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Hi returns to a profit of R$1.2 billion in Q221

Hi returns to a profit of R$1.2 billion in Q221

Oi just released its operating results for the second quarter of 2021, when it posted a net income of R$1.2 billion, and reversed a net loss of R$3.5 billion in the first quarter. But revenue decreased 1.4% compared to the first quarter of this year, to R$4.33 billion, down 3.5% compared to the same period in 2020. Consolidated net revenue (which includes operation in Africa and East Timor) increased by R$55 million, down 6% from the first quarter of 21 and an increase of 2% from the second quarter of 2020.

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Operating Income before Financial Results and Taxes (EBIT) was R$ 256 million, compared to negative R$ 366 million in Q2 2020 and below R$ 1.196 billion in Q1 21. B2B segment provided stability in total revenue , compared to the quarter of the previous year, but a decrease of 10.6% compared to the second quarter of 2020, which, according to the company, reflects the “bad scenario of the Covid-19 epidemic.”

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The operator continues the steady expansion of its FTTH (fiber to the home) access network, already owning 12 million home pass cards (homes with fiber), averaging 507 thousand horsepower in Q221. Oi already has 2.8 million homes connected to its network (HC), of which 2.68 million is in the residential sector, with an occupancy rate of 23.6% (acquisition rate). The operator’s goal is to reach more than 25% of the receipt rate in 2024.

The company recorded earnings before interest, tax, depreciation and amortization of 1.3 billion Brazilian reais, down 13% from the same period last year, but increased by 13% on a quarterly basis, with a margin of 29.3%.

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As it stands out, the company notes the confirmation of InfraCo’s BTG proposal, which has now passed To be called V.Tal; 2 billion Rls “bridge” of the mobile phone operation; Issuance of bonds worth R$4.5 billion and signing an arbitration agreement with Anatel, which will review the amounts owed by the company to the federal government for the concession.