Telefónica earned 760 million euros in the first half of 2023, 25.9% less, a comparison that is affected because during the first quarter of 2022 it registered the sale of its business in Colombia. Taking into account only the last quarter, between April and June 2023, profit grew by 44.5% to 462 million euros and revenue grew by 0.9%.
During the first six months, sales grew to 20,178 million euros, 3.7% more than in the first half of 2022. By markets, 27% of revenue was contributed by Spain; 20% from Brazil; 19% from Hispam; 18% from Germany; and 13% from the United Kingdom.
The gross operating result (Ebitda, which the company identifies as Oibda) for the first six months reached 6,266 million euros. By geographical areas, 30% came from Spain; 26% from Brazil; 17% from Germany; 14% from the UK; and 11% from Hispam.
The company claims to have left behind its biggest investment cycle, as shown by the evolution of operating cash, which grew 3.4% in the second quarter and 2.7% in the first half of the year.
Liquidity stood at 20,218 million euros at the end of June, "sufficient to cover the maturities of the next three years and have an average life of the debt of 12.4 years", according to the published information. In addition to these references, the company is well protected in the current context of tightening monetary conditions by having more than 80% of the debt at fixed rates.
The net financial debt stood at 27,479 million at the end of the semester, 3.9% lower than that registered in June 2022.
An upward trend in the business that has led the telecom chaired by José María Álvarez Pallete to revise upwards the financial objectives established for the whole of 2023. According to the information provided this Thursday to the National Securities Market Commission (CNMV), Telefónica intends to double the revenue target to achieve organic growth of 4%.
The new target for the operating result before amortizations (OIBDA) points to an organic increase of 3%, in the highest range of the forecasts announced at the beginning of the year. The goal of placing the investment ratio at around 14% remains unchanged.
The company has set November 8 as the date for organizing an investor day in which it will present a new strategic plan focused on three axes: Growth, Profitability and Sustainability "Telefónica prepares its 2023-2026 plan with a model of operational excellence around three axes: Growth, Profitability and Sustainability. The operator is in an advantageous position to capture all the growth opportunities of the digital age. Telefónica is not satisfied with adapting to the future, but has proposed to model it with a radical evolution. The new times find us well prepared to anticipate, give the best response and complete the challenging journey we undertook almost a hundred years ago. Our time has come. It is time for Telefónica. We are ready for the future”, assures the president of the company.
The results also allow Telefónica to confirm the distribution of the dividend corresponding to 2023, of 0.30 euros per share, payable in two tranches: in December 2023 and June 2024. In addition, the company will propose to the next General Shareholders' Meeting the amortization of the existing treasury stock as of June 30, 2023, a total of 1.4% of the company's share capital.
