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Telefonica Deutschland H1 Loss Widens, Revenues Up; Backs FY View; Names New CTO

Telefonica Deutschland Holding AG (TELDF.OB,TFTHF.OB) reported Wednesday that its first-half net loss was 156 million euros, wider than net loss of 93 million euros in the prior year.

The operating loss for the first six month was 131 million euros, compared to loss of 74 million euros last year.

Operating Income before Depreciation and Amortisation or OIBDA adjusted for exceptional and regulatory effects reached 902 million euros, up 0.7% year-on year.

Revenue came in at 3.56 billion euros, an increase of 1.1% year-on-year helped by continued strong demand for handsets and the turnaround in mobile service revenue in the second quarter of 2019. Excluding negative regulatory effects, revenue was up 1.8%.

In the second quarter, total revenues were 1.79 billion euros, up 1.6% year-on-year.

Looking ahead, the company reiterated its full-year 2019 outlook.

Separately, the company announced that Mallik Rao will succeed Cayetano Carbajo Martin as its Chief Technology Officer as of mid of October 2019.

As a member of the Management Board, he will be responsible for the Company's mobile and fixed-network operations.

Carbajo Martin will take over a new role at the Spanish parent company following the successful completion of key milestones in the further development and improvement of Telefonica Deutschland's network infrastructure.

Mallik Rao has more than 25 years of experience in the international telecommunications industry. Since September 2015, he has been Vodafone Turkey's Chief Technology & Information Officer.

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