• Telefonica Brasil S.A average ebitda margin for 2023 was 33.9%, a 7.15% increase from 2022.
• Telefonica Brasil S.A average ebitda margin for 2022 was 36.51%, a 5.61% decline from 2021.
• Telefonica Brasil S.A average ebitda margin for 2021 was 34.57%, a 15.93% increase from 2020.

Ebitda margin can be defined as earnings before interest, taxes, depreciation and amortization as a portion of total revenue.