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May 14, 2015

Telefónica profits rise as O2 sale approaches

Revenues were down from Q1 2014.

By

Telefónica has reported its 2015 Q1 results, showing a rise in profit.

The Spanish telecom company saw net profits reach €1.8 billion, a rise of 162 percent.

Revenue sat at €11.543 billion, a fall from the figure of €12.232 billion for Q1 2014. The main revenues came from Spain, Brazil and Germany, which generated 66 percent of this sum.

Mobile accesses increased 13 percent to 252.8 million thanks to increases in mobile contracts. The quarter also saw Telefónica moving to sell O2 to Three owner Hutchinson Whampoa.

Telefónica’s Executive Chairman, César Alierta, commented "[the first-quarter results] reflect a solid beginning of this new cycle and are leveraged on the improved organic evolution of the business."

"Spain has already begun its return to growth after reporting in the quarter a year-on-year increase in accesses, which will gradually translate into growth in financials".

Alierta thanked shareholders for their support, "which has yet again been reflected in the success of our recent capital increases in Telefónica and Telefónica Brasil."

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