MADRID (Reuters) – Spanish telecom operator Telefónica doubled its net profit by five in 2021, to 8.14 billion euros ($9.2 billion), thanks to capital gains from the sale of mobile phone towers and its subsidiary O2’s alliance with the company. British Virgin Media.
The company reported total operating profit (OIBDA in company accounting terms) of €13.02 billion in the twelve months ended December 31, on revenue of €39.28 billion.
Excluding the effects of capital gains, unusual declines and other non-recurring items, revenue rose 2% and operating profit by 1.4%, the company said, which aims to keep revenue and operating profit flat, flat, or increase slightly.
For several years, Spain’s largest telecom operator has been struggling with low profit margins, as well as pressure from investors at a time when it needs funds to fund 5G infrastructure.
For 2022, the company expects “low single-digit” growth – around 1-3% – in revenue and OIBDA, with “capital expenditures” or investment of up to 15% on sales.
The company confirmed the shareholder bonus for 2021 and said that it will pay 0.30 euros per share for the 2022 result, in two payments of 0.15 euros, one in December of this year and the other in June 2023.
Similarly, it will consume 2.41% of its capital.
(1 dollar = 0.8846 euros)
(Reporting by Inti Landauro; Editing by Rashmi Aish; Additional information by Tomás Cobos)
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