Telefonica Q1 OIBDA Rises Organically By 1.1%, Revenues Up 6.7%; On Track To Meet FY Targets

(RTTNews) - Telefonica (TDE.L, TEF) reported first quarter net income of 298 million euros. OIBDA was at 3.12 billion euros at the end of March, a stable and constant level due to revenue growth and the focus on efficiency, the Group said. OIBDA increased organically by 1.1% despite inflationary pressures.

Revenues were 10.05 billion euros, 6.7% higher than in the same period of the previous year. Telefónica Tech's revenues rose 43.5% to 429 million euros.

At the end of the first quarter, net debt was at 26.44 billion euros, 3.5% lower than a year ago. At 31 March, free cash flow generation was 454 million euros.

Telefónica's customer base grew 4% between January and March to 383.6 million, with strong growth in fibre and mobile contract accesses.

"we are on track to meet our financial targets for the full year, and we can also confirm the dividend forecast for 2023. Telefónica continues to deliver on its commitment to reduce debt and continues to strengthen its balance sheet," said José María Álvarez-Pallete, CEO of Telefónica.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.