Brazil's Vivo Participacoes has reported that its fourth-quarter revenues rose slightly by 5% to R$4.32 billion (US$2.33 billion), while its net income dropped a shade to R$221.6 million (US$120 million), from R$22.1 million a year ago. For the full year, revenues rose from R$15.82 billion to R$16.36 billion (US$8.84 billion), while net income jumped to R$857.5 million (US$463 million), compared to R$389.7 million.
Vivo Participacoes is a joint-venture owned equally by Portugal Telecom and Spain's Telefónica.
EBITDA margin in the quarter of 32.7%, remaining stable in percentage terms over 4Q08. EBITDA reached R$ 1,412.3 million in the quarter, a growth of 1.1% in comparison with 4Q08. In 2009, the margin was 31.9% with a growth of 7.2% over the previous year.
In 4Q09, Vivo managed to attract 2.897 million new customers, representing 37% in share of net additions. When compared to 4Q08 growth in net additions was of 8.5%. Year-to-date, it totaled 6.8 million new customers..
In December, Vivo's customer base reached 51.74 million, increasing its market share to 29.75%. The customer base grew 15.1% in 2009 when compared to last year.
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