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RESULTS
   1Q09




    Vivo Participações
    S.A.
    May 08, 2009.
HIGHLIGHTS – Brazilian Corporate Law
R$ billion




                                             1Q09 1Q08*          Δ%

                Net Service Revenue            3.7    3.0      21.4%
                Expenses                     (2.8)   (2.4)     18.8%
                Ebitda                         1.2    1.0      25.2%
                Ebitda Margin                29.9% 28.9%     1.0 p.p.
                Ebit                           0.4    0.3      34.5%
                Net Results –   R$ million   123.5   97.6      26.5%




  *Excluding Telemig.
HIGHLIGHTS -                                            Combined
R$ billion




                                                                   1Q09          1Q08*            Δ%

          Net Service Revenue                                         3.7             3.3        9.6%
          Expenses                                                  (2.8)          (2.6)         7.6%
          Ebitda                                                      1.2             1.1       13.0%
          Ebitda Margin                                           29.9%           28.9%       1.0 p.p.
          Ebit                                                        0.4             0.3       16.0%




  *Excluding the extraordinary effects of recovery of ICMS tax occurred in Telemig in 1Q08.
OPERATION IN
THE NORTHEASTthan 440
            More
                      thousand customers
                     until the end of 1Q09




                            Beggining of   Customers   Municipalities
                             operations                  covered
      Ceará                  Oct/15/08       171.8          20
      Pernambuco             Oct/16/08       224.4          20
      Paraíba               Feb/05/09        24.1            7
      Alagoas               Feb/06/09        12.9            4
      Rio Grande do Norte   Mar/19/09         6.7            6
      Piauí                  Apr/16/09                       2
AGENDA
Operational Performance


Financial Performance
AGENDA
Operational Performance
COMMERCIAL                                           Nationwide market leader
PERFORMANCE                                          Market Share: 29.7% in Brazil
thousand                                             Revenue Share**: 33%

                         CUSTOMERS                   GSM + WCDMA: 73.1% of our customer base
                                                     Recharge Volume in R$: +19% YoY
                              + 7,332

                                        + 696


                              44,945        45,641
              38,309




                  Pre Paid
                  Post Paid
    * Combined with Telemig. **Estimated.
SAC Blended

                          + 10.2%

                                + 31.1%

                                          97
              88
                           74




                                               Improved customer mix
                                               Exchange devaluation



*Combined with Telemig.
ARPU TREND

                                             - 8.5%

                                                      - 7.2%


 MAIN CAMPAIGNS                 29.5          29.1
                                                               27.0




                  * Combined with Telemig.
MOU AND TRAFFIC TRENDS
                    MOU                       VOICE TRAFFIC
                                            Million of minutes
                    - 0.3%                              + 18.6%
                             - 9.4%                             - 6.1%

                      85
                                                       11,107
      77                              77                                 10,427
                                           8,792




      Outgoing                              Outgoing
      Incoming                              Incoming



* Combined with Telemig.
AGENDA
Financial Performance


Desempenho Financeiro
NET SERVICE                                                Data + VAS Revenue

REVENUE                                                   12.1% of Net Service Revenue
                                                          29% YoY growth
R$ million


                                + 9.6%
                                         - 3.1%


                                3,789
                                                  3,670                  + 29.0%
             3,347
                                                                                   + 16.6%
                                                                                         443
                                                                             379
                                                              343




              Others               Network usage                    WAP + Internet 3G + E-mailing
              Data and VAS         Access and usage                 Others         SMS + MMS

     * Combined with Telemig.
OPERATING
 EXPENSES**
  R$ million




* Combined with Telemig. **Excluding depreciation.
EBITDA AND MARGIN
R$ million




    BALANCE BETWEEN SALES
      AND PROFITABILITY

    Revenue YoY                 9.6%
                                                                                               + 1.0 p.p.
    Costs YoY                   7.6%
    Ebitda YoY                 13.0%




     *Combined with Telemig and excluding the extraordinary effects of recovery of ICMS tax occurred in Telemig in 1Q08.
CASH FLOW
AND EBIT
R$ million




             CASH FLOW                                                        EBIT




     *Combined with Telemig and excluding the extraordinary effects of recovery of ICMS tax occurred in Telemig in 1Q08.
NET RESULTS
R$ million




* Brazilian Corporate Law.
FINANCIAL RESULTS,
GROSS DEBT AND NET DEBT
 R$ million




FINANCIAL RESULTS**                                  GROSS DEBT                                        NET DEBT
                                                                    + 55.2%
                                                                             - 3.6%
                                                                                                                       + 150.3%
                                                                    8,003.1       7,713.1                                    + 5.2%

                  55%           55%
                                                     4,969.5

    35%           45%           45%




       *Combined with Telemig. **Excluding the extraordinary effects of recovery of ICMS tax occurred in Telemig in 1Q08.
CAPEX
R$ million


