in revenue which climbed to BRL8.23 billion in 2Q11, from BRL7.7 billion in the same period a year ago. The results include the mobile operations of Vivo Participacoes, both of which are controlled by Telefonica of Spain; the parent has unified the two units’ operations into a single company – Telesp. Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 9.1% year-on-year to BRL3.06 billion. EBITDA margin reached 37.2% in the second quarter, up from 36.4% a year earlier. Telesp said it invested BRL1.85 billion in its fixed and mobile operations in the second quarter, compared to BRL950 million in 2Q10.

Brazil, Telefonica Brasil (Vivo)