Unifique Telecomunicações (FIQE3) Q4 2024 earnings summary

Executive summary

• Achieved recognition as the best broadband provider in Southern Brazil for the sixth consecutive year, reflecting high service quality and customer dedication.

• Achieved strong organic growth in broadband accesses, with a 41.7% increase year-over-year, and expanded network coverage to 258 cities in 2024.

• Maintained low churn rates and high customer retention, supporting sustainable growth.

• Overcame operational challenges, including severe floods in Rio Grande do Sul, with rapid recovery and service restoration.

• Significant focus on technological innovation, with 80% of the broadband network using XGS-PON technology.

Financial highlights

• Gross revenue reached BRL 1,3 billion in 2024, up 15% year-over-year, with the most precise figure reported as BRL 1,272.4 million.

• Net profit for 2024 ranged from BRL 164.6 million to BRL 225.6 million, with the most precise figure being BRL 174.6 million, up 20.3% year-over-year.

• EBITDA totaled BRL 499.9 million, up 13.4% year-over-year, with a margin of up to 49.9%.

• Operating cash flow conversion from EBITDA was 108.5% in 2024, reflecting robust cash generation.

• Net debt stood at BRL 334.4 million, with a low leverage ratio of 0.66x Net Debt/EBITDA and a solid cash position of BRL 447.8 million at year-end.

Outlook and guidance

• Targeting 300,000 mobile accesses by end of 2025 and expanding own coverage to over 100 cities.

• Planned CapEx of BRL 390 million for 2025, focused on broadband and 5G expansion.

• Plans to expand 5G/4G coverage to all cities in Santa Catarina and Rio Grande do Sul with fewer than 30,000 inhabitants by 2029.

• Focus on sustaining growth through continued network expansion, technology upgrades, and efficient capital allocation.

• Plans to maintain low leverage and financial flexibility for future transformational operations.