Oi posts Q1 net loss of BRL447m

8 May 2015

Brazilian telecoms operator Oi SA has reported net revenues of BRL7.040 billion (USD2.3 billion) for the first three months of 2015, a decrease of 0.9% from BRL7.101 billion in the year-ago period. The firm’s domestic business accounted for BRL6.841 billion of total turnover in Q1 2015 (down 0.5% year-on-year), with other international assets – most of which are classified as held-for-sale assets – contributing BRL199 million (a decrease of 11.4%, due to the discontinuation of the operations in Cabo Verde). EBITDA for the first three months of 2015 dropped 34.6% to BRL2.011 billion, while Oi’s consolidated net loss totalled BRL447 million, compared to net earnings of BRL228 million in 1Q14. The company reported a total of 73.577 million Brazilian revenue generating units (RGUs) at 31 March 2015, a decrease of 1.4% from 74.600 million a year earlier.

Brazil, Oi