Telefonica Q3 OIBDA Up 1.6% In Organic Terms; Confirms 2021 Outlook - Quick Facts

(RTTNews) - Telefonica SA (TDE.L, TEF) said it performed strongly in third quarter, and maintained the momentum of year-over-year organic revenue and OIBDA growth for the consecutive quarter, with accelerating service and B2B revenue growth.

Third quarter OIBDA grew 39.8% in reported terms to 3.73 billion euros. OIBDA grew by 1.6%, in organic terms. Underlying OIBDA was 3.03 billion euros, down 13.7%. Net income was 706 million euros, or 0.12 euros per share, for the quarter.

In reported terms, third quarter revenues were 9.30 billion euros, down 11.1% from prior year. Revenues grew by 3.6%, in organic terms.

Looking forward, the company confirmed the financial targets set for the year: revenue and OIBDA to move between stable and slight organic growth; and CapEx to sales back to a normalised level of up to 15%.

Telefónica's net debt fell to 25.0 billion euros at the end of September, down 31.8% from a year ago. In the last quarter, debt fell by 4.6%.