Telefónica accelerates before the summer and earns 1,026 million in the first half

Telefónica closed the first half of the year with a profit of 1,026 million euros, "a figure that stabilizes the group's profits after the extraordinary results from the operations closed in the first half of 2021," according to the operator this Thursday, with an unavoidable reference to the particular data of the same period last year.

Then, when a record profit of 8,629 million was marked, around 7,400 were due to specific operations such as the closing of the merger of O2 and Virgin Media in the United Kingdom as well as the sale of the Telxius towers.

The company has updated its financial targets for 2022 upwards "thanks to

of the year", which has driven the organic increase in revenue by 4.2% and in OIBDA (similar to EBITDA) in 2.7%, when calculating the entire semester.

"The world is going through a period of economic weakness and it is now when Telefónica's behavior is even more valuable, with its solid fundamentals and results that

, quality and service to society", The president of Telefónica, José María Álvarez-Pallete, has exposed.

Part of the responsibility for the improvement in the share in recent times lies with the decrease in the group's heavy net financial debt, which as of June 30 stands at 28,817 million euros - if subsequent operations were considered, it would drop to 27,800 million.

Spain and Brazil, in the lead

28% of the income for the first semester comes from Spain;

19% from Brazil;

20%, from Hispam;

18% from Germany;

and 13% from the UK.

As for OIBDA, 30% is registered in Spain;

23%, in Brazil;

17%, in Germany;

15%, in Hispam;

and 15%, in the United Kingdom.

By country, in the second quarter of the year, Spain maintained average

(+3.1% year-on-year) and the churn rate fell to 1.1%, the lowest level low in the last six years.

Also in the second quarter, the 5G deployment plans in Germany have advanced "above expectations", and the integration of Oi's mobile assets "has strengthened the group's leadership in Brazil", which increases its revenues by almost one 35% in the second quarter, as explained by the company.

In the United Kingdom, "Telefónica advances in the objective of making VMO2 the leading operator" in that market, while, in Hispam, "the change in the operating model favors a double-digit increase in revenues (+18.4% )" between April and June.

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