Telefónica’s profit increased fivefold last year compared to 2020 to 8,137 million euros, despite a 8.8% decrease in revenue to 39,277 million euros, the Spanish telecom operator announced on Thursday.
The rise in net income was driven by the sale of Telxius Towers and joint project Created in the UK, according to the company.
2021 was a “key year” for the operator, which reclaimed its positions in its four main markets: Spain, Germany, the United Kingdom and Brazil, confirmed Telefónica’s president, José María lvarez-Palelte, who highlighted the multinational’s return to the path of growth.
Revenue fell 8.8%, weighed down by the UK merger, falling by 60.8% after adjustments for the merger between O2 and Virgin.
Excluding this operation, the sales volume would have amounted to 42,839 million euros, according to the company.
By region, Telefónica Spain’s revenue increased by 0.1% to €12,417 million, in Germany it increased by 3.1% to €7,765 million, while in the United Kingdom it decreased by 60.8% to €2,628 million.
In Brazil, revenue decreased 6.9% to €6,910 million, and the Hispam unit increased 5.5% to €8,362 million.
Telefónica announced Thursday that it will be able to go ahead with fiber subsidiary FibreCo in Spain’s “low-density areas”, which will be able to open up a “significant minority stake” of potential investors, with a goal of reaching five million homes in the next three years. .
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