Telefónica’s net income reaches €532m in 1Q24, up 79%


Telefónica today presented its results for the first quarter of 2024, a period in which it reported net incomeof €532 million, 78.9% higher year-on-year. In this first quarter of the implementation of the GPS (Growth, Profitability and Sustainability) plan.

Telefónica increases its revenues to €10,140 million (up 0,9% versus 1Q23). The company accelerates EBITDA growth to 1.9%, up to €3,205 million. The Group confirms targets for 2024: revenue growth of around 1% and EBITDA and operating cash flow growth between 1% and 2%; a CapEx over revenue ratio of up to 13%; and a FCF increase of more than 10%.

The company also ratifies the shareholder remuneration for 2024, with a dividend of €0.30 per share payable in two tranches of €0.15 in December 2024 and June 2025

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