FINANCIAL RESULTS
JANUARY-DECEMBER 2019

The New Telefónica begins 2020 delivering profitable, sustainable and responsible growth.

“2019 was an important year for Telefónica.

We met our guidance, with all our core markets growing in organic terms.”

José María Álvarez-Pallete

Chairman & CEO - Telefónica S.A.

PRESS RELEASE

Telefónica increases Free Cash Flow 20.6% and reaches a debt reduction of 8% in 2019

The company starts 2020 advancing on the execution of its new strategy, focused on creating long term value

Highlights:

  • Sustainable growth: Telefónica revenues grew in organic terms for the sixth consecutive year, up +3.2% to 48,422M€ (-0.6% reported), mainly due to the sustained revenue growth in its main markets. Digital service revenues grew 17.1% in 2019.

  • Profitable growth: OIBDA grew +1.9% in 2019 in organic terms (€15,119M, -2.9% reported), backed by revenue growth and efficiencies from digitalisation and simplification. Telefonica captured more than €420m in digital transformation savings in 2019 and reached two-thirds of the €1bn target committed for the 2017-2020 period.

  • Responsible growth: Telefónica reported a stable accesses base of 344 million and improved customer satisfaction, which translated into an improvement in ARPU of 4.3% and a stable churn.

  • Net income, excluding extraordinary impacts of €2,432m, reached €3,574M (€1,142M in reported terms). The main impact comes from a €1,614m provision from restructuring expenses, mainly in Spain.

  • Free Cash Flow grew 20.6% up to €5,912M, reaching the highest level since 2013.

  • Net debt reduction for the 11th consecutive quarter, €37,744M, 8.1% below the level at December 2018, and close to €15,000M below June 2016. Including post-closing events, debt would be approximately €37,000M.

Report

Results Report January-December 2019

Data

Selected Financial Data January-December 2019

Presentation

Results Presentation January-December 2019

Infographic

Main business figures and indicators January-December 2019

48.422M€

Revenue

15.119M€

OIBDA

5.912M€

Free cash flow

344Millon

Accesses

2019 Results
At a glance!

TODAY’S ACTIVITIES

10:00 h – CALL CONFERENCE WITH ANALYSTS

The conference call, in which the most significant aspects of the results are discussed, takes place today at 10:00h (Madrid), 09:00h (London time), 04:00h (New York time)

12:30 h – PRESS CONFERENCE

Watch live the Press Conference about these 2019 Financial Results on YouTube. Live from Madrid, José María Álvarez-Pallete (Chairman & CEO), Ángel Vilá (COO) and Laura Abasolo (CFCO).