Oddo BHF - Telefonica SA (TEF) Telefonica : Q3 2024: better group FCF growth on non-recurring items

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Oddo BHF

Stephane Beyazian

Telefonica : Q3 2024: better group FCF growth on non-recurring items

>Q3 2024 results 1% with consensus - Q3 2024 revenues are down 3% y-o-y to € 10,023m, due to negative forex changes, and in line with consensus (consensus € 9,983m, ODDO BHF € 10,356m). Q3 2024 EBITDA was down 2.5% y-o-y to € 3,260m or 1% above consensus (consensus € 3,224m). EBITDAaL was down 3.4% at € 2,595m, also 1% above expectations (consensus € 2,564m, ODDO BHF € 2,683m).2024 targets are confirmed: revenue growth of 1%, EBITDA 1-2%A, FCF > 10%. The targets ...

07/11/2024 1 FR

Underlying

Telefonica SA

Telefonica is engaged in the provision of public or private telecommunications services, including ancillary or complementary telecommunications services or related services. Co.'s fixed business includes: traditional fixed telecommunication services, Internet and broadband multimedia services, data and business-aplications services, and wholesale services for telecommunication operators. Co. also provides a range of mobile and related services and products to consumer and business customers, including mobile voice services, value added services, mobile data and Internet services, wholesale services, corporate services, roaming, fixed wireless, and, trunking and paging.

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ES0178430E18 Madrid Stock Exchange Spain

Provider

Oddo BHF

Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

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Analysts

Stephane Beyazian

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