Telefónica reported a 5.6% growth in operating revenues to EUR 14.324 billion for the first half of 2004, compared to the same period in 2003. First-half operating profit was EUR 3.421 billion, 21.4% more than in the year-ago period.
Some highlights:
- Telefónica enlarged its worldwide customer base by 12.6% to 103.8 million.
- The number of ADSL connections rose by 1.7 million net versus June 2003 to 3.7 million. The 2 million connections operative in Spain (+58.2% vs June 2003) equate to an estimated 74% share of the overall broadband market, while Telefónica Group’s 1.6 million retail clients give it 58% of this ADSL segment. In Latin America, ADSL connections now number over one million (0.6 million one year back), of which 0.6 million fall to Telesp (+58% year-on- year).
- Telefónica de España operating revenues rose 2.2% year-on-year to EUR 5.399 billion at the 1H04 close. Worth noting is the clear spurt in revenue growth in the second-quarter period, which owes in part to the rise in the monthly fee effective as of 01-April-2004.
- A geographical breakdown shows Spain representing 61.6% of the Group’s consolidated revenues at the end of the second quarter, though its weight had dropped 1.3 p.p. vs. June 2003 with the slack taken up by Brazil (17.6% vs. 16%). Latin America raised its share of total revenues by 0.9 p.p. to 33.1%.
- The Group’s net debt amounted to EUR 18.776 billion in June 2004, down by EUR 459 million down from the end of 2003 .
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