BRISANET SERVIÇOS DE TELECOMUNICAÇÕES S.A.

Income Statement Brisanet Serviços de Telecomunicações S.A.

Equities

BRST3

BRBRSTACNOR9

Integrated Telecommunications Services

End-of-day quote Sao Paulo Other stock markets 15/05/2026			5-day change	1st Jan Change
2.850 ^BRL	-1.72%		-7.17%	-15.93%

05-12	Brisanet Serviços de Telecomunicações S.A. Reports Earnings Results for the First Quarter Ended March 31, 2026	CI
03-19	Brisanet Serviços de Telecomunicações S.A. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2025	CI

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Published financial data: BRISANET SERVIÇOS DE TELECOMUNICAÇÕES S.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	624M	960M	1.23B	1.43B	1.68B
Total Revenues	624M	960M	1.23B	1.43B	1.68B
Cost of Goods Sold, Total	368M	556M	654M	827M	965M
Gross Profit	256M	403M	573M	601M	712M
Selling General & Admin Expenses, Total	211M	226M	290M	417M	477M
Other Operating Expenses	24.25M	13.54M	16.18M	-10.12M	-6.64M
Other Operating Expenses, Total	235M	240M	307M	407M	470M
Operating Income	20.71M	163M	267M	194M	242M
Interest Expense, Total	-81.02M	-125M	-145M	-181M	-279M
Interest And Investment Income	41.43M	66.19M	82.74M	87.46M	86.22M
Net Interest Expenses	-39.58M	-58.84M	-62.45M	-93.73M	-192M
Income (Loss) On Equity Invest.	-2.57M	-	-	-	-
Currency Exchange Gains (Loss)	-11.96M	11.48M	948K	-19.75M	16.74M
Other Non Operating Income (Expenses)	-7.16M	-12.09M	-16.36M	-463K	-20.81M
EBT, Excl. Unusual Items	-40.57M	104M	189M	80.07M	45.68M
Legal Settlements	1.25M	-1.27M	-9.8M	-1.11M	-6K
EBT, Incl. Unusual Items	-39.32M	103M	179M	78.96M	45.67M
Income Tax Expense	-5.35M	35.22M	7.09M	18.16M	4.79M
Earnings From Continuing Operations	-33.97M	67.53M	172M	60.79M	40.88M
Net Income to Company	-33.97M	67.53M	172M	60.79M	40.88M
Minority Interest	-	-	305K	-4K	-43K
Net Income - (IS)	-33.97M	67.53M	172M	60.79M	40.84M
Net Income to Common Incl Extra Items	-33.97M	67.53M	172M	60.79M	40.84M
Net Income to Common Excl. Extra Items	-33.97M	67.53M	172M	60.79M	40.84M
Per Share Items
Net EPS - Basic	-0.03	0.05	0.13	0.14	0.09
Basic EPS - Continuing Operations	-0.03	0.05	0.13	0.14	0.09
Basic Weighted Average Shares Outstanding	1.23B	1.31B	1.33B	438M	438M
Net EPS - Diluted	-0.03	0.05	0.13	0.14	0.09
Diluted EPS - Continuing Operations	-0.03	0.05	0.13	0.14	0.09
Diluted Weighted Average Shares Outstanding	1.23B	1.31B	1.33B	438M	438M
Normalized Basic EPS	-0.02	0.05	0.09	0.11	0.07
Normalized Diluted EPS	-0.02	0.05	0.09	0.11	0.07
Dividend Per Share	-	-	-	0.04	0.04
Payout Ratio	-	-	11.37	106.16	37.46
Supplemental Items
EBITDA	103M	346M	522M	534M	674M
EBITA	20.71M	163M	267M	194M	242M
EBIT	20.71M	163M	267M	194M	242M
EBITDAR	-	417M	607M	627M	781M
Effective Tax Rate - (Ratio)	13.6	34.28	3.95	23	10.49
Total Current Taxes	948K	26.65M	31.3M	18.34M	23.11M
Total Deferred Taxes	-6.3M	13.96M	-14.08M	-175K	-4.72M
Normalized Net Income	-25.35M	65.01M	118M	50.04M	28.51M
Interest Capitalized	-	-	-	-	14.31M
Interest on Long-Term Debt	2.09M	3.94M	5.76M	11M	14.54M
Supplemental Operating Expense Items
Advertising Expense	19.47M	-	-	36.42M	47.21M
Selling and Marketing Expenses	67.61M	120M	177M	229M	268M