                                           % Capex/Net Revenue




                                                                 1,319.8



     MAIN
     INVESTMENTS
                                                                           541.3
         Increase GSM
         network capacity                         268.8


         Increase WCDMA
         (3G) coverage        R$ million          1Q08*           4Q08     1Q09
                              Network              138.4          978.4    375.9
                              Technology            42.6          109.8     53.7
                              Licenses                 -           74.8        -
                              Others                87.8          156.8    111.7

   * Combined with Telemig.
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.
VIVO - Apresentation of 1st Quarter 2009 Results

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VIVO - Apresentation of 1st Quarter 2009 Results

  • 1.
  • 2. RESULTS 1Q09 Vivo Participações S.A. May 08, 2009.
  • 3. HIGHLIGHTS – Brazilian Corporate Law R$ billion 1Q09 1Q08* Δ% Net Service Revenue 3.7 3.0 21.4% Expenses (2.8) (2.4) 18.8% Ebitda 1.2 1.0 25.2% Ebitda Margin 29.9% 28.9% 1.0 p.p. Ebit 0.4 0.3 34.5% Net Results – R$ million 123.5 97.6 26.5% *Excluding Telemig.
  • 4. HIGHLIGHTS - Combined R$ billion 1Q09 1Q08* Δ% Net Service Revenue 3.7 3.3 9.6% Expenses (2.8) (2.6) 7.6% Ebitda 1.2 1.1 13.0% Ebitda Margin 29.9% 28.9% 1.0 p.p. Ebit 0.4 0.3 16.0% *Excluding the extraordinary effects of recovery of ICMS tax occurred in Telemig in 1Q08.
  • 5. OPERATION IN THE NORTHEASTthan 440 More thousand customers until the end of 1Q09 Beggining of Customers Municipalities operations covered Ceará Oct/15/08 171.8 20 Pernambuco Oct/16/08 224.4 20 Paraíba Feb/05/09 24.1 7 Alagoas Feb/06/09 12.9 4 Rio Grande do Norte Mar/19/09 6.7 6 Piauí Apr/16/09 2
  • 8. COMMERCIAL Nationwide market leader PERFORMANCE Market Share: 29.7% in Brazil thousand Revenue Share**: 33% CUSTOMERS GSM + WCDMA: 73.1% of our customer base Recharge Volume in R$: +19% YoY + 7,332 + 696 44,945 45,641 38,309 Pre Paid Post Paid * Combined with Telemig. **Estimated.
  • 9. SAC Blended + 10.2% + 31.1% 97 88 74 Improved customer mix Exchange devaluation *Combined with Telemig.
  • 10. ARPU TREND - 8.5% - 7.2% MAIN CAMPAIGNS 29.5 29.1 27.0 * Combined with Telemig.
  • 11. MOU AND TRAFFIC TRENDS MOU VOICE TRAFFIC Million of minutes - 0.3% + 18.6% - 9.4% - 6.1% 85 11,107 77 77 10,427 8,792 Outgoing Outgoing Incoming Incoming * Combined with Telemig.
  • 13. NET SERVICE Data + VAS Revenue REVENUE 12.1% of Net Service Revenue 29% YoY growth R$ million + 9.6% - 3.1% 3,789 3,670 + 29.0% 3,347 + 16.6% 443 379 343 Others Network usage WAP + Internet 3G + E-mailing Data and VAS Access and usage Others SMS + MMS * Combined with Telemig.
  • 14. OPERATING EXPENSES** R$ million * Combined with Telemig. **Excluding depreciation.
  • 15. EBITDA AND MARGIN R$ million BALANCE BETWEEN SALES AND PROFITABILITY Revenue YoY 9.6% + 1.0 p.p. Costs YoY 7.6% Ebitda YoY 13.0% *Combined with Telemig and excluding the extraordinary effects of recovery of ICMS tax occurred in Telemig in 1Q08.
  • 16. CASH FLOW AND EBIT R$ million CASH FLOW EBIT *Combined with Telemig and excluding the extraordinary effects of recovery of ICMS tax occurred in Telemig in 1Q08.
  • 17. NET RESULTS R$ million * Brazilian Corporate Law.
  • 18. FINANCIAL RESULTS, GROSS DEBT AND NET DEBT R$ million FINANCIAL RESULTS** GROSS DEBT NET DEBT + 55.2% - 3.6% + 150.3% 8,003.1 7,713.1 + 5.2% 55% 55% 4,969.5 35% 45% 45% *Combined with Telemig. **Excluding the extraordinary effects of recovery of ICMS tax occurred in Telemig in 1Q08.
  • 19. CAPEX R$ million % Capex/Net Revenue 1,319.8 MAIN INVESTMENTS 541.3 Increase GSM network capacity 268.8 Increase WCDMA (3G) coverage R$ million 1Q08* 4Q08 1Q09 Network 138.4 978.4 375.9 Technology 42.6 109.8 53.7 Licenses - 74.8 - Others 87.8 156.8 111.7 * Combined with Telemig.
  • 20.
  • 21. 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.