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Telefonica reports 11.2% increase in Q3 revenues to EUR10.3bn

4 Nov 2022

Telefonica today (4 November) revealed that consolidated revenue for the third quarter of 2022 rose by 11.2% year-on-year to EUR10.343 billion (USD10.111 billion), while underlying OIBDA grew 8.5% to EUR3.293 billion on a comparable basis. The Spanish operator noted that the strong growth in revenues in 3Q22 was driven by double-digit increases in Brazil (up 29%) and Hispam (18.2%), as well as in Spain (0.2%) and Germany (6%), adding that Telefonica booked consolidated net income of EUR460 million in the period under review, compared to EUR706 million in the year-ago quarter.

In a statement, the company said: ‘The results obtained and the proactive management of the businesses, despite the unstable global scenario, make it possible for Telefonica to confirm the financial targets for 2022, revised upwards in the previous quarter’. In particular, Telefonica noted its commitment to investing in its networks and services. Including VMO2, investment exceeded EUR4.7 billion in 9M22, an increase of 5.6% y-o-y in organic terms, bringing the ratio to revenues to 13.8%, ‘in line with the target set for the year’.

Telefonica claims that in terms of fibre, it ‘continues to maintain its global leadership (with the exception of China) with more than 166 million real estate units passed with ultrafast networks (+6%), of which a total of 87.2 million are passed by the company’s own networks’. Of these, some 62.2 million are fibre-to-the-home (FTTH) – with 59.4 million connected directly to Telefonica’s (retail) network. Furthermore, 5G technology now covers more than 800 towns and cities in the UK, 75% of the population in Germany, 83% in Spain and 35 cities in Brazil.

At the end of the third quarter, Telefonica’s access base stood at 383.5 million, 5% more than a year earlier, with growth of 17% in high value accesses such as fibre and 8% in mobile contracts.

Spain, Telefonica

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