Financial Results 1Q25 Telefónica Móviles Chile S.A. and Telefónica Chile S.A. PDF Free Download
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Financial Results 1Q25
Telefónica Móviles Chile S.A. and Telefónica Chile S.A.
J A N | M A R 2025
204.054
107.733
4.267
74.777
17.277
198.849
113.041
3.856
67.526
14.427
2
In 1Q25, mobile postpaid revenues recovered growth, offset by a decline in
revenues from equipment sales and other services.
Var % 25/24
-2,6%
Postpaid new adds
(thousands)
Pospaid
TOTAL Equipment sales
Prepaid
+4,9%
% Pospago: 75,3%
3,89
0,14 0,85
4,38
3,80
0,12 0,93 1,60
Prepaid*
Voice M2M
-13,1%-2,3% -63,6%
+8,9%
MBB
Pospago
299 292 307 320 293
-9,7%
-9,6%
Mar-25Mar-24
Others
9,2 9,6 10,1 10,2 9,9
Postpaid ARPU
(CL$ Thousands)
2,9% 3,0% 3,1% 2,9% 2,5%
Postpaid Churn
(%)
-2,2%
+8,2%
Mobile business
revenues fell -2.6% YoY,
due to lower revenues
from equipment sales,
due to changes in
equipment financing
policies implemented
since 2024, and lower
revenues from
interconnections and
MBB.
Postpaid Service
revenues recovered
growth (+4.9%), due to a
higher ARPU (+8.2%),
which offset the decline in
voice access (-2.3%).
A significant reduction in
churn in 1Q25, due to the
application of new
portability regulations
from February 2025.
-16,5%
1Q24 2Q24 3Q24 4Q24 1Q25
Mobile Revenues
(CLP million)
Postpaid Accesses
(millions)
*: Includes Voice and MBB accesses. Change in prepaid voice accesses is due to a change in registration criteria and has no effect on revenues
1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q25
3
120.185
62.994
2.281 8.531
46.378
99.602
64.142
1.576 6.995
26.889
In the fixed-line business (FBB and Telephony), Fiber Optic (FO) revenues
continue to grow. Fiber optic revenues grew 1.8% due to higher ARPU (+4.8%), offset by a
lower number of F.O. accesses (-2.7%).
Total FBB accesses fell -3.7% YoY, due to a -2.7% drop in FO accesses. It is
worth highlighting the improvement in commercial activity and the
positive trend in FO additions over the last three quarters. FO accesses
represent 98.0% of total accesses, reaching 1,362,209 accesses,
maintaining market leadership.
Revenues from "Other Fixed Telephony Services" fell (-42.0%) due to
one-time revenues recognized in 1Q24 for inventory sales associated
with the copper network shutdown project for $20,395 million.
As a result, revenues from FBB, BTS, and Other Fixed Services fell 17.1%
YoY. Excluding the aforementioned impact, revenues remained stable.
Total
+1,8%
F.O. xDSL
-17,1%
-30,9%
Basic Telephony Others
-18,0% -42,0%
XDSL
Fibra (F.O.)
Total
1,43 1,40
0,03
1,38 1,36
0,02
-3,7% -2,7%
95 84 86 97 98
2,4% 2,5% 2,5% 2,4% 2,4%
15,0 15,5 15,7 15,8 15,7
FO ARPU
(CL$ thousands)
Var % 25/24
Mar-25Mar-24
+4,8% +2,5%
Revenues from Telephony (BTS), Fixed Broadband (FBB) and
Others (CLP Millions)
FBB Accesses (millions) FO new adds
(thousands)
FO Churn
(%)
1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q25
4
640 542
98
557 503
54
36.866
29.416
7.450
34.908 29.205
5.703
In Pay TV, the higher ARPU allows for maintaining IPTV revenues.
Pay TV revenues in 1Q25 fell 5.3% compared to 1Q24, due to fewer
TV accesses, partly offset by higher ARPU (+6.6%).
