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Vivo Participações S/A
April 30, 2008
RESULTS
R$ billions


                                   1Q08     1Q07
      Revenue up by 16.9%            3.3      2.9
      Expenses grow by 13.2%        (2.4)    (2.1)
      Ebitda increases by 27.0%      1.0      0.8
      Margins grow by 2.3   p.p.   28.8%    26.6%
      Ebit up by 60.1%              0.3       0.2
      Positive Net Result          89.6     (19.3)
Agenda
Operating Performance
Financial Performance




                        Vivo Participações S/A
                        April 30, 2008
Nationwide market leader
Share of net additions in the quarter: 22.2%
Market Share: 27.3% in Brazil
                                                COMMERCIAL
GSM: more than 42% of our customer base        PERFORMANCE
                                               thousand         + 5,293
                                                                             + 839
                                                                 33,484              34,323
      RECHARGE POINTS
       thousand                                      29,030                          6,473
                                                                     6,247
                           412                        5,653
                  366
      338                         22%

                                                                 27,237              27,850
                                                      23,377




                                                      1Q07           4Q07             1Q08

      1Q07        4Q07     1Q08                            Prepaid           Postpaid
SAC*

                  - 5.0%
                           - 7.8%

                    103
       100
                                    95
                   16%
      24%                           19%       GSM: more competitive
                   22%
                                              prices, acquisition of
                                    25%
      29%                                     high-value clients and
                                              increase in postpaid
                   62%                        additions
      48%                           56%




      1Q07         4Q07         1Q08
  Subsidy       Comissions      Advertising



* Blended SAC
ARPU AND MOU TRENDS

         ARPU                                             MOU
           - 0.7%

                      - 4.2%                                           - 6.3%


               31.1                                              80
 30.0                          29.8             75                               75


               13.7                                              36
 13.9                          13.3             36                               33

                                      + 2.5%


 16.1          17.4            16.5             39               44              42



 1Q07          4Q07            1Q08            1Q07             4Q07            1Q08
    Outgoing           Incoming                      Outgoing           Incoming




                                               Data ARPU up by 26%
                                               in the year
Agenda
Operating Performance
Financial Performance




                        Vivo Participações S/A
                        April 30, 2008
Agenda
Operating Performance
Financial Performance




                        Vivo Participações S/A
                        April 30, 2008
Data and VAS Revenue                             NET SERVICE
        10.4% of net service revenue
        47.7% YoY growth
                                                        REVENUE
                                                                           R$ million




                  + 15.8 %                               DATA REVENUE
                               + 1.2 %
                                                                          315
                      2,986              3,023
                                                              286
          2,609
                                                       214                50%
                      1,390            1,367                  46%

         1,192
                                                       47%



                                                              45%         43%
                                       1,312           47%
                      1,287
         1,185
                                                        6%     9%         7%

                                                       1Q07   4Q07        1Q08
          214          286               315
                                                     Others   WAP + ZAP          SMS
          19           24                27
          1Q07         4Q07              1Q08
Other Services               Data and VAS
Network Usage                Franchising and Usage
OPERATING COSTS*
R$ million
                                                      Operating costs under
                                                      strict control


                                                                         702
             Services Rendered                                        666
                                                               595

                                                         502
                    Goods Sold                                  612
                                                352

                                                                       680
              Selling Expenses                                                 756
                                                               604

                  General and        156
                                      166
                 Administrative      146

                                     160
                             H.R.      182
                                      174

                                      164
             Fistel, Fust, Funtel   149
                                    142

                                    1Q07     4Q07     1Q08
        * Excluding depreciation
EBITDA AND EBITDA MARGIN
  R$ million




BALANCE BETWEEN                        908       961
SALES AND PROFITABILITY
                            757
Revenue         16.9% YoY
                                                  28.8%
Costs          13.2% YoY    26.6%      26.9%
EBITDA          27% YoY