General and Administrative Expenses	143M	106M	113M	188M	209M
Net Rental Expense, Total	-	71.17M	84.75M	93.24M	107M
Imputed Operating Lease Interest Expense	-	59.43M	76.48M	83.69M	111M
Imputed Operating Lease Depreciation	-	11.74M	8.27M	9.55M	-4.42M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	945M	201M	323M	239M	82.15M
Short Term Investments	28.16M	392M	181M	379M	787M
Total Cash And Short Term Investments	973M	593M	504M	618M	869M
Accounts Receivable, Total	114M	137M	163M	183M	209M
Other Receivables	41.75M	38.18M	35.04M	42.33M	67.03M
Total Receivables	155M	175M	198M	226M	276M
Inventory	3.71M	5.45M	8.79M	10.93M	18.68M
Prepaid Expenses	1.84M	1.4M	1.96M	14.1M	25.51M
Other Current Assets, Total	13.14M	2.6M	7.93M	8.4M	8.79M
Total Current Assets	1.15B	777M	721M	877M	1.2B
Gross Property Plant And Equipment	1.37B	-	2.71B	3.71B	4.43B
Accumulated Depreciation	-161M	-	-622M	-963M	-1.36B
Net Property Plant And Equipment	1.21B	1.76B	2.09B	2.75B	3.07B
Long-term Investments	52.15M	-	-	-	4.17M
Other Intangibles, Total	292M	306M	313M	307M	317M
Accounts Receivable Long-Term	-	-	204K	5.76M	7.38M
Loans Receivable Long-Term	1.18M	-	-	-	-
Deferred Tax Assets Long-Term	8.25M	-	8.37M	10.73M	15.45M
Other Long-Term Assets, Total	90.58M	214M	61.66M	73.52M	71.93M
Total Assets	2.8B	3.06B	3.2B	4.03B	4.69B
Liabilities
Accounts Payable, Total	173M	66M	95.69M	181M	121M
Accrued Expenses, Total	41.36M	67.96M	78.41M	110M	132M
Short-term Borrowings	-	72.35M	-	-	-
Current Portion of Long-Term Debt	226M	173M	115M	424M	458M
Current Portion of Leases	7.93M	14.23M	14.61M	31.97M	46.81M
Current Income Taxes Payable	19.06M	4.99M	2.02M	4.96M	1.86M
Unearned Revenue Current, Total	-	-	-	-	5.5M
Other Current Liabilities	46.14M	53.73M	32.38M	31.18M	39.6M
Total Current Liabilities	513M	452M	338M	783M	805M
Long-Term Debt	808M	1.04B	1.09B	1.47B	1.94B
Long-Term Leases	27.43M	24.63M	31.93M	57.88M	68.65M
Unearned Revenue Non Current	-	-	-	-	115M
Deferred Tax Liability Non Current	-	5.71M	-	-	-
Other Non Current Liabilities	165M	171M	199M	197M	198M
Total Liabilities	1.51B	1.7B	1.66B	2.51B	3.13B
Common Stock, Total	1.31B	1.31B	1.34B	1.37B	1.4B
Retained Earnings	-	8.25M	71.82M	43.44M	63.74M
Comprehensive Income and Other	-27.53M	41.49M	121M	102M	84.1M
Total Common Equity	1.28B	1.36B	1.54B	1.52B	1.54B
Minority Interest	-	-	3.55M	3.55M	9.59M
Total Equity	1.28B	1.36B	1.54B	1.52B	1.55B
Total Liabilities And Equity	2.8B	3.06B	3.2B	4.03B	4.69B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.23B	1.31B	1.37B	438M	438M
ECS Total Common Shares Outstanding	1.23B	1.31B	1.37B	438M	438M
Book Value / Share	1.04	1.04	1.12	3.46	3.52
Tangible Book Value	992M	1.06B	1.22B	1.21B	1.23B
Tangible Book Value Per Share	0.81	0.8	0.89	2.76	2.8
Total Debt	1.07B	1.33B	1.25B	1.98B	2.52B
Net Debt	96.71M	733M	744M	1.36B	1.65B
Debt Equivalent Oper. Leases	-	569M	678M	746M	856M
Minority Interest, Total (Incl. Fin. Div)	-	-	3.55M	3.55M	9.59M
Account Code - Inventory Valuation	3	-	3	3	3
Land - (BS)	11.53M	-	30.73M	41.61M	41.1M
Buildings, Total	150M	-	3.92M	66.29M	87.56M
Machinery, Total	661M	-	1.32B	1.86B	2.99B
Full Time Employees	-	-	8K	9K	-
