Telefonica 2020 revenues drop 11% to EUR43.1bn

25 Feb 2021

Spanish telecoms group Telefonica has reported revenues of EUR43.076 billion (USD52.347 billion) for the twelve months ended 31 December 2020, down 11.0% year-on-year on a reported basis. Group OIBDA for the year under review decreased 10.7% to EUR13.498 billion, while net income reached EUR1.582 billion in the twelve months under review, of which EUR911 million was generated during 4Q20. Further, Telefonica notes that its net financial debt was reduced by EUR2.516 billion to EUR35.228 billion in FY20, of which EUR1.449 billion was achieved in Q4 2020.

In operational terms, Telefonica reported consolidated mobile accesses of 266.287 million at 31 December 2020, of which 26.158 million were IoT accounts. In addition, the group reported 20.077 million broadband users, 28.243 million fixed telephony accounts and 8.060 million pay-TV subscribers.

Spain, Telefonica