Oi 1H16 revenues drop 3.9% to BRL13.3bn

12 Aug 2016

Brazilian telecoms operator Oi has reported total net revenues of BRL13.279 billion (USD4.235 billion) for the six months ended 30 June 2016, down 3.9% year-on-year, attributing the weakened top-line to what it terms ‘macroeconomic deterioration’. EBITDA plummeted 18.1% on an annualised basis to BRL3.201 billion, while Oi reported a net loss of BRL2.300 billion for 1H16, compared to a BRL856 million deficit in the year-ago period. The telco’s net debt stood at BRL41.386 billion at end-June 2016, up 19.5% from BRL34.644 billion one year earlier.

In operational terms, Oi reported a total of 69.198 million revenue generating units (RGUs) as at 30 June, down 5.2% from 72.975 million one year earlier. The lion’s share of subscriber accounts were attributed to Oi’s ‘personal mobility’ unit: 45.319 million, down 5.1% from 47.756 million y-o-y. ‘Residential’ customers dropped 3.8% to 16.153 million, while the company’s ‘B2B’ unit saw its subscriber accounts fall 9.0% to 7.078 million. Finally, the number of public telephones in use fell 0.5%, from 651,000 to 648,000.

Brazil, Oi