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Oi (OIBR3) reverses profit and loses 321 million Rls in the second quarter of 2022

Oi phone operator (OIBR3;OIBR4) recorded a loss of R$321 million in the second quarter of 2022, reversing a profit of R$1.139 billion in the second quarter of 2021 and R$1.782 billion in the first quarter of 2022, the company said Thursday (11).

Routine EBITDA (Ebitda) totaled R$384 million, down 69.8% in one year and 68.5% compared to the first quarter of ’22. Ebitda’s routine margin was 14.0% in the second quarter of ’22 compared to 29.3% in The second quarter of ’21 and 27.8% in the first quarter of ’21.

Total net revenue was R$2.770 billion, a decline of 36.9% in one year and a decline of 37.3% compared to the first quarter.

Total net revenue from Brazilian operations was R$2.740 billion, down 37.5% from Q1 22 and 36.8% from the same period a year earlier. “This reduction was due to the termination of UPI Ativos Móveis and V.tal’s disposals,” explains Oi.

Net revenue from continuing operations in Brazil, in turn, amounted to R$2,237 million, an increase of 5.3% compared to the first quarter of ’22 and 1.0% compared to the second quarter of ’21.

Oi invested R$388 million between April and June of this year, down 79.5% compared to the same period last year.

Cash available to the operator ended the second quarter at R$5.031 billion, an increase of 47.1% over the same period in 2021.

Total net debt amounted to R$16.123 billion at the end of the second quarter of the year 22, compared to R$25,695 billion in the second quarter of the year 21 and R$31.420 billion in the first quarter of the year 22.

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