Telefónica obtains a record net profit of 8,629 million with the sale of Telxius towers and the melting of O2 and Virgi Media

Telefónica obtained a record net profit of 8,629 million euros during the first semester of the year, which multiplies by ten the 831 million harvested in the s

Telefónica obtains a record net profit of 8,629 million with the sale of Telxius towers and the melting of O2 and Virgi Media

Telefónica obtained a record net profit of 8,629 million euros during the first semester of the year, which multiplies by ten the 831 million harvested in the same period of 2020, thanks to the capital gains from the melting closure of O2 and Virgin Media in United Kingdom and the sale of Telxius towers.

These are operations carried out to execute the Action Plan announced by the Group in 2019 and have allowed it to be posted only between March and June a benefit of 7,743 million, the highest in a quarter for the teleco.

As reported on Thursday, the company to the CNMV, the debt is also cut by half in the last five years, from the more than 52,000 million euros in June 2016 to 26,200 million in June.

"These results show that Telefónica is on the right path, executing its strategic plan as a critical accelerator in the process of transformation of the company," said Telefónica president José María Álvarez-Palleto.

Telefónica announced this Thursday also that it raises its objectives by 2021 and expects income and OIBDA "move between stabilization and a slight growth", and will propose the shareholders the amortization of 0.7% of the capital I had in coarper end of June.

Date Of Update: 03 August 2021, 19:20

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