LatAm helps boost Telefónica Móviles revenues 40.5%

28 Feb 2006

Spanish mobile group Telefónica Móviles (TEM) posted a 13.4% rise in net profit for 2005 on the back of continued strong growth in Latin America. Net profit for the year ending 31 December 2005 was EUR1.92 billion (USD2.27 billion) and operating income before depreciation and amortisation (OIBDA) climbed 23.4% to EUR5.82 billion, though the company said its results had been dented by a net charge of EUR89 million taken to cover the remaining value of its UMTS licence in Italy. (TEM) posted a 40.5% rise in revenues to EUR16.51 billion, on the back of the integration of the ten Latin American cellcos it acquired from Bellsouth in late 2004. At the end of 2005 (TEM) had 19.9 million subscribers in Spain, up 5%, and 71 million in Latin America, up 34%. The group said it would propose a dividend of EUR0.205 per share, up 6.2% on 2004.

Spain, Telefonica Moviles Group