The group’s turnover amounted to 10.883 billion euros, an increase of 3.2%. By markets, Spain accounted for 28% of revenues, Hispam 20%, Brazil 18%, Germany 18% and the UK 14%. Operating income before depreciation and amortisation (Oibda) rose 2.1% to 3.753 billion euros, due particularly to Latin America, whose Oibda jumped 50%.
Sales grew in all markets, such as Germany, the UK and Spain, and double-digit growth in Brazil and Latin America. At the end of the first three months, net financial debt had fallen to 27.453 billion euros, 23.3% less than in March 2021. Of this total, more than 80% is at a fixed rate, so the company is protected against the possible increase in financing costs. The average maturity of the debt is 12.9 years. It also has a significant liquidity position of 22.302 billion euros and has covered its maturities beyond 2024.
Telefónica clocked up a net profit of 706 million euros, a decrease of 20%. The company has confirmed the dividend of 0.30 euros per share in cash for this year.
“Telefónica’s solid start to the year in a scenario of inflationary tensions and geopolitical instability is evidence of the company’s strength to face the most adverse situations,” said Chairman José María Álvarez-Pallete. He highlighted the closing of the Oi transaction in Brazil as one of the achievements of this quarter, as well as the agreement signed with DAZN for the rights to LaLiga.
