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Jun 30
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Telefonica Q2 2025 Earnings Report
Telefónica delivered solid results in Q2 2025, with organic revenue and EBITDA growth and improved free cash flow.
Key Takeaways
Telefónica posted a stable Q2 2025 with organic revenue growth of 1.5% and EBITDA up 1.2%. Despite FX headwinds, the company reported positive free cash flow and reaffirmed its 2025 guidance. Net income from continuing operations fell due to restructuring and non-recurring items.
Revenue for Q2 2025 reached €8.95 billion, down 3.7% reported, but up 1.5% organically
EBITDA increased 1.2% organically to €2.92 billion
Free cash flow from continuing operations was €505 million in Q2
Net income from continuing operations was €155 million, with EPS of €0.02
Telefonica
Telefonica
Telefonica Revenue by Segment
Telefonica Revenue by Geographic Location
Revenue by Segment
Telefónica España Revenue
CapyFin.comTelefónica Brasil Revenue
CapyFin.comTelefónica Deutschland Revenue
CapyFin.comTelefónica Hispam Revenue
CapyFin.comRevenue by Geographic Location
Spain Revenue
CapyFin.comBrazil Revenue
CapyFin.comGermany Revenue
CapyFin.comHispam Revenue
CapyFin.com Forward Guidance
Telefónica reaffirmed its full-year 2025 guidance, targeting organic growth in revenue and EBITDA, with a CapEx/Sales ratio below 12.5% and stable free cash flow generation.
Positive Outlook
- Revenue growth across core markets, especially Spain and Brazil
- Strong performance in B2B and IT services
- Free cash flow turned positive in Q2
- Net debt and leverage expected to improve in H2
- Full-year dividend of €0.30/share reaffirmed
Challenges Ahead
- FX impact weighed on reported results
- Net income declined due to restructuring and non-recurring charges
- Hispam remains under margin pressure despite improvement
- Partner business transformation impacting German results
- B2B and wholesale challenges in Colombia