2023-05-11 07:48:40
Telefónica billed 10,045 million euros in the first quarter of this year, 6.7% more than the 9,410 million euros reported in the same period of the previous year, as reported by the company on Thursday to the National Securities Market Commission (CNMV).
In this way, the firm chaired by José María Álvarez-Pallete placed its quarterly turnover above market forecasts, which estimated revenue for the period of between 9,700 and 9,800 million euros.
Thus, the operator has highlighted that these results consolidate the positive performance in the first three months of the year of its main subsidiaries. In Spain, its revenues increased by 0.3%, to 3,088 million euros, in Germany they grew by 8% (2,101 million euros) and in Brazil the turnover until March stood at 2,282 million euros (+17.5% YoY).
Likewise, in the United Kingdom it improved its levels of organic growth, up to 2,947 million euros, and Hispam continued to evolve in its objective of achieving a modulated and sustainable exposure to the region.
In this context, the company also presented general increases in revenue in all segments and business units in the first quarter of the year “despite inflationary tensions.”
On the other hand, Telefónica’s net profit was 298 million euros (-57.9% year-on-year), when the market consensus was between 300 and 305 million euros.
In this sense, three factors (none related to commercial and business activity) explain the decrease in net profit, as indicated by the company.
On the one hand, in the first quarter of 2022, a capital gain of 200 million was recorded for the sale of 60% of its fiber subsidiary in Colombia to KKR, while “financial factors” also had an influence, such as the update of the commissioning equivalent to Virgin Media O2, which this time subtracts 188 million euros, when in the first quarter of 2022 it added 72 million.
Added to this is a higher tax contribution, given that Telefónica paid more taxes in the first quarter of the year, specifically, 162 million euros, when in the same period of the previous year it paid 94 million euros.
Likewise, the operating result before amortizations (Oibda) stood at 3,121 million euros at the end of the first quarter (-2.4% year-on-year), “achieving a stable and constant level thanks to the growth in income and the focus on the efficiency,” the company said.
“We have started the year strong, despite the enormous challenge posed by the global economic environment. We continue to execute our strategic plan and add another quarter of accelerated revenue growth in all the regions in which Telefónica is present”, highlighted Álvarez-Pallete.
In addition, he highlighted that the company is on the right track towards meeting its financial targets for the year as a whole. “We can also confirm the dividend planned for 2023. Telefónica continues to meet its debt reduction commitment and continues to strengthen its balance sheet thanks to its ability to anticipate,” added the company’s first sword.
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