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Telefónica Earned EUR 1,344 million in First 9 Months

Financial results News - Published on Thu, 07 Nov 2019

Image Source: telefonica
Telefonica announced result for Q3.Telefónica boosts revenue growth (+1.7% reported) compared to 3Q18, thanks to the improvement in Spain, Brazil and Germany, to the strong performance of the United Kingdom, and despite the negative impact of currencies. In organic terms, revenues grew 3.4%. Average revenue per user also increased in the quarter (+4.3% YoY organic) and churn rate improved.

Solid performance in main markets: Spain accelerated organic revenue growth in the quarter (+1%) thanks to the progress of the customer, businesses and wholesale segments, while Brazil achieved the highest revenue growth in the last 15 quarters (+2.6%). In addition, revenues grew 1.9% in Germany thanks to the good commercial momentum, and the United Kingdom reiterated its leading position in the market, with a clear improvement in accesses (6%) and sales (+4.1 %). This helped offset the drop in revenues in Hispam Norte, affected by competitive intensity.

Strong growth in digital revenues, +17.4% year-on-year in the July-September period, to a total of EUR 1,939 million.

Extraordinary items in the quarter: The third quarter of 2019 recorded EUR 1,876 million of provisions for restructuring expenses, mainly in Spain (EUR -1,732 million). These provisions, part of the process of transformation and simplification of the company, have not affected cash generation.

The company continued to deploy ultrafast networks: Telefónica's fiber reached 123 million premises passed, of which 54.5 million (+11%) pass through its own network. 4G coverage is close to 80%.

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Posted By : TelecomGuru on Thu, 07 Nov 2019
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