Telefnica enters losses because of the United Kingdom and the ERE, however exceeds 40,000 million in earnings | EUROtoday

Get real time updates directly on you device, subscribe now.


Telefnica closed 2023 with some plosses of 892 million eurosin comparison with the revenue of two,011 million euros from the earlier 12 months, because of the funds provisioned to face the ERE and the asset cleanup carried out in its subsidiary within the United Kingdom.

During the final fiscal 12 months, the corporate recovered the brink of 40,000 million euros of earnings with 40,652 million euros in turnover, 1.6% extra and the very best determine since 2020, after rising in all its markets.

This is the primary time that the corporate has closed a 12 months within the crimson since 2002, when it undertook a big impairment of property of greater than 16 billion on the time to wash up its steadiness sheet after the dotcom bubble. If the ERE is excluded, which is able to finish with the departure of three,420 employees, and the opposite extraordinary ones, the group would have closed the 12 months with a revenue of two,369 million euros, 17% extra.

Despite these extraordinary occasions, the corporate has met its monetary aims and confirmed the 0.30 euros dividend payable in December 2024 and June 2025.

“Telefnica continues to execute its roadmap, without stopping in the face of global macroeconomic uncertainty (…). In 2023, Telefnica has met all its financial objectives and decisively faces the commitments set out in our strategic plan,” the corporate mentioned in a press release. president of Telefnica, José María Álvarez Pallete.

Among the optimistic information from the group, the habits of the Spanish marketwhich has grown in profitability over the last quarter for the primary time since 2019.

Likewise, the corporate has lined the following three years of debt maturities, holding its former greatest concern underneath management. The monetary debt stands at 27,349 million euros, 2.6 instances the Ebitda, after a slight enhance after buying the half that it didn’t management of its German subsidiary.