FIQE3: quote, dividends and indicators for Unifique Telecomunicações

Unifique Telecomunicações S.A. is a regional telecommunications operator founded in 1997 in the city of Timbó, in Santa Catarina, originally under the brand TPA – Timbó Provedor de Acesso. Its initial activity was the provision of dial-up internet, operated with an extremely lean structure and focused exclusively on its home municipality. In the 2000s, the company evolved to providing wireless internet, building its own towers, and in 2006 it began deploying its fiber optic network, starting in Timbó and later expanding to Rio do Sul and Ibirama. In 2014, already operating in several cities in Santa Catarina and providing wholesale IP links to small internet service providers (ISPs), the company adopted the Unifique brand, consolidating a positioning focused on regional expansion. At that stage, the corporate portfolio accounted for the majority of revenue, serving thousands of companies in the state, while the proprietary network reached around 80 municipalities.

Starting in 2016, Unifique Telecomunicações began diversifying its portfolio with the launch of TV Unifique, enabling the sale of bundles combining internet, fixed-line telephony and pay TV, with a lineup of more than 100 channels, à la carte options and high-definition content. This move was accompanied by intensive investments in FTTH (fiber to the home) networks, which increased the capillarity of its residential service and gradually shifted the revenue focus toward the individual consumer market. In parallel, the company built its own data center, inaugurated in 2018, and began to be recognized in ANATEL satisfaction surveys for the quality of its fixed broadband, receiving successive distinctions at state, regional and national levels. Recent history also includes an acquisition cycle between 2021 and 2025, with more than 21 transactions involving companies and customer bases in the South Region, which strengthened network density and the access base in markets where the company already operated. In 2020, the Unifique Data Center obtained Tier III certification from the Uptime Institute, raising the technical standard of the infrastructure offered to corporate clients.

Unifique Telecomunicações’ shares, traded on B3 under the ticker FIQE3, entered the capital markets in 2021, when the company carried out a primary share offering and went public. From that point on, the economic group was structured with subsidiaries that reinforce its activities in telecommunications and energy. Supernova Holding Ltda. operates in connectivity, network infrastructure and telecommunications services, while Sustentys S.A., in which Unifique holds a 70% stake, develops projects for the generation and commercialization of electric power and energy infrastructure. The corporate structure makes it possible to exploit synergies between the intensive energy demand for the data center and networks, and energy supply and efficiency solutions. In 2025, the company’s consolidated net operating revenue reached over R$ 1.18 billion, with net income close to R$ 209 million, fully attributable to controlling shareholders, reflecting a business model concentrated on recurring telecommunications services.

Unifique Telecomunicações’ business model is based on the provision of telecommunications services under a private regime, covering fixed broadband internet predominantly via fiber optics, fixed-line telephony, mobile telephony, pay TV, data center services and complementary connectivity and technology solutions. The network infrastructure is mostly proprietary, with a data transport backbone and fiber access networks, operating mainly in the states of Santa Catarina and Rio Grande do Sul, in addition to expansion into Paraná and radio frequency authorizations that also cover the State of São Paulo and the North Region of the country. The network uses standardized equipment and an architecture with multiple routes and redundancy, with around 80% of optical line terminals (OLTs) able to operate in GPON or XGS-PON, a technology that allows speeds of up to 10 Gbps. In 2025, approximately 80.2% of revenue came from residential customers, who subscribe to internet, fixed voice and pay TV plans via fiber, while the corporate segment accesses more complex products, such as dedicated internet, hosting, cloud and cybersecurity solutions.

In its product portfolio, Unifique offers fixed broadband with speeds that can exceed 5 Gbps, pay TV with packages segmented by content, fixed-line telephony service with a virtual cloud-based PBX and STFC licenses, as well as 4G and 5G mobile telephony with data plans of up to 100 GB. In addition, the company operates a Tier III-certified data center, with N+1 architecture in critical power, cooling and connectivity systems, and which uses energy from renewable sources. This data center supports a portfolio of solutions in cloud computing, storage, backup, disaster recovery, dedicated servers and hosting, with 24/7 monitoring by the IT Operations area. Value-added services include subscription telemedicine, with 24-hour care and a digital assistant based on artificial intelligence, camera monitoring with cloud storage and facial recognition and license plate reading features for special projects, home insurance in partnership with 180 Seguros, and smart home solutions focused on home automation and real-time energy consumption monitoring.

