Apresentation of 3rd Quarter 2009 Results

2. RESULTS
3Q09
Vivo Participações S.A.
November 05, 2009
05

3. HIGHLIGHTS
R$ billion
3Q09 3Q08 Δ%
Net Service Revenue 3.8 3.6 4.0%
Expenses (2.7) (2.7) -2.6%
Ebitda 1.4 1.3 6.0%
Ebitda Margin 34.4%
34 4% 32.5% 1.9 p.p.
32 5% 1 9 p p
Ebit 0.6 0.6 8.9%
Net Income – R$ million 340.0 133.9 153.9%
Cash Flow – R$ million 620.3 (216.2) n.a.

4. QUALITY INDICATORS
Customer Care Performance Index - IDA Vivo obtained the
100 maximum grade in
90 Player 1
Player 2 the Customer Care
80
70 Performance Index in
Player 3
l
60 the last three months.
50
Q
Quality Goals reached by Operators - PGMQ
y y p Q
100%
Player 1
Player 2
90%
Player 3
80%
70%
2007 2008 1Q09 2Q09 3Q09
Source: Teleco/Anatel.

5. Operating Performance

6. COMMERCIAL PERFORMANCE
CUSTOMERS - thousand Nationwide market leader
GSM + WCDMA: 80.7% of our
+ 6,570
customer base
+ 2,028
46,819 48,847 QoQ YoY
MARKET SHARE - %
42,277 9.267 2.5% 14.2%
9.044
8.115
31,2% 31,4%
30,5%
37.775 39.580 4.8% 15.9%
34.162 30,0%
29,3% 29,4%
3Q08 2Q09 3Q09 3Q08 2Q09 3Q09
Pre paid Post paid
Post paid Blended

7. SAC Blended
R$
+ 1.3%
- 7.2%
83
76 77
24%
23% 23%
31% 36%
38%
46% 40% 39%
Maintenance of rationality in
3Q08 2Q09 3Q09
Subsidy Comissions Advertising
the customers acquisition.

8. ARPU TREND
R$
- 10.2%
+ 0.4%
MAIN CAMPAIGNS 29.4
26.3 26.4
13,0
10,9 11,0
16,4 15,4 15,4
3Q08 2Q09 3Q09
Outgoing Incoming

9. MOU AND TRAFFIC TRENDS
MOU VOICE TRAFFIC
Million of minutes
0.0% + 16.1%
11.3% + 16.1 %
89 89 12,800 QoQ YoY
80 11,023 11,022
28 3.983 5.2% -0.5%
32
27 4.003 3.787
61 8.817 21.9% 25.6%
57 53 7.020 7.235
3Q08 2Q09 3Q09 3Q08 2Q09 3Q09
Outgoing Outgoing
Incoming Incoming

10. Financial Performance
Desempenho Financeiro

11. NET SERVICE
REVENUE
R$ million
$
+ 4.0%
+ 4.4%
3,644 3,630 3,789
1.654 1.679 1.710
1.569 1.531
.
1.463
1 463
QoQ YoY
Access and Usage 1.8 % 3.4 %
511 Network Usage 4.7 % -2.4 %
457
364
Data and VAS 11.7 % 40.1 %
57 31 37
Others 20.1% -34.9 %
3Q08 2Q09 3Q09

12. DATA AND VAS Data + VAS Revenue
REVENUE 13.5% of Net Service Revenue
40% YoY growth
76% YoY growth in Vivo Internet
INTERNET UNIQUE
REVENUE – R$ million
USERS* - million
+ 40.1% + 41%
+ 11.7% + 11%
511 9.1
457 QoQ YoY 8.2
365 237 5 % 31 %
6.5
225
181
190 236 24 % 76 %
134
49 42 38 -11 % -22 %
3Q08 2Q09 3Q09 3Q08 2Q09 3Q09
SMS + MMS Vivo Internet * Includes internet usage by handset (WAP)
and internet usage by Smartphones and
Others
Datacards (ZAP).

13. OPERATING EXPENSES*
R$ million
Service Rendered Goods Sold Selling Expenses
+9.3% + 4.9%
+2.8% -26.0% - 5.0%
+ 0.9%
835 888 913 615 814 899 854
451 455
3Q08 2Q09 3Q09 3Q08 2Q09 3Q09 3Q08 2Q09 3Q09
General and H.R. Fistel, Fust, Funtel
Administrative
Ad i i t ti +20.1%
+ 5.6% + 1.3%
- 5.9% - 4.1%
+10.6%
195 214 206 194 230 233
161 137 151
3Q08 2Q09 3Q09 3Q08 2Q09 3Q09 3Q08 2Q09 3Q09
* Excluding Depreciation.

14. EBITDA AND MARGIN
R$ million
$
BALANCE BETWEEN SALES
AND PROFITABILITY 34,4%
32,5%
Service Revenue YoY 4.0%
4 0%
30,4%
Costs YoY 2.6%
QoQ YoY
Ebitda YoY 6.0%
1.324 1.404 17.2% 6.0%
1.198
3Q08 2Q09 3Q09
EBITDA EBITDA Margin

15. CASH FLOW AND
EBIT
R$ million
CASH FLOW EBIT
1.010,8
607,2
557,4
620,3
620 3
375,9
3Q08
2Q09 3Q09
(216,2)
3Q08 2Q09 3Q09

16. NET RESULTS
R$ million
340,0
172,4
133,9
3Q08
Q 2Q09
Q 3Q09
Q

17. FINANCIAL RESULT,
,
GROSS DEBT AND NET DEBT
R$ million
FINANCIAL RESULT GROSS DEBT NET DEBT
- 11.7%
+ 6.0%
- 20.6%
- 10.3%
3Q08 2Q09 3Q09
55% 6,511.1
5,849.8
5,167.3 4.692,6
3.968,5 4.207,0
(90,8)
(90 8) 59% 72%
(110,4) 68%
(192,1) 41% 28% 32%
3Q08 2Q09 3Q09 3Q08 2Q09 3Q09
Short Term Long Term

18. CAPEX
R$ milhões
% Capex/Net Revenue
21,3%
15,4%
13,4%
868.4
606.8
606 8
548.7
Investments in 621
capacity and
i d 406
improvement of GSM 333
and WCDMA network 152 127
96 73 105 111
3Q08 2Q09 3Q09
Network Technology Others

20. RESSALVAS QUANTO A
CONSIDERAÇÕES FUTURAS
Algumas informações apresentam nossa visão de futuro e
perspectivas ou objetivos, tais como o crescimento da
base de assinantes, a distribuição dos vários serviços a
serem oferecidos e os resultados provenientes dos
mesmos. Essas informações estão sendo disponibilizadas
com o exclusivo intuito de elucidar como pretendemos
expandir nossos negócios, portanto elas não têm o
p g p
objetivo de propiciar projeções para o alcance de tais
objetivos
Muitos fatores podem distorcer nossos resultados reais
p
comparativamente aos objetivos que foram apresentados,
incluindo fatores políticos e econômicos brasileiros, o
desenvolvimento de tecnologias competitivas, o acesso
ao capital necessário para o alcance dos objetivos e o
surgimento de forte competição nos mercados em que
estamos presentes