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TELEFÓNICA Q2 Profit Declines; Revenue Down 5.6% In Organic Terms - Quick Facts

TELEFÓNICA (TDE.L,TEF) reported that its second quarter net profit to shareholders declined 50.7 percent year-over-year to 425 million euros. Earnings per share was 0.07 euros compared to 0.16 euros. Operating income before depreciation and amortisation (OIBDA) declined by 25.3% to 3.31 billion euros. In organic terms, OIBDA declined by 10.0%, for the quarter. Underlying OIBDA was 3.43 billion euros, down 19.5%, excluding mainly the impairment of goodwill allocated to T. Argentina. Underlying earnings per share was 0.12 euros compared to 0.16 euros.

Second quarter Group revenues declined by 14.8% year-on-year to 10.34 billion euros (a decline of 5.6% in organic terms or 3.8% in four core markets).

Telefónica said it remains on track to deliver 2020 outlook. The dividend for 2020 is confirmed at 0.40 euros, the first tranche of which is payable in December 2020 and the second tranche in June 2021. Also, the company reiterated its guidance for 2022.

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