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	15.37M	3.13M	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-33.97M	67.53M	172M	60.79M	40.84M
Depreciation & Amortization - CF	110M	226M	303M	393M	492M
Depreciation & Amortization, Total	110M	226M	303M	393M	492M
Amortization of Deferred Charges, Total - (CF)	26.87M	28.07M	23.45M	18.84M	15.23M
(Gain) Loss From Sale Of Asset	122K	185K	12.81M	4.78M	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	-	7.83M	-	9.24M	8.11M
Provision for Credit Losses	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	2.57M	-	-	-	-
Provision and Write-off of Bad Debts	18.67M	30.08M	66.46M	73.74M	91.42M
Other Operating Activities, Total	27.78M	35.33M	-22.87M	-16.82M	-64.96M
Change In Accounts Receivable	-62.34M	-48.94M	-67.48M	-99.4M	-118M
Change In Inventories	-3.19M	-1.74M	-3.34M	-2.13M	-7.75M
Change In Accounts Payable	35.92M	-120M	29.69M	80.59M	-59.58M
Change in Unearned Revenues	-	-	-	-	121M
Change In Income Taxes	-48.41M	3.4M	49.47M	513K	4.96M
Change in Other Net Operating Assets	213M	20.03M	-31.8M	-8.08M	-7.46M
Cash from Operations	286M	247M	532M	515M	515M
Capital Expenditure	-816M	-825M	-398M	-931M	-685M
Sale of Property, Plant, and Equipment	-	-	16.8M	26.67M	6.47M
Cash Acquisitions	52K	-	-	-	-
Sale (Purchase) of Intangible assets	-188M	-28.34M	-65.9M	-63.67M	-66.29M
Investment in Marketable and Equity Securities, Total	-36.98M	-282M	221M	-131M	-354M
Other Investing Activities, Total	8.78M	11.98M	66K	-	-
Cash from Investing	-1.03B	-1.12B	-226M	-1.1B	-1.1B
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	664M	329M	96.62M	724M	943M
Total Debt Issued	664M	329M	96.62M	724M	943M
Short Term Debt Repaid, Total	-16.49M	-6M	-64M	-	-
Long-Term Debt Repaid, Total	-313M	-286M	-201M	-160M	-500M
Total Debt Repaid	-329M	-292M	-265M	-160M	-500M
Issuance of Common Stock	1.24B	-	-	25K	-
Repurchase of Common Stock	-	-	-	-4K	-
Common Dividends Paid	-	-	-19.6M	-64.53M	-15.3M
Common & Preferred Stock Dividends Paid	-	-	-19.6M	-64.53M	-15.3M
Other Financing Activities, Total	-	71.18M	4.95M	-	-
Cash from Financing	1.58B	109M	-183M	499M	428M
Net Change in Cash	834M	-768M	122M	-84.42M	-157M
Supplemental Items
Cash Interest Paid	87.55M	87.16M	121M	100M	230M
Cash Income Tax Paid (Refund)	1.52M	4.84M	10.75M	4.53M	10.62M
Levered Free Cash Flow	-876M	-673M	-78.3M	-498M	-364M
Unlevered Free Cash Flow	-825M	-595M	12.45M	-385M	-190M
Change In Net Working Capital	-29.56M	96.94M	16.47M	-76.24M	96.34M
Net Debt Issued / Repaid	335M	37.44M	-169M	563M	443M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	0.7	3.49	5.34	3.36	3.47
Return on Total Capital	0.85	4.05	6.09	3.86	4
Return On Equity %	-5.01	5.11	11.87	3.97	2.66
Return on Common Equity	-5.01	5.11	11.91	3.98	2.67
Margin Analysis
Gross Profit Margin %	41.02	42.04	46.7	42.1	42.47
SG&A Margin	33.82	23.59	23.65	29.22	28.44
EBITDA Margin %	16.58	36.01	42.52	37.38	40.17
EBITA Margin %	3.32	17.04	21.74	13.59	14.43
EBIT Margin %	3.32	17.04	21.74	13.59	14.43
Income From Continuing Operations Margin %	-5.44	7.04	14.02	4.26	2.44
Net Income Margin %	-5.44	7.04	14.05	4.26	2.43
Net Avail. For Common Margin %	-5.44	7.04	14.05	4.26	2.43
Normalized Net Income Margin	-4.06	6.78	9.65	3.5	1.7
