Telefonica CEO Jose Maria Alvarez Pallete pointed to initial success in implementing its new strategic plan through to 2026, as the operator’s net income soared by 79 per cent year-on-year in the first quarter of the year.
In a Q1 2024 earnings announcement, Telefonica stated net income rose to €532 million, while revenue was broadly flat at €10.1 billion. Net debt grew 7.7 per cent to €28.5 billion, mainly due to the acquisition of an additional stake in its unit in Germany. EBITDA increased 1.9 per cent to €3.2 billion.
Free cash flow, a key metric for its new Growth, Profitability and Sustainability strategic plan, was negative at €41 million.
The new strategic plan was unveiled in November 2023, with the company targeting an increase of 10 per cent in free cash flow, in addition to a 2 per cent rise in core earnings per annum until 2026.
Pallete said Telefonica had started the year with a solid strengthening of its business, supported by the deployment of a new roadmap and its strategic plan, pointing to improved revenue and commercial activity.
in addition to the numbers, Telefonica announced it has signed a non-binding mobile network wholesale agreement with Romanian operator Digi Communications, with a final agreement to be announced in the next few weeks. The pair’s current deal is set to end in September 2026.
The post Telefonica highlights 2026 strategic plan progress appeared first on Mobile World Live.
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