Telefónica Spain increases the number of fiber, mobile and TV customers for the third quarter in a row

Telefonica Spain presented healthy behavior based on the results of the first quarter of 2024. A subsidiary whose development is in the spotlight of investors Because of the importance she has to the group, she grew in the first three years.

Telefonica Spain presented healthy behavior based on the results of the first quarter of 2024. A subsidiary whose development is in the spotlight of investors Because of the importance she has to the group, she grew in the first three years.for the month of the year in terms of net gains in four main customer categories: fiber optic (+12,000), contract mobile communications (+12,000), converged customers (+3,000) and pay TV (+7,000). These are modest numbers, but they confirm a change in trend, since this is the third quarter in a row in which all four quantities grew.

Moreover, as the operator had already foreseen, EBITDA increased again, as in the previous quarter. In the fourth quarter of 2024, EBITDA of the Spanish subsidiary increased by 0.1%, which represents the first increase in EBITDA since 2019, As a result, Telefónica Spain met forecasts indicating a gradual stabilization of EBITDA in the second half of 2023. Now that the trend is confirmed by EBITDA growth of 0.2% due to higher income and savings of more than 20 million euros associated with the departure on March 1 of the majority of employees adhering to the ERE workforce,

Revenue grew 1% year-on-year, driven by higher services revenue (+1.2% year-on-year) as terminal revenue, which was more volatile, fell 3.3%. Retail revenues increased by 1.6%, which reflects good commercial dynamics and updated tariffs for the population, as well as strong dynamics in IT sales in companies. Accordingly, retail earnings are slowing slightly (+2.7% in Q4 2023) due to lower growth rates in January 2024 than the prior year and lower year-over-year IT growth.