                            1Q07       4Q07      1Q08
                              EBITDA     EBITDA Margin
CASH FLOW AND
EBIT
R$ million




 CASH FLOW                      EBIT



                657.1
                                                   297.7

                                   186.0   186.6


      (212.6)           (8.0)

                                   1Q07    4Q07    1Q08

       1Q07     4Q07    1Q08
NET RESULT
R$ million




                                          89.6


             HISTORICAL
               RESULT
                                   28.3


                          (19.3)



                          1Q07     4Q07   1Q08
FINANCIAL RESULT,
   GROSS DEBT AND NET DEBT
   R$ million




FINANCIAL RESULT               GROSS DEBT                       NET DEBT
                                         + 18.4%                          - 12.0%
                                               + 9.6%                             + 12.7%
                                                                3,305.1
                                                      4,803.4                          2,907.7
                                         4,381.4                          2,579.3
                               4,057.2

 118.7          111.4                      55%          57%
                                68%
                        70.5

                                           45%          43%
                                32%

 1Q07           4Q07    1Q08    1Q07      4Q07          1Q08     1Q07      4Q07         1Q08
                                   Short Term      Long Term
CAPEX
 R$ million




                                    29.0%        % Capex/Net Revenue

                        8.3%                      7.7%
                                   977.1

MAIN INVESTMENT                    185.7
PROJECTS
                                   129.0

 Increase in GSM
 Network Capacity and
 Quality                235.4      662.4       256.6

 New Customer            93.5                  84.4
                                               36.6
 Service and Front       43.8
                                               135.6
                         98.1
 Office system
                        1Q07        4Q07        1Q08
 Adaptation to the      Network   Technology   Others
 Number Portability
 project
YEARS
                                                   Great reasons to
                                                   celebrate!
On April 13 Vivo completed 5 years of
existence.

The Company’s history is full of achievements
and accomplishments . In these five years:

Market leader
More than 38 million customers
Brazil’s most valuable cell phone operator brand
More cost-effective plans
Best service quality
DISCLAIMER


   This presentation may contain forward-looking statements
   concerning future prospects and objectives regarding growth
   of the subscriber base, a breakdown of the various services to
   be offered and their respective results. The exclusive purpose
   of such statements is to indicate how we intend to expand our
   business and they should therefore not be regarded as
   guarantees of future performance.

   Our actual results may differ materially from those contained
   in such forward-looking statements, due to a variety of
   factors, including Brazilian political and economic factors, the
   development of competitive technologies, access to the
   capital required to achieve those results, and the emergence
   of strong competition in the markets in which we operate.

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VIVO - Apresentation of 1st Quarter 2008 Results

