Telefónica: Revenues and subs up, profit down
May 11, 2023
From David Del Valle in Madrid
Spanish telco Telefónica saw its profit fall by 57 per cent to €298 million even though revenues grew by 6.7 per cent to €10.04 billion in the first quarter of the year – with Brazil, Germany and UK being the best performing markets in terms of revenues with a growth of 17.5 per cent, 8 per cent and 3.9 per cent respectively.
OIBDA amounted to €3.1 billion with the company reducing debt by 3.5 per cent to €26.4 billion. Telefónica has increased its customer base by 4 per cent to 383.6 million, with FTTH growing by 16 per cent with total passed homes at 168.9 million.
In Spain, the company increased revenue by 0.3 per cent to €3.08 billion, reducing its churn rate by 0.9 per cent and increasing its ARPU by 1.7 per cent to €92.60, the highest in the Spanish market. FTTH in Spain represents 89 per cent of its customers with a global FTTH passed coverage of 28.3 million homes.