Convergencia Research, Consultoría especializada en Latinoamérica y Caribe
Thursday, February 25, 2021

Telefónica increased net profit by 38.5% in 2020 and managed to reduce debt by €2.516 billion

Revenues amounted to € 43.076 billion, 11% less than in 2019 due to currency devaluation and Covid-19. The pandemic had an impact on revenues of €1.905 billion last years: Hispam takes the worst share among Telefónica's operating markets, with an impact of €670 million. Thanks to the cash generation (€4.794 billion), Telefónica's net financial debt contracted and totaled €35.228 billion. Regarding the destination of Hispam, in the presentation of results, reference was made to a “gradual reduction of exposure to Hispam” and was announced that the portfolio in the region is being reviewed.


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