Brisanet Serviços de Telecomunicações (BRST3) Q3 2024 earnings summary

Executive summary

• Added 40,200 fiber broadband customers in 3Q24, reaching 1.4 million connected homes and 222,823 mobile customers, with continued expansion in the Northeast region and stable or growing market share in key capitals.

• Infrastructure includes over 44,000 km of backbone, 280+ data centers, and 93,000 km of FTTH cables, with mobile coverage in 200 cities and 9.1 million people.

Financial highlights

• Net revenue grew 17.4% year-over-year to R$364.7 million in 3Q24, driven by subscriber growth and a 13.5% increase in B2B revenues.

• Gross profit reached R$151.6 million, up from R$143.5 million in 3Q23.

• EBITDA was R$150.0 million (margin 41%), up 9.3% year-over-year, but margin declined by 3.1 p.p. due to mobile segment costs.

• Net income for 3Q24 was R$17.5 million, down 46% year-over-year, impacted by higher costs and financial expenses.

• Financial expenses rose 35% to R$57.1 million, mainly due to new debenture issuance.

Outlook and guidance

• Management reaffirms commitment to organic growth in fiber and mobile segments, with ongoing investments in infrastructure and customer base expansion.

• Forward-looking statements are subject to external factors and risks, as highlighted in the legal notice.