Telefónica earned € 8.137 Bn in 2021, up 20.7% vs yr-earlier; resumes cash dividend for 2022 of 0.30 €/Shr

Telefónica to reduce its reliance on HuaweiHeadquarters of Telefonica Germany

Link Securities | Telefónica today presented its results for the 2021 financial year, as outlined below:

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The company’s January-December 2021 results have achieved the upwardly revised annual financial targets in Q2’2021.

o Revenue and OIBDA; “stable or slight growth (year-on-year organic)”. Revenues +2.0% and OIBDA +1.4% in 2021.

o Return to normalized level of CapEx to sales ratio ex-spectrum of up to 15%. CapEx to sales to reach 14.2% in 2021.

For 2022, financial targets are:

o Revenues “low single-digit growth” and OIBDA “low single-digit growth”.
o CapEx (ex-spectrum) over revenues up to 15%.

Telefónica confirmed shareholder remuneration for 2021 and announced the following for 2022:
o The second tranche of the 2021 dividend (EUR 0.15 gross per share), will be paid in June 2022, through the voluntary flexible dividend method.

o 2022 dividend of EUR 0.30 gross per share in cash, payable in December 2022 (EUR 0.15 gross per share) and June 2023 (EUR 0.15 gross per share).

o Redemption of a total of 2.41% of shares representing treasury stock (as of 12/31/2021).

o For all of the above, the company will propose to shareholders at its AGM the adoption of the appropriate corporate resolutions.

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