NOS, S.G.P.S., S.A. (ZONNF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone, and welcome to Norge First Quarter 2025 results presentation. I'm Pedro Cotadias, Investor Relations. We have the full team, the full executive team with us in the room today. We'll start with our CFO, Luis Nascimento, who will take you through a short presentation highlighting our main achievements and KPIs for the quarter. And then the team will be available to address any questions you may have in the Q&A. Thanks for joining and I'll hand you over to Luís. Good morning and welcome to NOS first quarter conference call. As usually we will go briefly through the results of the quarter and then we'll go into the Q&A. So we will begin with the three main highlights of the first quarter. The closing of Clarinet acquisition, a critical step to leverage NOS ICT and tech capabilities. and to improve NOS value proposition. The second, a strong revenue growth while accelerating our operational transformation based on AI solutions and digitalization. And a healthy free cash flow generation from operations and structural lower investments. A quick view on the main KPIs. Revenue increased by 4.5% and EBITDA rose 4.3%. This positive performance, along with a CAPEX reduction of minus 1.8, led to improved EBITDA minus CAPEX of 12% and a sustained free cash flow generation of 5.2. Recurring free cash flow, excluding extraordinary income related to legal procedures on activity fees, grew 9.8%. Net income decreased 13%, but also excluding the non-recurrent activity fees grew almost 21%, reflecting a solid operational performance. A strategy update on NOS main priorities. With another strong quarter of fiber-to-dome expansion, over 5.8 million households are now covered by NOS gigabit fixed network, with FTTH representing 84% of households passed. This is a significan...