Levered Free Cash Flow Margin	-140.34	-70.12	-6.38	-34.91	-21.69
Unlevered Free Cash Flow Margin	-132.23	-61.98	1.01	-26.98	-11.32
Asset Turnover
Asset Turnover	0.34	0.33	0.39	0.4	0.39
Fixed Assets Turnover	0.73	0.65	0.64	0.59	0.58
Receivables Turnover (Average Receivables)	6.79	7.66	8.19	8.25	8.56
Inventory Turnover (Average Inventory)	173.59	121.41	91.89	83.84	65.19
Short Term Liquidity
Current Ratio	2.24	1.72	2.13	1.12	1.49
Quick Ratio	2.2	1.7	2.08	1.08	1.42
Operating Cash Flow to Current Liabilities	0.56	0.55	1.57	0.66	0.64
Days Sales Outstanding (Average Receivables)	53.73	47.66	44.59	44.39	42.64
Days Outstanding Inventory (Average Inventory)	2.1	3.01	3.97	4.37	5.6
Average Days Payable Outstanding	152.13	78.06	44.86	61.68	56.57
Cash Conversion Cycle (Average Days)	-96.29	-27.39	3.7	-12.93	-8.33
Long Term Solvency
Total Debt/Equity	83.33	97.43	81.07	130.3	162.1
Total Debt / Total Capital	45.45	49.35	44.77	56.58	61.85
LT Debt/Equity	65.12	78.36	72.66	100.33	129.62
Long-Term Debt / Total Capital	35.52	39.69	40.12	43.57	49.45
Total Liabilities / Total Assets	54.12	55.47	51.82	62.23	66.85
EBIT / Interest Expense	0.26	1.31	1.84	1.07	0.87
EBITDA / Interest Expense	1.61	3.11	3.92	3.24	2.63
(EBITDA - Capex) / Interest Expense	-8.46	-3.49	1.18	-1.9	0.17
Total Debt / EBITDA	8.21	3.41	2.19	3.37	3.43
Net Debt / EBITDA	0.74	1.88	1.31	2.32	2.25
Total Debt / (EBITDA - Capex)	-1.56	-3.04	7.28	-5.76	52.02
Net Debt / (EBITDA - Capex)	-0.14	-1.68	4.34	-3.97	34.07
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	71.86	53.8	27.97	16.28	17.47
Gross Profit, 1 Yr. Growth %	51.71	57.6	42.18	4.82	18.52
EBITDA, 1 Yr. Growth %	11.43	233.94	51.12	2.22	26.24
EBITA, 1 Yr. Growth %	-59.63	689.3	63.3	-27.32	24.77
EBIT, 1 Yr. Growth %	-59.63	689.3	63.3	-27.32	24.77
Earnings From Cont. Operations, 1 Yr. Growth %	-264.37	-298.8	154.99	-64.69	-32.75
Net Income, 1 Yr. Growth %	-264.37	-298.8	155.44	-64.76	-32.82
Normalized Net Income, 1 Yr. Growth %	-287.18	-356.42	82.24	-57.77	-43.03
Diluted EPS Before Extra, 1 Yr. Growth %	-	-286.75	151.32	-67.66	-35.15
Accounts Receivable, 1 Yr. Growth %	62.37	20.44	19.13	12.33	13.87
Inventory, 1 Yr. Growth %	605.89	46.75	61.39	24.27	70.89
Net Property, Plant and Equip., 1 Yr. Growth %	139.49	45.77	18.88	31.6	11.65
Total Assets, 1 Yr. Growth %	208.24	9.26	4.55	26	16.38
Tangible Book Value, 1 Yr. Growth %	-3.46K	6.4	15.87	-1.07	1.44
Common Equity, 1 Yr. Growth %	1.65K	6.03	12.87	-1.23	1.76
Cash From Operations, 1 Yr. Growth %	70.37	-13.5	114.82	-3.09	-0.11
Capital Expenditures, 1 Yr. Growth %	103.71	1.15	-51.74	133.8	-26.4
Levered Free Cash Flow, 1 Yr. Growth %	262.93	-23.15	-88.36	536.59	-27
Unlevered Free Cash Flow, 1 Yr. Growth %	273.27	-27.91	-102.09	-3.19K	-50.73
Dividend Per Share, 1 Yr. Growth %	-	-	-	-	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	108.42	62.58	40.29	21.99	16.88
Gross Profit, 2 Yr. CAGR %	93.89	54.63	49.69	22.08	11.46
EBITDA, 2 Yr. CAGR %	46.35	92.9	124.64	13.3	13.6
EBITA, 2 Yr. CAGR %	0.45	78.51	259.01	9.37	-4.77
EBIT, 2 Yr. CAGR %	0.45	78.51	259.01	9.37	-4.77
Earnings From Cont. Operations, 2 Yr. CAGR %	152.57	80.77	125.15	-5.12	-51.27
