Oi recorded billionaire net income in the first quarter of 2022, reversing a loss from the same period of the previous year, in the face of a positive impact from the financial line, according to figures from the telecommunications company released on Tuesday (28) at night.
The publication of the balance sheet occurred after delays by the company due to audit difficulties related to the asset sale process.
Oi had a net profit attributable to controlling shareholders of R$1.782 billion in the first quarter of 2022, compared to a loss of R$3.038 billion a year earlier.
The result includes discontinued operations, such as mobile telephony, which the company sold as part of its judicial reorganization, but which are gradually being transferred.
Oi’s judicial recovery had the final report delivered to the Court earlier this week.
The operating result measured by routine Ebitda (earnings before taxes, interest, depreciation and amortization), which excludes extraordinary factors, was R$ 1.252 billion, an increase of 9.9% in the annual comparison.
The number came very close to the one already indicated by the company, of R$ 1.22 billion, in preliminary disclosure last week.
Oi’s total net revenue in the quarter ended in March was R$4.415 billion, 0.9% lower than in the same period in 2021.
The company’s balance sheet benefited from a net financial result of BRL 1.874 billion against a loss of BRL 3.945 billion in the first quarter of 2021, with the effect of the appreciation of the real against the dollar.
Oi’s net debt closed the quarter at BRL 31.420 billion, 3.5% lower than at the end of 2021. The company highlights that some debts were fully paid off, including BRL 4.6 billion to BNDES, since the end of March.
Optical fiber
Net revenue from optical fiber, which includes business for residential customers and small businesses, grew 54.3% in one year, to R$913 million. The number of homes connected (HC) to the technology reached 3.534 million, with the addition of approximately 154 thousand accesses in the quarter.
Oi said that there has been a deceleration in net additions since the last months of 2021, which it mainly attributes to macroeconomic conditions and their impacts on involuntary cancellation and delinquency.
“The company continued to reinforce and refine its credit models, to ensure growth with quality and profitability, which at first directly impacts sales volume, but with the expectation of a reduction in the level of churn (cancellation) during the second half of the year” , said Hi.
The fiber business is seen as the company’s main source of growth going forward.
Source: CNN Brasil
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