TV accesses (IPTV + DTH) fell -12.9% YoY, mainly explained by fewer
IPTV accesses, which fell -7.2% YoY, due to weaker commercial
dynamics compared to 1Q24.
IPTV accesses represent 90.2% of total TV accesses by March 2025.
Tota TV
-0,7%
IPTV DTH and Others
-5,3%
-23,4%
DTH
IPTV
Total
-12,9% -7,2%
44 39
30 33 35
Mar-25Mar-24
Var % 25/24
18,1
18,9
19,2
19,6
19,3
2,9% 3,0% 3,2% 3,1% 3,1%
+6,6% -20,2%
IPTV ARPU
(CL$ thousands)
TV Accesses (millions) IPTV new adds
(thousands)
IPTV Churn
(%)
TV Revenues (CLP million)
1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q25
5
B2B data solutions and digital services recover growth in 1Q25.
Chile Partner
of the Year
Reconocimiento al
mejor partner Cisco en
Chile 2024
Service
Provider of
the Year
Mejor desempeño en
soluciones de
telecomunicaciones 2024.
Small Business
Partner of the
Year
Destacados por impulsar a
pequeñas empresas con soluciones
tecnológicas de vanguardia 2024
Enterprise of
the Year
Premio que destaca el
rendimiento excepcional con
clientes corporativos 2024.
42.255
27.989
14.266
45.139
29.441
15.698
Total
+5,2%
Digital ServicesPrivate Data Services
+6,8%
+10,0%
At the end of March 2025,
B2B Data and Technology
Solutions revenues grew
+6.8% compared to March
24, driven by +10.0% growth
in Digital Services (SSDD) and
+5.2% growth in Private Data
Services (SSPP), due to
increased commercial
momentum and new
projects.
The recovery is a result of our
client expansion and
profitability program
(leveraged by the positive
NPS), with improvements in
operational efficiency and a
comprehensive value
proposition for each business
segment.
Mar-25Mar-24
Var % 25/24
42.255 45.929 40.807
58.579
45.139
1Q24 2Q24 3Q24 4Q24 1Q25
Revenue from "Data and Technology
Solutions" for Businesses (CLP millions)
Quarterly revenue evolution
(CLP millions)
6
63 64 68 84 59
0,0
150,0
300,0
1Q24 2Q24 3Q24 4Q24 1Q25
Millares
EBITDA*
408 396 387 437 381
1Q24 2Q24 3Q24 4Q24 1Q25
As of March 2025, Ordinary Revenues decreased 6.5%
compared to March 2024, primarily due to lower revenues
from Mobile Terminal Sales and lower revenues from Other
Fixed Telephone Services, due to revenues recognized in
1Q24 from the sale of inventories associated with the copper
network shutdown project ($20,395 million). Excluding these
effects, ordinary revenues remained stable.
EBITDA through March 2025 reached $58,900 million, with a
margin of 15.5%, compared to a margin of 15.3% in Q1 2024.
This is due to lower revenues, offset by a 6.8% reduction in
operating costs and expenses before depreciation, resulting
from the efficiency measures implemented, which have
resulted in lower direct and commercial expenses.
Operating costs include, according to IFRS 15 accounting
standards, deferred expenses for commissions from mobile
and fixed-line customer acquisitions and broadband and
television home equipment, associated with commercial
activity from prior years. This does not represent cash flow
effects or commercial dynamics for the current period of
2025. If we discount this effect for both periods, the EBITDA
margin as of March 2025 reaches 18.7%, compared to 16.1%
in Q1 2024.
*: Excludes extraordinary effects from 2024: income from the sale of assets (MM$1,472), workforce
restructuring costs (MM$6,724) and goodwill impairment costs (MM$319,348).
15,3% 16,1% 17,6% 19,3% 15,5%
Margen EBITDA
Evolution of Revenue and EBITDA
Quarterly operating revenues evolution
CLP billion
EBITDA(4) and EBITDA Margin(4)
CLP billion / %
7
*: Excluye extraordinario en 2024, ingresos por venta de activos (MM$1.472), costos de
reestructuración de plantilla (MM$6.724) y costos de deterioro de plusvalía (MM$319.348).
