Telefónica announced financial write-downs totaling EUR 16.2 billion for 2002 largely related to its 3G operations in Germany, Austria, Switzerland and Italy, as well as for operations in Mexico and Argentina. Telefónica’s operating revenues for 2002 were EUR 28.4 billion, down 8.5% from the previous year. Telefónica de España contributed the most to the company’s overall revenues (EUR 10.3 billion) followed by its cellular business (EUR 9.4 billion)
- Telefónica’s worldwide customer base at the end of 2002 was 84.7 million, up 15% from a year earlier.
- Telefónica had 1.4 million ADSL customers at the end of 2002, up by 850,000 customers from the previous year.
- Telefónica’s net debt totaled EUR 22.5 billion at the end of 2002, a decline of EUR 6.4 billion from the year earlier. Most of the reduction was provided by operating cash flow generated by the company.
- Telefónica CAPEX spending for 2002 was EUR 3.789 billion, down 52% from the previous year.
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