Exhibit 1
The following is an excerpt of a free translation of the Monthly Activities Report of the Judicial Administrator appointed in the judicial reorganization proceedings of Oi S.A. –In Judicial Reorganization for April 2019 filed with the 7th Business Court of Rio de Janeiro on June 17, 2019. Due to the complexities of language translation, translations are not always precise. The original Monthly Activities Report was prepared in Portuguese, and in case of any divergence, discrepancy or difference between this version and the Portuguese version, the Portuguese version shall prevail. There is no assurance as to the accuracy, reliability or completeness of the translation.
4 Consolidated Financial information of the Companies undergoing Reorganization | EXECUTIVE REPORT |
FINANCIAL INFORMATION
4.1 Managerial Cash Flow Statement
4.1 MANAGERIAL CASH FLOW STATEMENT Monthly consolidated statement for the Companies undergoing Reorganization (unaudited) | EXECUTIVE REPORT |
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MANAGERIAL CASH FLOW STATEMENT
HIGHLIGHTS
| Statement |
APRIL 1st to 30th, 2019 |
○ Net Operational Cash Generation of the Companies undergoing Reorganizationwas negative in BRL 1,414 million in April 20/19
○ TheTaxes line recorded a cash output of BRL 1,221 million in April/2019, because of timely payment of the Fistel fee and of the concession charge.
○ Investments reached a threshold of BRL 540 million in April/2019.
○ Receiptshad a reduction of BRL 158 million in April/2019, adding up to BRL 2,090 million.
○ Payments increased BRL 1,143 million in April 19, reaching a level of BRL 2,964 million
○ TheCLOSING BALANCE of Caixa Financeiro das Recuperandas shrank BRL 1,396 million in April 19, totaling BRL 4,614 million
4.1 MANAGERIAL CASH FLOW STATEMENT Monthly consolidated statement for the Companies undergoing Reorganization (unaudited) | EXECUTIVE REPORT |
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4.1 MANAGERIAL CASH FLOW STATEMENT Monthly consolidated statement for the Companies undergoing Reorganization (unaudited) | EXECUTIVE REPORT |
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4.1 MANAGERIAL CASH FLOW STATEMENT Monthly consolidated statement for the Companies undergoing Reorganization (unaudited) | EXECUTIVE REPORT |
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4.1 MANAGERIAL CASH FLOW STATEMENT Monthly consolidated statement for the Companies undergoing Reorganization (unaudited) | EXECUTIVE REPORT |
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4.1 MANAGERIAL CASH FLOW STATEMENT Monthly consolidated statement for the Companies undergoing Reorganization (unaudited) | EXECUTIVE REPORT |
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| Statement |
APRIL 1st to 30th, 2019 |
Table 2 – Direct Cash Flow
In millions of BRL
CONSOLIDATED STATEMENT FOR THE COMPANIES UNDERGOING REORGANIZATION | NOVEMBER/17 | DECEMBER/17 | JANUARY/18 | FEBRUARY/18 | MARCH/18 | APRIL/18 | MAY/18 | JUNE/18 | JULY/18 | AUGUST/18 | SEPTEMBER/18 | OCTOBER/18 | NOVEMBER/18 | DECEMBER/18 | JANUARY/19 | FEBRUARY/19 | MARCH/19 | APRIL/19 |
Initial Balance – Financial Cash | 7,324 | 6,877 | 6,881 | 6,128 | 5,909 | 5,831 | 4,820 | 4,602 | 4,819 | 4,677 | 4,721 | 4,815 | 4,379 | 4,362 | 4,469 | 7,515 | 5,943 | 6,010 |
Receipts | 2,689 | 2,716 | 2,816 | 2,758 | 2,646 | 2,619 | 2,386 | 2,736 | 2,589 | 2,659 | 2,694 | 2,898 | 2,815 | 2,645 | 2,463 | 2,400 | 2,248 | 2,090 |
Clients | 1,873 | 1,905 | 1,825 | 1,691 | 1,855 | 1,780 | 1,799 | 1,734 | 1,836 | 1,731 | 1,681 | 1,756 | 1,807 | 1,697 | 1,628 | 1,541 | 1,572 | 1,570 |
Network Usage Services | 190 | 197 | 201 | 209 | 212 | 234 | 3 | 467 | 228 | 210 | 205 | 204 | 192 | 192 | 177 | 191 | 151 | 6 |
Dealers | 467 | 420 | 524 | 411 | 456 | 461 | 491 | 471 | 431 | 518 | 420 | 466 | 478 | 412 | 498 | 400 | 411 | 427 |
Other | 159 | 194 | 266 | 447 | 123 | 144 | 93 | 64 | 94 | 200 | 388 | 472 | 338 | 344 | 160 | 268 | 114 | 87 |
