Positive Financial Results in the First Semester
Telefónica has closed the first half of the year with an impressive net profit of 979 million euros, which represents a significant growth of 28.9% compared to the 760 million obtained during the same period of the previous year. This information is derived from the financial reports submitted by the company to the National Securities Market Commission (CNMV) at the end of July.
Sustainable Increase in Income
The sales of the company, under the direction of José María Álvarez-Pallete, amounted to 20,395 million euros between January and June, an increase of 1.07% compared to the 20,178 million collected in the first half of 2023. This positive trend is part of an efficient strategy to increase profitability.
Improvement in Ebitda and Operating Margin
Net operating profit, known as Ebitda, was 6,424 million euros, reflecting year-on-year growth of 2.5% compared to 6,266 million euros the previous year. This has allowed Telefónica to achieve an Ebitda margin of 31.49%, slightly higher than the 31.25% reported in the same period of 2023.
Increase in Debt and Investment Strategy
At the end of the first semester, the company’s net financial debt has risen to 29,240 million euros, increasing by 6.4% compared to the previous year. This figure is affected by a dividend of around 997 million euros to shareholders and net financial investments that have reached 1,057 million, mainly due to the acquisition of Telefónica Deutschland shares.
Prospects for the Future
The company has reaffirmed its financial goals for 2024, previously presented, with an expected increase in revenue of 1% in relation to the previous year. Both Ebitda and operating cash are expected to grow between 1% and 2% year-on-year, reflecting a solid and steady trajectory.
Commitment to Shareholder Remuneration
Telefónica has confirmed a dividend of 0.3 euros derived from the profits of 2024, which is distributed in two parts of 0.15 euros each, to be paid in December of this year and June 2025. Álvarez-Pallete has stressed that the positive metrics in revenue, Ebitda and customer satisfaction reflect the company’s commitment to profitable and sustainable growth.
Reduction in First Semester Investments
Capital expenditure (capex) during the first six months stood at 2,299 million euros, 3.9% lower than that recorded in the same period in 2023. This investment has been subject to a notable drop in the second quarter, where the figure reached 1,243 million euros, 8.9% less year-on-year.
