Telefónica Moviles predicts boost in 2005 revenues

30 Mar 2005

Spanish cellco Telefónica Moviles says that it expects its revenues grow by around a third in 2005, under new International Financial Reporting Standards. The company says that it expects revenues in its domestic market to expand by around 6% to EUR8.19 billion this year, with total group turnover likely to exceed EUR11 billion; operating income is expected to rise 6% year-on-year. Telefónica Moviles said that it predicts capital expenditure will reach EUR2 billion, from EUR1.62 billion in 2004, with much of that earmarked for the expansion of its networks in Spain and Argentina, and the integration of its Latin American operations with those that it recently acquired from BellSouth.

Spain, Telefonica Moviles Espana (Movistar)