Net Income, 2 Yr. CAGR %	152.57	80.77	125.35	-5.12	-51.34
Normalized Net Income, 2 Yr. CAGR %	134.76	119.08	116.17	-11.73	-50.95
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	116.64	66.6	-54.2
Accounts Receivable, 2 Yr. CAGR %	67.78	39.84	19.79	15.68	13.1
Inventory, 2 Yr. CAGR %	119.45	221.86	53.9	41.62	45.73
Net Property, Plant and Equip., 2 Yr. CAGR %	118.44	86.85	31.64	25.08	21.22
Total Assets, 2 Yr. CAGR %	179.91	83.52	6.88	14.78	21.09
Tangible Book Value, 2 Yr. CAGR %	392.7	498	11.03	7.07	0.18
Common Equity, 2 Yr. CAGR %	449.53	330.21	9.4	5.59	0.25
Cash From Operations, 2 Yr. CAGR %	196.04	21.39	36.31	44.29	-1.61
Capital Expenditures, 2 Yr. CAGR %	125.19	43.54	-30.14	6.22	31.17
Levered Free Cash Flow, 2 Yr. CAGR %	151.52	67	-70.1	-16.41	115.58
Unlevered Free Cash Flow, 2 Yr. CAGR %	156	64.04	-87.72	-19.58	290.5
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	100.15	88.34	50.11	31.78	20.46
Gross Profit, 3 Yr. CAGR %	103.78	80.95	50.36	32.92	20.88
EBITDA, 3 Yr. CAGR %	61.63	92.67	77.83	72.78	17.45
EBITA, 3 Yr. CAGR %	60.89	99.71	73.29	110.81	14.28
EBIT, 3 Yr. CAGR %	60.89	99.71	73.29	110.81	14.28
Earnings From Cont. Operations, 3 Yr. CAGR %	90.42	133.2	102.73	21.41	-15.4
Net Income, 3 Yr. CAGR %	90.42	133.2	102.85	21.41	-15.43
Normalized Net Income, 3 Yr. CAGR %	76.86	141.77	106.04	25.43	-23.72
Diluted EPS Before Extra, 3 Yr. CAGR %	-71.84	-	-	71.37	21.64
Accounts Receivable, 3 Yr. CAGR %	96.57	50.23	32.57	17.25	15.08
Inventory, 3 Yr. CAGR %	180.63	91.91	155.7	43.31	50.77
Net Property, Plant and Equip., 3 Yr. CAGR %	117.2	90.89	60.71	31.63	20.43
Total Assets, 3 Yr. CAGR %	162.14	104.57	52.13	12.91	15.31
Tangible Book Value, 3 Yr. CAGR %	327.83	195.6	246.04	6.84	5.16
Common Equity, 3 Yr. CAGR %	368.75	217.55	175.41	5.73	4.29
Cash From Operations, 3 Yr. CAGR %	123.72	96.44	46.83	21.66	27.64
Capital Expenditures, 3 Yr. CAGR %	117.36	72.46	-0.19	4.5	-6.01
Levered Free Cash Flow, 3 Yr. CAGR %	135.17	69.4	-31.28	-17.12	-20.1
Unlevered Free Cash Flow, 3 Yr. CAGR %	143.22	67.8	-61.67	-22.42	-31.69
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	95.1	73.63	59.12	35.81
Gross Profit, 5 Yr. CAGR %	-	148.14	80.13	56.31	33.39
EBITDA, 5 Yr. CAGR %	-	140.44	84.38	71.8	48.64
EBITA, 5 Yr. CAGR %	-	61.8	121.8	76.87	36.39
EBIT, 5 Yr. CAGR %	-	61.8	121.8	76.87	36.39
Earnings From Cont. Operations, 5 Yr. CAGR %	-	32.12	103.61	62.75	14.62
Net Income, 5 Yr. CAGR %	-	32.12	103.69	62.74	14.6
Normalized Net Income, 5 Yr. CAGR %	-	44.04	91.64	80.62	16.05
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-36.31	11.32	-
Accounts Receivable, 5 Yr. CAGR %	-	89.65	61.24	40.96	24.41
Inventory, 5 Yr. CAGR %	-	110.13	120.69	69.94	104.2
Net Property, Plant and Equip., 5 Yr. CAGR %	-	98.28	77.78	70.09	43.56
Total Assets, 5 Yr. CAGR %	-	98.24	83.1	63.5	38.86
Tangible Book Value, 5 Yr. CAGR %	-	110.21	149.43	131.17	110.76
Common Equity, 5 Yr. CAGR %	-	159.19	161.92	114.04	83.83
Cash From Operations, 5 Yr. CAGR %	-	154.94	83.5	92.35	25.1
Capital Expenditures, 5 Yr. CAGR %	-	73.28	38.04	44.33	11.34
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	3.07	29.83	8.57
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-26.32	25.32	-3