News
John Smaug
- February 22, 2024
Telefonica recently announced a shift to a net loss for the fourth quarter following one-off charges in its Spanish business and U.K. joint venture, despite forecasting an increase in revenue and earnings for the upcoming year.
Financial Overview
In the fourth quarter, the Spanish telecommunications group reported a net loss of 2.15 billion euros ($2.33 billion), compared to a profit of EUR525 million in the same period a year ago. Quarterly revenue slightly decreased by 0.5% to EUR10.15 billion.
Telefonica's underlying operating income before depreciation and amortization (Oibda) saw a 1.6% increase to EUR3.47 billion. Notably, the Spanish business experienced a small rise in underlying Oibda, marking its first growth since 2019.
Future Projections
Analysts predicted revenue of EUR9.99 billion, underlying Oibda of EUR3.335 billion, and a net loss of EUR742 million, while Telefonica anticipates approximately 1% revenue growth in 2024 along with earnings before interest, taxes, depreciation, and amortization growth between 1% and 2%.
Dividends Announced
The board declared a final dividend of EUR0.15 per share for 2023 and is set to distribute dividends totaling EUR0.30 per share for 2024.
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