Telefónica Spain's Net Loss Widens, but Adjusted Profit Grows

　　Telefónica reported that its net loss widened in the fourth quarter of last year, partly due to asset impairments, but growth in its Spain and Brazil operations drove an increase in adjusted earnings.

　　The Telefónica Group said on Tuesday that its net loss was 3.24 billion euros, compared with a loss of 1 billion euros in the same period last year.

　　This result partly reflects asset disposal impairments and losses of approximately 255 million euros for the quarter, including non-cash goodwill impairments at Telefonica Tech and its Chilean subsidiary.

　　Adjusted EBITDA rose from 3.13 billion euros to 3.2 billion euros. The corresponding profit margin increased from 34.4% to 34.9%.

　　Revenue increased from 9.11 billion euros to 9.17 billion euros, mainly reflecting growth in the Spanish and Brazilian markets.

　　According to the company's compiled consensus, analysts had previously forecast revenue of 9.1 billion euros and adjusted EBITDA of 3.15 billion euros.

　　The board announced a dividend of 30 euro cents per share, the same as last year.

　　Telefónica expects its revenue growth rate in 2026 to be between 1.5% and 2.5%, with adjusted EBITDA growth also between 1.5% and 2.5%. The company expects free cash flow of about 3 billion euros.

Editor: He Yun