Telefónica in Latin America reduced its income to 8.4 %
Hispam's operating result before amortization (oibda) was 502 million euros, 21.2 % less than last year
Telefónica Hispam, the division of the telecommunications company that groups its business in America except in the Brazilian market, in the first quarter of 2020 placed its income at 2,204 million, 8.4 % less than the 2,407 listed in 2019.
According to information supplied by the company, Hispam’s operating result before amortization (oibda) was 502 million euros, which is 21.2 % lower than the 637 million the previous year.
The forecasts in organic terms could represent a fall in turnover of 4.8 % and that of the Oibda by 10.6 %.
Given this scenario, the company has implemented a strategic plan focusing on the growth of the most profitable accesses, mainly on contracts and fiber, and on maximizing the value of its assets, which has resulted in year-on-year growth in oibda in Mexico due to the transformation of its operational model.
According to studies carried out in the Spanish-American market, in Argentina, revenues fell 2.1 % to 532 million euros, with an increase of 30.4 % to the drop; In Peru, the business decreased by 8.9% and the OIBDA by 17.2 %, the same happens in Chile where there was a decrease of 21.6 % and with an OIBDA of 29.3 %.
K.Villarroel
Source: bancaynegocios