Unifique Telecomunicações’ geographic presence is concentrated in the South Region of Brazil, with a focus on Santa Catarina and Rio Grande do Sul, where it operates its own fiber optic and mobile network infrastructure. By December 2025, its own 5G/4G coverage reached 128 municipalities in these two states, serving an approximate population of 4.4 million inhabitants. The company began operating as a mobile network operator with its own network (MNO) in 2023 in these markets and, where it does not yet have its own network, it uses roaming on third-party networks. The 5G Sul consortium, formed with Copel Telecomunicações, secured in 2021 the right to use radio frequency in the 3,620 MHz to 3,700 MHz band in the South Region, with Unifique holding the authorizations related to Santa Catarina and Rio Grande do Sul for 20 years. In 2026, the acquisition of an 80 MHz license in the 3.5 GHz band in Paraná and a majority stake in Amazônia Serviços Digitais e Telecomunicações S.A. expanded the company’s regulatory reach to the State of São Paulo and the North Region, maintaining the original conditions of the 5G auction. As a counterpart, the company assumed investment commitments in Personal Mobile Service infrastructure in municipalities with up to 30,000 inhabitants in the South and North regions and in São Paulo, to be carried out between 2026 and 2030.

Unifique Telecomunicações operates in a regulatory environment defined by the National Telecommunications Agency (ANATEL), which regulates services such as the Multimedia Communication Service (SCM), the Conditional Access Service (SeAC) and the Personal Mobile Service (SMP). The company operates under a private authorization regime and is classified as a Small-Sized Provider (PPP), benefiting from differentiated regulatory treatment, especially under the General Regulation on Consumer Rights for Telecommunications Services and the General Regulation for Telecommunications Services, which consolidate obligations and simplify procedures for companies of this size. The company depends on authorizations to use radio frequency to operate SMP and is subject to coverage and service targets established in the 5G auction notice. In 2024, ANATEL authorized Unifique to operate as a TIM-authorized MVNO throughout the national territory, except in the states where it already operates with its own network, expanding the potential scope of its mobile offering.

In the competitive landscape, Unifique Telecomunicações operates in markets with the presence of large national operators, such as Claro, Vivo and TIM, classified as incumbents, and a large number of independent internet providers, the ISPs, which are multiplying on a national scale. The company qualifies as a PPP because it does not exceed a 6% share of the national market, but it has significant shares in some local markets. In December 2025, according to ANATEL data, its market share in Santa Catarina was 21.5% in fixed broadband, 24.0% in fixed telephony, 10.2% in pay TV and 2.1% in mobile telephony. In Rio Grande do Sul, it held 4.4% in broadband, 0.8% in fixed telephony, 0.2% in pay TV and less than 0.3% in mobile telephony, while in Paraná its share was considered negligible at that time. The competitive dynamics are fragmented, varying by municipality, and include many regional ISPs that, in some cases, lead the local market, making the competitive scenario more granular and demanding in terms of quality of service and operational efficiency.

From an operational standpoint, Unifique Telecomunicações builds and expands its fiber optic network mainly using the pole infrastructure of power utilities, based on proprietary projects and specific authorizations. The company maintains long-term relationships with several suppliers of optical cables, network equipment, OLTs, ONUs, switches, routers, electricity and data links, seeking technological standardization without dependence on a single supplier. In the mobile segment, it uses radio frequencies obtained in government auctions, core network hardware installed in its data center, software systems and base stations mounted on towers that are mostly leased. The company sells its services through digital channels, in-house teams and outsourced sales representatives, with sales carried out through call centers, in-person door-to-door service and a WhatsApp chatbot, a structure that supports the acquisition of new customers in areas already covered by the fiber and mobile network.