Brazil’s Oi postpones release of 2022 financial statements


SAO PAULO (Reuters) – Brazilian telecom operator OIBR4.SA has decided to postpone its 2022 earnings report to May 22 after the expected announcement of a judicial reform plan late on Friday. announced.

The company, which entered bankruptcy protection for the second time in March just months after similar proceedings, said the delay was largely due to ongoing negotiations with a group of financial creditors.

However, Oi has released preliminary figures showing consolidated net revenue for the fourth quarter of last year was R$2.62 billion ($518.96 million).

The Brazilian business’ ordinary earnings before interest, taxes, depreciation and amortization (EBITDA) for the period amounted to R$320 million.

The company’s cash position at the end of 2022 was R$3.22 billion, Oi added.

In a separate filing, the telecom operator entered into bond purchase agreements with some financial creditors to establish court-approved debtor terms with an ownership interest of $275 million. said.

($1 = 5.0486 Real)

Reporting by Peter Frontini Editing by Margherita Choi

Our Standards: Thomson Reuters Trust Principles.

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