Telefónica continues to digest the impact of the sale of its businesses in Chile, Colombia, and Mexico, which has led to a first-quarter result showing losses of 411 million euros, 68.4% less than the 1,304 million lost at the start of 2025, when the company began its exit from Latin America.
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Without that financial impact, the adjusted net profit from continuing operations, which reflects the recurring result of the operations consolidated in the group, reached 482 million euros, according to information sent this Thursday to the National Securities Market Commission (CNMV).
In the first quarter of 2026, Telefónica generated revenues of 8,127 million euros, with a year-on-year growth of 0.8%. The adjusted operating result (EBITDA) reached 2,836 million euros in the first quarter, an increase of 1.8%.
Telefónica has also continued executing the divestment process in Latin America in the first quarter of 2026. In the first three months, it closed the exits from Colombia and Chile and, subsequently, at the beginning of April, signed the sale of Mexico, which is subject to closing conditions, such as regulatory approvals.
Net financial debt decreases by nearly 1,500 million euros and closes March at 25,342 million euros, 6.3% less than in the same period of the previous year.
“The first quarter figures reflect consistent and continuous execution thanks to the solid fundamentals of the businesses, the adequate level of investment, and the differential and high-quality network, along with an excellent customer experience. This, combined with our financial discipline, has significantly reduced debt in the quarter,” says Telefónica’s CEO, Emilio Gayo. The telecom company has indicated that the “solid” figures place it on track to meet its financial targets for the fiscal year.
These goals, defined in constant terms, consist of revenue and adjusted EBITDA growth between 1.5% and 2.5% year-on-year, an increase in adjusted operating cash flow after leases above 2%, an investment-to-revenue ratio of around 12%, free cash flow of approximately 3,000 million euros, and a reduction in leverage towards the 2028 target.
The first-quarter results also allow confirming the dividend of 0.15 euros per share in cash for 2026, to be paid in June 2027. Regarding the second tranche of the 2025 dividend, of 0.15 euros in cash per share and already approved by shareholders at the March year-end meeting, it will be paid on June 18.