10,9% 7,4% 10,7% 4,3% 8,0%
OpCF (EBITDA – Capex) / Ingresos
18,2
34,7 26,6
65,8
28,4
1Q24 2Q24 3Q24 4Q24 1Q25
4,5% 8,8% 6,9% 15,0% 7,5%
Capex / Ingresos Capex through March 2025 grew 56.0%
compared to 1Q24, with a Capex-to-
Revenue ratio of 7.5%. This growth is
primarily explained by the launch of the
mobile network renewal plan, which
will significantly improve our customer
experience. Through this plan, 80% of
the country's urban and semi-rural
areas will be covered with next-
generation 5G technology, renewing
more than 5,000 mobile sites and
increasing speeds by an average of 40%.
As of March 2025, the OpCF reached
$30,145 million, with a margin of 8.0%.
The OpCF margin, adjusted for the
effects of deferred commission
expenses and customer equipments
under IFRS 15 accounting standards,
would be 11.2%, reflecting the
Company's solid position despite the
investment effort.
44,4
29,2
41,4
18,7
30,5
1Q24 2Q24 3Q24 4Q24 1Q25
Capex Evolution
CLP Billion
OpCF (EBITDA(1) – Capex) Evolution
CLP billion / %
Capex and OpCF (EBITDA-Capex) Evolution
8
✓100% FX Coverage
(principal and interest
until maturity).
✓Average gross debt rate
(excl. Leases): 6,36%
anual.
✓Payment capacity supported by EBITDA generation for the last 12 months ending
March 2025, which reached Ch$276 billion.
✓Debt as of mar. 2025 → $1.512.654 million.
✓Net Debt as of mar. 2025 → $1.270.765 million.
✓ICR: AA- (negative) / Fitch: AA- (negative).
✓S&P: BB+ (Stable) / Fitch: BBB- (negative).
International
loans
14%
Local
Loans
23%
Local
Bonds
26%
International
Bond
36%
Variable rate
70%
Fixed rate
30%
107.911
327.906
100.000 165.944
38.223 -
419.940
2025 2026 2027 2028 2029 2030 2031
622 915 939 993 1.270387 568 566 629 931
1.448 1.382 1.502 1.495 1.512
1.213
1.035 1.129 1.131 1.173
2021 2022 2023 2024 Mar 2025
Net debt Net debt (excl. Leases)
Gross debt Gross debt (Excl. Leases)
Debt of Telefónica Móviles Chile S.A.
Debt Structure as of December 2024 Debt Evolution
(Billion CLP)
Currency and Interest Rate Coverage
Maturity Profile - December 2024
(million CLP)
9
▪In November 2024, a loan agreement was reached with Banco
Santander for $50,000 million over a 3-year bullet term, maturing in
November 2027
▪In November 2024, a bond was issued in the local market for UF 1
million over a 5-year term, with a 1.7x oversubscription.
▪In February 2025, a loan agreement was signed with BBVA NY for
EUR 58 million over a 3-year bullet term.
1,4x
2,0x
Mar 2024 Mar 2025
2,3x
3,0x
Mar 24 Mar 25
Refinancing progress
4,1x 4,6x
Mar 2024 Mar 2025
3,5x
Dic. 2024
2,9x
Dic.2024
1,6x
Dic.2024
Financial indicators - Telefónica Móviles Chile S.A.
Net Debt / EBITDA (1) (4) EBITDA(3) (4) / Net Financial Expenses
Total Liabilities(2) / Equity
Notes: (1) Net Debt includes financial debt from Leases and adjustments in EBITDA for the workforce restructuring plan described in note 24.d) of the Financial Statements, asset
sales and exclusivity in the sale of non-recurring business; (2) Less hedging assets; (3) EBITDA and Net Financial Expenses consider 12 moving months; (4) in 2024, goodwill
impairment costs of MM$319,348 are excluded.
