Telefónica has registered a net profit of 706 million euros until March, 20% less than in the same period last year due to changes in scope, but it has managed to grow revenues in all its markets.
The operator has billed 10,883 million euros, including its 50% stake in the United Kingdom subsidiary Virgin Media O2, which represents a total growth of 3.2%, driven by the double-digit rise in this item in Brazil (18, 1%) and Hispam (10.9%), according to the accounts published this Thursday in the National Securities Market Commission (CNMV).
Likewise, the operating result before amortization (Oibda) has been 3,753 million euros, 2.1% more, especially due to the fact that Hispam has shot up its Oibda by 50%.
This improvement in the indicators is due, in part, to the fact that the effects of the exchange rate have been favorable for Telefónica, unlike in recent years, and have added 242 million euros in sales and 95 million in Oibda.
The annual comparison will predictably be marked this year by the lack of extraordinary events such as the sale of the Telxius towers or the creation of the subsidiary with Liberty in the United Kingdom, which boosted profit to historical terms as of the second quarter.
By geographies, Spain has contributed 28% of revenue and 30% of Oibda, while Hispam has accounted for 20% of turnover and 16% of operating profit before depreciation.
Both Brazil and Germany have billed 18% of the group’s total, while their respective contributions to the operating result have been 21% and 16%. For its part, the United Kingdom has contributed 14% of revenue and 15% of Oibda.
The president of Telefónica, José María Álvarez Pallete, highlighted the company’s “solid start to the year” in a “scenario of inflationary tensions and geopolitical instability”
“Once again, it is confirmed that the Group’s strategic plan is correct and represents a valid and robust roadmap to be able to continue providing the best service to our customers”, underlined the manager.
For his part, the CEO, Ángel Vilá, highlighted some operations in the quarter such as the purchase of the British company Incremental, the operation of Oi in Brazil that will report 1,000 million euros in synergies or the agreement signed with Dazn to broadcast the entire LaLiga.
The operator closed the quarter with an access base of 368.3 million, 1.1% more than a year before, with a 20% growth in fiber customers and 4.3% in contract customers mobile.