Telefónica sets growth targets

27 Apr 2005

Spain’s Telefónica has said it has set an annual revenue growth target of between 7% and 11% for the period 2005 to 2008. Operating income is expected to see growth of between 13% and 19% over the same timeframe. Meanwhile, the group’s 93%-owned cellular division, Telefónica Moviles, has revealed that it is targeting annual revenue growth of between 12% and 16% from 2005 to 2008, with an increase in operating income of between 15% and 19% per year over the same period. The firm’s executive chairman Antonio Viana-Baptista says the Telefónica Moviles group is expected to have 125 million subscribers worldwide by 2008, up from 78.2 million at the end of 2004, with much of the growth coming outside Spain.

Spain, Telefonica, Telefonica Moviles Group