José M. Rodríguez Silva

Updated Thursday, February 22, 2024-07:50

  • Empresas Telefónica receives a mega-dividend of 40 million after the sale of 11 data centers in Latin America

Telefónica closed 2023 with losses

of 892 million euros

, compared to the profit of 2,011 million euros the previous year, due to the funds provisioned to face the


and the

asset write-down

carried out in its subsidiary in the United Kingdom.

During the last financial year,

the company recovered the threshold of 40,000 million euros in revenue

with 40,652 million euros in turnover, 1.6% more and the highest figure since 2020, after growing in all its markets.

This is the first time that the company has closed a year in the red since 2002, when it undertook a significant impairment of assets of more than 16 billion at the time to clean up its balance sheet after the dotcom bubble.

If the ERE is excluded, which will end with the departure of 3,420 workers, and the other extraordinary ones, the group would have closed the year with a profit of 2,369 million euros, 17% more.

Despite these extraordinary events, the company has met its financial objectives and

confirmed the 0.30 euros dividend

payable in December 2024 and June 2025.

"Telefónica continues to execute its roadmap, without stopping in the face of global macroeconomic uncertainty (...). In 2023, Telefónica has met all its financial objectives and decisively faces the commitments established in our strategic plan," the company said in a statement. president of Telefónica,

José María Álvarez Pallete


Among the group's positive news, the

behavior of the Spanish market

stands out , which has grown in profitability during the last quarter for the first time since 2019.

Likewise, the company has the next three years of debt maturities covered, keeping its former biggest concern under control.

The financial debt stands at 27,349 million euros, 2.6 times the Ebitda, after a slight rebound after purchasing the part that it did not control of its German subsidiary.