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CASH FLOW

Telefónica is an engine for economic, technological, and social development in the countries in which it operates.

In 2008, the company generated more than 69 billion € from its customers. These revenues enabled it to pay 6.767 billion € to its employees (5% more than in 2007), 10.336 billion € to Public Authorities (4% more than in 2007), 32.832 billion € to its suppliers (2% more than in 2007), and nearly 6.7 billion € to its shareholders (22% more than in 2007). This is the effect of wealth creation.

In 2008, Telefónica spent more than 4.6 billion € on technological innovation, which represents a 6% increase on 2007. Of this amount, 668 million € was invested in R&D, making Telefónica the sixth-biggest investor in this item among global operators and the leading company in Spain, with an investment 4 times that of the second-ranked company" The 2008 EU Industrial R&D Investment Scoreboard”.


NB:
-Figures in millions of euros.
-This information has been calcuated using payment figures.
-The information that appears on this page has been obtained from internal cash flow sources at the Telefónica Group, and checked by the auditor of the CSR report. The data mentioned could be affected by later events and changing impacts, which could modify their content. *For a detailed analysis of the Group’s financial performance please refer to the audited consolidated financial statements and accompanying notes.