Brazil’s largest wireless carrier Telefonica Brasil SA reported on Wednesday R$1.274 billion ($293 million) Q4 net income, down 14.3% year-on-year, as taxes and depreciation costs overshadowed an improved operating performance. The subsidiary of Spain’s Telefónica SA, which in Brazil operates under the brand Vivo, said earnings before interest, taxes, depreciation and amortisation, a gauge of Vivo’s operating performance also known as EBITDA, rose by 22.8% in Q4 to R$4.967 billion.
Comgás, the largest gas distributor in Brazil with 2 million customers, posted a net income of R$367.1 million ($85 million) in Q4 of 2019, which represented a 57.2% drop compared to the same period of 2018 , according to the company’s latest report. The net debt, which was previously R$1.5 billion, more than doubled and reached the level of R$3.5 billion. So far this year, the company made a profit of R$1.3 billion, an increase of 2.1%.
Banco do Brasil recorded a net book income of R$18.16 billion in 2019, this is an increase of 41.2% compared to 2018. In Q4, net income was R$5.69 billion, an increase of 49.7% compared to the same period of 2018 and an increase of 33.8% compared to Q3. Among largest banks, Itaú was the one that registered the greatest benefits in 2019, with earnings of R$26.583 billion, an increase of 6.4% compared to 2018, the highest nominal annual result (not adjusted for inflation) ever recorded by Brazilian banks.
Brazilian insurance company BB Seguridade SA reported on Monday an almost 35% jump in its Q4 adjusted net income compared with the same period a year ago. Its securities filing says that its quarterly recurring net profit, which excludes one-off items such as proceeds from the sale of its stake in reinsurer IRB Brasil RE, came at 1.133 billion reais ($262.24 million). For 2020, the company expects a growth between 7% to 13% in operating result.