Telefonica: quarterly revenue up; reiterates forecasts
(CercleFinance.com) - Spain's Telefonica maintained its 2019 guidance on Tuesday as strong performance in its main markets powered its third-quarter revenues 3.
4% higher in organic terms.
The telecom group posted July-September revenues of 11.9 billion euros, up 1.7% year-on-year, and up 3.4% in organic terms.
However, its OIBDA (operating income before depreciation and amortisation) fell by 32% to 2.75 billion euros in the third quarter, due to restructuring costs, although grew by 0.8% in organic terms.
Telefonica still expects full-year OIBDA to grow by about 2% in organic terms, with revenues also up around 2%.
Citing a strong performance in Spain, Brazil, Germany and UK, Telefonica said it has generated free cash flow that was up 40% year-on-year in the first nine months of 2019, driving a reduction in net debt for the 10th consecutive quarter.
Its net debt stood at 38.3 billion euros at the end of September, down 8.1% year-on-year.
Telefonica - whose shares have significantly underperformed the IBEX 35 index so far this year - were down a further 2% on Tuesday.
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4% higher in organic terms.
The telecom group posted July-September revenues of 11.9 billion euros, up 1.7% year-on-year, and up 3.4% in organic terms.
However, its OIBDA (operating income before depreciation and amortisation) fell by 32% to 2.75 billion euros in the third quarter, due to restructuring costs, although grew by 0.8% in organic terms.
Telefonica still expects full-year OIBDA to grow by about 2% in organic terms, with revenues also up around 2%.
Citing a strong performance in Spain, Brazil, Germany and UK, Telefonica said it has generated free cash flow that was up 40% year-on-year in the first nine months of 2019, driving a reduction in net debt for the 10th consecutive quarter.
Its net debt stood at 38.3 billion euros at the end of September, down 8.1% year-on-year.
Telefonica - whose shares have significantly underperformed the IBEX 35 index so far this year - were down a further 2% on Tuesday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.