Telefónica turns 99 and announces closure of all copper exchanges

On 19 April 2024, exactly one year from now and on the date on which Telefónica will celebrate its first century of life, a network reconversion will have been achieved that will include the closure of a total of 8,532 copper exchanges (5,203 closures already communicated to which 3,329 will now be added). Thus, on the company’s 100th anniversary, the copper switch-off will be effective for all retail customers, who…


Telefónica asks EU to follow South Korean model: make Google, Amazon, Facebook, Apple pay for networks

Telefónica continues to lobby, along with the major European operators, for the GAFA (Google, Amazon, Facebook and Apple) to collaborate in investments to expand and improve telecommunications networks.Telefónica defends the South Korean model, a country with a regulation focused on ensuring that the players that generate the most traffic make a fair contribution to financing telecommunications networks. It is a policy that has led Netflix to file a lawsuit against…

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Telefónica earns €2,011 M€ in 2022, maintains dividend at €0.30/share

Main figures compared to Bloomberg consensus: Revenues €39,993M +1.8% in reported terms, +4% organic) vs. €39,686M estimated (+1.0%); Recurrent OIBDA €12,852M (-0.6% reported, +3.0% organic) vs. €12,747M estimated (+0.6%); OIBDA Margin 32.1% vs. 32.1% estimated, BNA €2,011M vs. €1,967M€ estimated. Free Cash Flow €4,566m vs. expected €3,786m. Net Financial Debt €26,687M vs. €27,020M expected (vs. €28,918M in 3Q 2022 and €26,000M at December 2021). Targets for 2023 are “low single…


Telefónica to collaborate with Saudi operator STC Group to develop business in Middle East and North Africa

Link Securities | Telefónica has signed a strategic partnership agreement with the Saudi Arabian telecommunications operator STC Group to develop joint business in the Middle East and North Africa. With the signing of this agreement, STC Group becomes a member of TEF’s Partners Program, an initiative of alliances with other operators launched by the Spanish company in 2011 and covering more than 65 markets in Europe, Latin America, the Middle…


Telefónica agrees 7.8% pay rise for its 13,000 employees in Spain

Renta 4 : The 13,000 employees linked to the Agreement of Linked Companies will receive a 7.8% raise in 2023 plus another €300 in October. This rise corresponds to the adjustment over the period 2019/2022, when the CPI had an accumulated rise of 12.5% and salaries rose by 6.5%, and to a rise of 1.5% in 2023. Work is also underway to update the salaries of non-agreement staff, which includes…

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Telefónica accelerates closure of its copper network scheduled for 2024

Bankinter| Telefónica will close 5,800 exchanges that serve landlines and broadband via ADSL between 2023 and 2024, and will replace them with fibre optic exchanges. After the process, Telefónica (TEF) will have ~3,000 fibre-optic exchanges that will replace the ~8,000 that made up the copper network. Opinion of Bankinter’s analysis team: The programme, although planned, accelerates the cost savings and efficiency gains of running a single, more robust fibre network….


The EC gives green light to Vauban, Crédit Agricole’s entry in Telefónica’s rural fibre optic arm

Bankinter | The European Commission (EC) has authorised the entry of Vauban Infrastructure Partners and Crédit Agricole in Telefónica’s rural fibre optic affiliate. The company, called Bluevia, will have the 3.5 million premises which has the group’s fibre optic and will roll out an additional 1.5 million fibre optic connections in the next two years. Bluevia will also signs provision of services contracts with Telefónica. The consortium formed by Vauban and CA…


Telefónica: a more bullish message on the telco sector than on other occasions

MS | The general feeling is that Telefónica’s message at the TMT 2022 was more bullish than on other occasions. The most important elements: Telefónica is managing the current volatile macro environment well. 2. A generalised hike in prices: the company’s prices are linked to inflation in Brazil, HISPAM and the UK. In Spain, the message has been very direct, speaking about raising prices to levels of inflation as well…

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Telefónica reassures the hybrid market

Telefónica has placed a new €750mn green hybrid bond with a coupon of 7.125% and a call option exercisable between August and November 2028. At the same time, Telefónica has launched an offer to exchange any and all of the €1.5bn still outstanding on the two hybrids with calls in March and September 2023. Thus, by redeeming all of the outstanding bonds, Telefónica will reduce its outstanding hybrid balance by…

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Telefónica increases revenues by 11.2% in the third quarter and reaches a net income of €1.486 billion up to September

Telefónica today presented results marked by accelerating revenue growth, which increased in the third quarter to €10.343 billion, 11.2% more yoy. A performance that has enabled the Group to achieve a net income of €1.486 billion in the first nine months of 2022. The results obtained make it possible for Telefónica to confirm the financial targets for 2022, revised upwards in the previous quarter. Telefónica also confirms the shareholder remuneration…