Telefónica: 2020 net profit up 38.5% at E1,582m

(CercleFinance.com) - Full-year revenue amounted to 43,076 million euros, down 11% y-o-y.
In organic terms, sales were down 3.3% and 2.4% in its four largest markets.

The company recorded a gradual improvement in its commercial and operational activity in the last quarter of the year, with revenue of 10,909 million euros, it said.

Telefónica announced net profit of 1,582 million euros for 2020, up 38.5% y-o-y. Between October and December, net profit reached 911 million euros.

In the last quarter of 2020, free cash flow reached 1,993 million euros, 13.2% more than in the same period of 2019. Telefónica's net financial debt decreased by 1,449 million euros and by 2,516 million euros over the full year.


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