NOS, S.G.P.S., S.A. (ZONNF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everyone. Thanks for joining and welcome to the fourth quarter and 2025 full year results conference call. As usual, we will start with a brief presentation by our CFO. And then we'll open for Q&A and we have the executive team in the room for that as well. So wish over to you. Thank you, Pedro. Good afternoon to all and welcome to our conference call. We will begin as usual with the main highlights of this fourth quarter. In the quarter, NOS maintained a positive operational momentum despite new competitive environment, leveraging 5G and nationwide fiber-fixed infrastructure. Also a healthy cash flow generation driven by top-line growth, operational efficiencies across OPEX and CAPEX structural decline. and an attractive shareholder remuneration with a strong dividend yield while maintaining a robust financial position. A quick overview of our main KPIs. During the fourth quarter, consolidated revenues increased by 0.3% to $486 million, and EBITDA rose 4.4%. This solid EBITDA performance, along with a capex reduction of 4%, led to improve the EBITDA minus capex of almost 21%. Recurring free cash flow, excluding extraordinary effects, increased 132% to 71 million, and net income increased 58%, reflecting a solid operational performance and our strategic transformation program. Our annual numbers also reflect a strong performance, which we will discuss in more detail later in this presentation. So, NOS has achieved upgraded classifications from both CDP and S&P global ratings, recognizing its significant ESG efforts. The CDP score improved from B2A, reflecting the leadership position in the fight against climate change, a distinction achieved by only 2% of the companies. Furthermore, NOS S&P global score increased from 58 to 75, nearly doubling the sec...