Telefónica posts €1.36bn loss on LatAm divestments
July 30, 2025
From David Del Valle in Madrid
Telefónica, the Spanish multinational telco, has reported a net loss of €1.35 billion in the first half of the year, after adding an additional €51 million in the second quarter to the €1.3 billion loss recorded in Q1, largely driven by divestments in Latin America. Despite this, revenues reached €18.01 billion in the first six months, up 1.5 per cent organically. Revenue growth in Spain (+1.9 per cent) and Brazil (+7.1 per cent) stood out.
In business segments, the residential (B2C) unit generated €5.32 billion in revenue in Q2, up 2.1 per cent organically. The enterprise (B2B) division brought in €2.02 billion, marking an organic increase of 5.2 per cent. Wholesale revenues totaled €1.6 billion during the same period.
Across markets, Telefónica Spain saw a 1.9 per cent revenue increase in Q2 and achieved its highest net customer gain since Q3 2018. Telefónica Brazil posted sequential improvement in quarterly results in local currency, with revenue up 7.1 per cent and EBITDA up 8.6 per cent—its strongest growth since December 2023. Telefónica Germany continued to benefit from robust mobile performance, recording a 12.1 per cent increase in net profit compared to Q1.
Adjusted EBITDA rose 1.2 per cent in Q2 to €2.92 billion and was up 0.8 per cent for the first half of the year, totaling €5.86 billion. However, currency fluctuations led to a 4.8 per cent drop in reported EBITDA for the quarter and a 4.6 per cent decline for the half-year period.
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