Murtra anticipates a change of direction at Telefónica

MadridExtraordinary items once again mark Telefónica's annual accounts. If in 2023 the ERE in Spain and the situation in the United Kingdom led the first telecom Spanish: Telefónica to losses of 800 million euros, this time it is the subsidiaries in Latin America that cause it to close the 2024 financial year with losses of 49 million euros, as reported by the company this Thursday morning through the National Securities Market Commission (CNMV). Specifically, Telefónica explains that this negative result is due to the extraordinary provision of up to 2.2 billion euros to deal with the deterioration of the business on the other side of the Atlantic (in all countries where it is present except Brazil).

But the numbers presented this Thursday have been left in the background when the brand new president of the telecom, Marc Murtra has anticipated a change of direction for Telefónica. During the presentation of the results, while it is true that Murtra wanted to recognize the work done by his predecessor, José María Álvarez Pallete, he also anticipated that the company is facing a "new time" and that, for the manager, implies reviewing the company's current strategic plan, presented in November 2023 with horizon 2, it is very good work, but we want to adapt to the new times," Murtra said at a press conference. The company's intention is to present new lines of action in the second half of the year.

Murtra has already said that they will review all the company's business areas, but he has emphasized the consolidation of the telecommunications sector in Europe, where it stands out for its fragmentation compared to other markets such as the United States. "The telecommunications industry is going to be a very good time for the company, and it is a very good time for the company, but we want to adapt to the new times," he said at a press conference. telecoms "It is strategic," stressed Murtra, who has already anticipated that they will not be a "passive" asset in this European consolidation, but that they will "help lead." The director sees it as an essential step towards the vision of strategic autonomy that Europe yearns for. Regarding some specific operations, Murtra has limited himself by leaving the details for the strategic plan. BK_SLT_LNA~ Impact on Latin America

However, the company would have recorded an adjusted net profit of 2.304 billion euros if it had not taken into account these extraordinary items derived from the Latin American market. Precisely, on Monday the board of directors of Telefónica decided to approve the sale of its subsidiary in Argentina in Telecom, owned by Grupo Clarín and businessman David Martínez, for around 1.19 billion euros. One more step that is added to the agreement to transfer its business to Colombia, as well as the launch of the sale of its activity in Mexico and Uruguay. All in all, the company has pointed out that it has met its financial objectives and confirms the dividend of 0.30 euros per share in 2025, the same amount as in 2024. The telecom had a turnover of 41,315 million euros, 1.6% more than in 2023.