  • 1.
  • 3. RESULTS R$ billions 1Q08 1Q07 Revenue up by 16.9% 3.3 2.9 Expenses grow by 13.2% (2.4) (2.1) Ebitda increases by 27.0% 1.0 0.8 Margins grow by 2.3 p.p. 28.8% 26.6% Ebit up by 60.1% 0.3 0.2 Positive Net Result 89.6 (19.3)
  • 4. Agenda Operating Performance Financial Performance Vivo Participações S/A April 30, 2008
  • 5. Nationwide market leader Share of net additions in the quarter: 22.2% Market Share: 27.3% in Brazil COMMERCIAL GSM: more than 42% of our customer base PERFORMANCE thousand + 5,293 + 839 33,484 34,323 RECHARGE POINTS thousand 29,030 6,473 6,247 412 5,653 366 338 22% 27,237 27,850 23,377 1Q07 4Q07 1Q08 1Q07 4Q07 1Q08 Prepaid Postpaid
  • 6. SAC* - 5.0% - 7.8% 103 100 95 16% 24% 19% GSM: more competitive 22% prices, acquisition of 25% 29% high-value clients and increase in postpaid 62% additions 48% 56% 1Q07 4Q07 1Q08 Subsidy Comissions Advertising * Blended SAC
  • 7. ARPU AND MOU TRENDS ARPU MOU - 0.7% - 4.2% - 6.3% 31.1 80 30.0 29.8 75 75 13.7 36 13.9 13.3 36 33 + 2.5% 16.1 17.4 16.5 39 44 42 1Q07 4Q07 1Q08 1Q07 4Q07 1Q08 Outgoing Incoming Outgoing Incoming Data ARPU up by 26% in the year
  • 8. Agenda Operating Performance Financial Performance Vivo Participações S/A April 30, 2008
  • 9. Agenda Operating Performance Financial Performance Vivo Participações S/A April 30, 2008
  • 10. Data and VAS Revenue NET SERVICE 10.4% of net service revenue 47.7% YoY growth REVENUE R$ million + 15.8 % DATA REVENUE + 1.2 % 315 2,986 3,023 286 2,609 214 50% 1,390 1,367 46% 1,192 47% 45% 43% 1,312 47% 1,287 1,185 6% 9% 7% 1Q07 4Q07 1Q08 214 286 315 Others WAP + ZAP SMS 19 24 27 1Q07 4Q07 1Q08 Other Services Data and VAS Network Usage Franchising and Usage
  • 11. OPERATING COSTS* R$ million Operating costs under strict control 702 Services Rendered 666 595 502 Goods Sold 612 352 680 Selling Expenses 756 604 General and 156 166 Administrative 146 160 H.R. 182 174 164 Fistel, Fust, Funtel 149 142 1Q07 4Q07 1Q08 * Excluding depreciation
  • 12. EBITDA AND EBITDA MARGIN R$ million BALANCE BETWEEN 908 961 SALES AND PROFITABILITY 757 Revenue 16.9% YoY 28.8% Costs 13.2% YoY 26.6% 26.9% EBITDA 27% YoY 1Q07 4Q07 1Q08 EBITDA EBITDA Margin
  • 13. CASH FLOW AND EBIT R$ million CASH FLOW EBIT 657.1 297.7 186.0 186.6 (212.6) (8.0) 1Q07 4Q07 1Q08 1Q07 4Q07 1Q08
  • 14. NET RESULT R$ million 89.6 HISTORICAL RESULT 28.3 (19.3) 1Q07 4Q07 1Q08
  • 15. FINANCIAL RESULT, GROSS DEBT AND NET DEBT R$ million FINANCIAL RESULT GROSS DEBT NET DEBT + 18.4% - 12.0% + 9.6% + 12.7% 3,305.1 4,803.4 2,907.7 4,381.4 2,579.3 4,057.2 118.7 111.4 55% 57% 68% 70.5 45% 43% 32% 1Q07 4Q07 1Q08 1Q07 4Q07 1Q08 1Q07 4Q07 1Q08 Short Term Long Term
  • 16. CAPEX R$ million 29.0% % Capex/Net Revenue 8.3% 7.7% 977.1 MAIN INVESTMENT 185.7 PROJECTS 129.0 Increase in GSM Network Capacity and Quality 235.4 662.4 256.6 New Customer 93.5 84.4 36.6 Service and Front 43.8 135.6 98.1 Office system 1Q07 4Q07 1Q08 Adaptation to the Network Technology Others Number Portability project
  • 17. YEARS Great reasons to celebrate! On April 13 Vivo completed 5 years of existence. The Company’s history is full of achievements and accomplishments . In these five years: Market leader More than 38 million customers Brazil’s most valuable cell phone operator brand More cost-effective plans Best service quality
  • 18. DISCLAIMER This presentation may contain forward-looking statements concerning future prospects and objectives regarding growth of the subscriber base, a breakdown of the various services to be offered and their respective results. The exclusive purpose of such statements is to indicate how we intend to expand our business and they should therefore not be regarded as guarantees of future performance. Our actual results may differ materially from those contained in such forward-looking statements, due to a variety of factors, including Brazilian political and economic factors, the development of competitive technologies, access to the capital required to achieve those results, and the emergence of strong competition in the markets in which we operate.