The following is a summary of the Oi S.A. (OIBZQ) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Oi S.A. reported Q4 revenue of R$2.3 billion, marking a 13.1% reduction compared to the previous year.

• The company's core revenue accounted for approximately 70% of the total revenue, amounting to R$1.6 billion.

• Through a main growth lever, the company's fiber revenue saw a 1.9% YoY increase, reaching R$1.1 billion in Q4.

• There was an 8% reduction in operating costs and investments made by the company.

Business Progress:

• Oi S.A. focused on operational improvements, debt restructuring and legacy cost management, helping the company stay stable.

• The company managed to expand its fiber business, leading to an increase in connectivity by 111,000 in 2023.

• Oi concluded the negotiations with the CSX Consensus Commission, further aiding the company's restructuring of the business.

• A potential 70% reduction in financial debt and 80% reduction in take-or-pay credit shows progression in the company's restructuring attempts.

• The operating improvements focused on fiber and digital services, causing a 2% increase in fiber revenue due to customer base expansion.

• Looking forward, Oi expects a partial decision in the ongoing arbitration within four months and a final decision between 12 to 24 months.

• In an attempt to manage stock volatility, the company initiated a 10:1 reverse stock split.

• Oi plans to publish a new version of the reorganization plan which will be put to vote at a creditors' meeting in April.

• Despite challenges and pressures, operational improvements are expected in the acquisition processes and payment and collection management in the first half of the year.

More details: OI SA SPON ADR EACH REP 0.5 ORD (P/S) IR

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