Spanish market comes top for Telefónica sales
Juan Fernandez Gonzalez | 26-07-2013
Telefónica's profit fell 0.9% in the first half of 2013, during which time the company reported a net balance of €2,056 million.
The entire business is worth over €28,500 million, representing a 7.8% drop in the reported growth. However, Telefónica insists that the results are similar those expected.
The Latin American markets have lost their leading position in Telefónica's business and have been taken over by Spanish business. In Spain, Telefónica achieved sales of over €6,500 million, still a 15% drop, while Brazil, which was until now the company's motor, invoiced €6,400 million.
For the whole Latin American region, Telefónica's income fell 1.9% to €14,600 million. In Europe, the telco invoiced €13,390 million, an 11.2% drop during first half of 2013.
The company cites the wide customer base it has all over the world as being one of its strengths - Telefónica increased its subscriber base by 1.8% and currently has over 317 accesses in the world.
Regarding debt, the company keeps reducing this by restructuring its markets. The telco currently has a net debt of nearly €49,800 million, €1,400 million less than six months ago.
Telefónica recently sold 40% of assets in Central America and its whole Irish subsidiary. It has also announced the purchase of E-Plus, KPN's mobile business in Germany, through which it has taken a leading position in that country. Thanks to these financial movements, among others, the company has decreased its debt by nearly €10,000 million during the last year.