Oi delays 2022 financial results publication

Oi delays 2022 financial results publication

Troubled Brazilian operator Oi chose to postpone publishing its 2022 financial results, reported Reuters.

The company entered a second round of bankruptcy protection in March and stated its results were delayed due to ongoing negotiations with its financial creditors.

Preliminary results showed that Oi had consolidated revenues of BRL2.62 billion US$516.8 million, EBITDA of BRL320 billion, and cash flow of BRL3.22 billion.

Reuters reported the operator had entered into a note purchase agreement with financial creditors to establish terms and conditions for a court-approved debtor in possession financing of $275 million.

Oi collapsed under the weight of its debt and was forced to sell off assets to make payments.

The company reportedly filed for judicial recovery again to protect its cash and avoid bankruptcy.

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