Telefonica SA

TEF: XMAD (ESP)

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Telefonica Earnings: Shy Growth Amid an Ongoing Corporate Reorganization

Javier Correonero

Jul 30, 2025

Telefonica confirmed its 2025 targets during its second-quarter results: organic growth in revenue and EBITDA, a capital expenditures to sales ratio below 12.5% for the full year, and similar free cash flow to that in 2024. Year-to-date EBITDA has grown a shy 1.2% organically.

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Telefonica SA

Telefonica Earnings: Shy Growth Amid an Ongoing Corporate Reorganization

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