Telefonica sales down 9.5%, meets debt reduction target

Friday 8 November 2013 | 08:44 CET | News
Telefonica reported third-quarter sales down 9.5 percent year-on-year to EUR 14.06 billion, hurt by negative currency effects in Latin America and weak markets in Europe. On on organic basis, excluding forex and divestments, revenues rose 2.1 percent, an improvement compared to 0.5 percent growth in Q2 and a 1.6 percent decline in Q1. The company recorded 10.9 percent organic growth in Latin America and a 7.1 percent fall in Europe. OIBDA declined 12.6 percent to EUR 4.68 billion, and the margin dropped 1.2 percent points to 33.3 percent. Net profit was down 21 percent from a year ago to EUR

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Categories: General
Companies: Telefonica
Countries: Europe / Latin America / Spain
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