Payments | (2,752) | (2,560) | (3,239) | (2,578) | (2,231) | (3,109) | (2,213) | (2,223) | (2,383) | (2,279) | (2,276) | (2,751) | (2,432) | (2,285) | (2,733) | (2,805) | (1,821) | (2,964) |
Personnel | (142) | (236) | (234) | (177) | (140) | (303) | (179) | (147) | (186) | (170) | (140) | (137) | (133) | (244) | (200) | (172) | (144) | (320) |
Suppliers of Material and Services | (1,839) | (1,422) | (2,421) | (1,789) | (1,488) | (1,641) | (1,332) | (1,568) | (1,698) | (1,604) | (1,640) | (2,048) | (1,775) | (1,508) | (1,829) | (1,670) | (1,239) | (1,496) |
Material and Services | (1,645) | (1,222) | (2,215) | (1,575) | (1,277) | (1,401) | (1,325) | (1,101) | (1,470) | (1,393) | (1,433) | (1,842) | (1,581) | (1,315) | (1,649) | (1,478) | (1,087) | (1,490) |
Plant Maintenance | (324) | (345) | (341) | (309) | (331) | (375) | (302) | (283) | (312) | (297) | (299) | (332) | (347) | (425) | (406) | (344) | (305) | (324) |
Rent | (213) | (139) | (386) | (210) | (259) | (248) | (245) | (260) | (322) | (349) | (329) | (336) | (338) | (297) | (401) | (438) | (273) | (407) |
Data Processing/Printshops | (129) | (113) | (127) | (122) | (140) | (122) | (111) | (108) | (132) | (122) | (103) | (134) | (129) | (97) | (134) | (122) | (108) | (139) |
Call Center Customer Service/Billing | (228) | (157) | (147) | (126) | (188) | (143) | (128) | (104) | (140) | (138) | (104) | (138) | (147) | (163) | (129) | (155) | (113) | (135) |
Dealers | (102) | (105) | (103) | (105) | (104) | (101) | (105) | (99) | (111) | (108) | (109) | (112) | (116) | (110) | (115) | (115) | (105) | (100) |
Consultancy/ Audits/ Fees | (78) | (31) | (55) | (67) | (50) | (56) | (50) | (35) | (75) | (71) | (45) | (96) | (74) | (52) | (124) | (50) | (34) | (76) |
Other Services/Payments | (571) | (332) | (1,056) | (636) | (205) | (356) | (384) | (212) | (378) | (308) | (444) | (694) | (430) | (171) | (340) | (254) | (149) | (309) |
Network Usage Services | (194) | (200) | (206) | (214) | (211) | (240) | (7) | (467) | (228) | (211) | (207) | (206) | (194) | (193) | (180) | (192) | (152) | (6) |
Taxes | (652) | (633) | (621) | (628) | (527) | (1,172) | (698) | (518) | (531) | (507) | (516) | (551) | (543) | (576) | (683) | (566) | (524) | (1,221) |
Judicial Deposits | 20 | (224) | 43 | 53 | (11) | 8 | (4) | 11 | 50 | 46 | 40 | 41 | 55 | 75 | 34 | 51 | 91 | 78 |
Contingencies | - | 1 | (1) | - | (12) | - | - | (1) | (8) | - | (4) | (2) | (1) | (12) | (5) | (6) | (5) | (5) |
Mediation | (139) | (46) | (5) | (37) | (53) | (1) | - | - | (10) | (44) | (16) | (54) | (35) | (20) | (50) | (442) | - | - |
Investments | (391) | (190) | (554) | (430) | (519) | (536) | (434) | (377) | (370) | (363) | (339) | (582) | (421) | (344) | (603) | (482) | (384) | (540) |
Telemar | (184) | (89) | (272) | (200) | (215) | (278) | (182) | (170) | (154) | (178) | (147) | (222) | (193) | (174) | (234) | (208) | (172) | (230) |
Oi S.A. | (45) | (25) | (70) | (63) | (81) | (70) | (66) | (63) | (52) | (47) | (64) | (76) | (58) | (46) | (103) | (83) | (51) | (81) |
Oi Móvel | (162) | (76) | (212) | (167) | (223) | (188) | (186) | (144) | (164) | (138) | (128) | (284) | (170) | (124) | (266) | (191) | (161) | (229) |
Operating Generation | (454) | (34) | (977) | (250) | (104) | (1,026) | (261) | 136 | (164) | 17 | 79 | (435) | (38) | 16 | (873) | (887) | 43 | 43 |
Capital Increase | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 4,007 | - | - | - |
Pharol Agreement | - | - | - | - | - | - | - | - | - | - | - | - | - | - | (106) | - | - | - |
Intra-Group Transactions | - | - | - | - | - | - | 28 | 55 | 3 | (1) | - | - | - | 14 | - | - | - | - |
Financial Transactions | 7 | 38 | 32 | 24 | 26 | 15 | 15 | 26 | 19 | 28 | 15 | (1) | 21 | 23 | 18 | (685) | 24 | 17 |
Dividends and Interest on own Capital | - | - | 192 | 7 | - | - | - | - | - | -- | - | - | - | 54 | - | - | - | - |
CLOSING BALANCE – Financial Cash | 6,877 | 6,881 | 6,128 | 5,909 | 5,831 | 4,820 | 4,602 | 4,819 | 4,677 | 4,721 | 4,815 | 4,379 | 4,362 | 4,469 | 7,515 | 5,943 | 6,010 | 4,614 |