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Telefonica Deutschland Q1 Loss Narrows, Backs FY20 View

Germany's Telecom company Telefonica Deutschland Holding AG (TELDF.OB,TFTHF.OB) Wednesday posted a reduced loss for the first quarter with 3.8 percent growth in revenues, and said it is confirming its guidance for fiscal 2020 across all metrics while closely monitoring COVID-19 impacts.

The Group's net loss in the first quarter narrowed to 44 million euros from last year's net loss of 107 million euros.

Meanwhile, underlying OIBDA before exceptional effects edged up 1.6 percent to 532 million euros, driven by the flow-through from MSR and fixed revenues. Underlying OIBDA margin stood at 28.8 percent in the quarter.

For the first quarter, the Group's revenue rose by 3.8 percent to 1.846 billion euros, with sustained trends across all revenue lines. Mobile service revenue grew 2.4 percent to 1.311 billion euros and Handset revenue grew 7.7 percent to 339 million euros on continued strong demand for high value handsets.

Meanwhile, Fixed-line revenue witnessed 6 percent growth to 193 million euros, supported by retail customer base growth on the back of strong VDSL demand.

Looking ahead to the fiscal 2020, the Group continues to expect revenue growth of flat to slightly positive (+3.8 percent) and underlying OIBDA to be broadly stable to slightly positive (+1.6 percent).

In addition, Telefonica Deutschland said it has invited shareholders to its first virtual AGM on May 20, to resolve upon the announced dividend proposal of 0.17 euros per share for the financial year 2019.

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