The Diplomat
After closing partial sales of its fibre business in Brazil, Chile and Colombia, Telefónica is now working on a similar deal in Peru, one of Telefónica Hispam’s markets, which, after a restructuring process, has started to report organic growth in revenues and Oibda, reports Europa Press.
Laura Abasolo, Hispam’s president and group chief financial officer, announced the deal during the analyst conference at the end of July and stressed that Telefónica is seeking to “modulate its exposure to the region”, but made it clear that the company will not “mis-sell” its businesses in Argentina, Chile, Colombia, Mexico, Peru, Venezuela and Uruguay. He also underlined the “solid performance” of recent months and predicted an improvement as the pandemic subsides on the continent.
Telefónica Hispam accounted for 19% of the group’s revenues and 11% of its gross profit before depreciation and amortisation (Oibda). Specifically, the company had a turnover of 3,945 million euros in these markets, up 4.2% in organic terms, and had an Oibda of 769 million euros up to June, down 0.6% after growing in the second quarter. This is the first time in 15 quarters that Hispam has grown in revenues and Oibda in organic terms, according to Abasolo.
By markets, Chile and Colombia reported the highest Oibda (260 million euros and 192 million euros, respectively), while Argentina recorded the highest turnover with 870 million euros.
