Telefónica posts positive results in Spain

Juan Fernandez Gonzalez | 09 May 2014

After several quarters of being shored up by its Latin American business, Telefónica has finally confirmed positive results for Q1 2014 in Spain, thanks to its pay-TV and quad-play offers.

Telefónica's global income grew for fourth quarter in a row to reach €12,232 million, mostly driven by mobile data income, which grew 8% during first three months of the year.

Telefónica's profit reached €692 million in March 2014, consolidating its business in most areas. "The first months of the year confirms we are moving forward in our strategy for 2014, continuing our investments in infrastructures and networks and reinforcing the differentiation of our products and services," said César Alierta, Telefónica's president.

In Spain, the inter-annual figures still show a falling business, but Q1 raised the year's figures by 3.7%. Fibre and pay-TV are behind this improvement, with Movistar Fusion (Telefónica's quad-play offer) reaching a customer base of 3.2 million.

During Q1, 108,000 new clients were attracted to Telefónica's fibre plans which currently have 701,000 customers, nearly double the number in Q1 2013. Investment in improving the network is also growing. The company now reaches 4.1 million homes with FTTH and plans to achieve 7.1 million by the end of the year.

Since 2013, Movistar TV has gained 11% more customers. In Q1 it added 58,000, reaching 730,000 and consolidating Telefónica's pay-TV as Spain's second option, ahead of ONO but behind Canal+, which has recently been purchased by César Alierta's company.