Strategic vision

Man with an architectural model and virtual reality glasses

We create long-term value

We are transforming in order to meet the economic, social and environmental challenges in collaboration with our stakeholders


At Telefónica, we know that our customers are our raison d'être. That’s why we work every day in every area of the company to gain their trust through integrity, transparency and a straightforward approach in terms of our products and services and our interactions with them.
We work towards a Responsibility by design approach to our products and services.

Shareholders and institutional investors

Telefónica offers our shareholders growth and profitability in a way that is sustainable in the long term. We have the objective of maintaining a continuous, transparent and equal relationship with all the minority and institutional shareholders.
52 engagement activities and 1,150 investors contracted.


We have designed initiatives aimed at fostering the inclusion of diverse talent, to attract and retain high potential professionals, get the best out of our employees, ensure their well-being, boost innovation and become more productive.
El 58.4% of the employees recommend the Company as a good place to work.

Governmental and regulatory bodies

Telefónica has an open, transparent relationship with governments, regulators and international bodies. This is reflected in our Digital Manifesto, where we issue an appeal for the definition of a New Digital Compact centring on people which modernises the current policies, to achieve a fair, inclusive and sustainable digital transition.
We have presented it at more than 50 events in around twenty countries to institutions and regulators.

Strategic partners and suppliers

Telefónica works with its suppliers and partners, co creating and creating ecosystems around the business and jointly applying high standards of social and environmental management.
El 83% of the total volume of purchases was awarded to local suppliers.

Opinion leaders and media

We create close, trust-based relationships, founded on generating and transmitting truthful information, in a transparent, clear and responsible way.
7,000 interactions (10% more) through press releases, meetings and interviews.


Telefónica is aware that it must leverage the new opportunities offered by digitalisation in favour of societies and economies. We are a driver of the communities where we operate and we have a considerable economic and social impact on them.
For every euro of gross operating margin obtained in 2019, we generated 3.42 euros that contributed to the GDP of the main countries where we operate.

The three pillars of our strategy