NOS, S.G.P.S., S.A (OTCPK:ZONNF) Q1 2025 Results Conference Call May 7, 2025 7:00 AM ET
Company Participants
Pedro Cota Dias – Investor Relations
Luis Nascimento – Chief Financial Officer
Conference Call Participants
Joao Pinto – JB Capital
Fernando Cordero – Banco Santander
Ajay Soni – JPMorgan
Roshan Ranjit – Deutsche Bank
Pedro Cota Dias
Hello, everyone, and welcome to NOS First Quarter 2025 Results Presentation. I’m Pedro Cota Dias, Investor Relations. We have the full executive team with us in the room today. We’ll start with our CFO, Luis Nascimento, who will take you through a short presentation highlighting our main achievements and KPIs for the quarter. And then the team will be available to address any questions you may have in the Q&A.
Thanks for joining, and I’ll hand you over to Luis.
Luis Nascimento
Good morning, and welcome to NOS first quarter conference call. As usually, we will go briefly through the results of the quarter, and then we’ll go into the Q&A. So we will begin with the 3 main highlights of the first quarter: the closing of Claranet acquisition, a critical step to leverage NOS ICT and tech capabilities and to improve NOS value proposition. The second is strong revenue growth while accelerating our operational transformation based on AI solutions and digitalization. And a healthy free cash flow generation from operations and structural lower investments.
A quick view on the main KPIs. Revenue increased by 4.5% and EBITDA rose 4.3%. This positive performance along with a CapEx reduction of minus 1.8% led to improved EBITDA minus CapEx of 12% and the sustained free cash flow generation of 5.2%. Recurring free cash flow, excluding extraordinary income related to legal procedures and activity fees grew 9.8%. Net income decreased 13%, but also excluding the non-recurring activity fees grew almost 21%, reflecting a solid operational performance.
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