Completion of Capital Increase
Oi concluded a capital increase where credit supporters and the Court-Supervised Reorganization Plan capitalized part of their credits, resulting in them holding just under 80% of the company's stockholders share and the election of a new Board of Directors.
Progress in Reorganization and Liquidity
The company restructured its financial debt, reduced net debt, and secured liquidity to manage cash consumption, despite impacts from legacy operations.
Oi Solutions Growth Potential
Oi Solutions, the main service component of new Oi, showed transformation in its revenue mix with strong sales of ICT solutions, covering over 80% of the largest companies in Brazil.
Significant Cost Reductions
Routine operating expenses were reduced by 16% year-on-year, with specific actions leading to reductions in sales, legacy operations, and personnel costs.
Increase in Cash Balance
The cash balance increased by 35% to R$1.8 billion at the end of the period.