Overview
- The 2026–2030 program refocuses the group on Spain, Germany, the UK and Brazil, targeting revenue growth of 1.5%–2.5% annually to 2028 and 2.5%–3.5% to 2030, with similar EBITDA goals.
- Management rules out an equity raise and says growth will be funded through dividend discipline, efficiency gains and asset disposals, with no specific M&A deals announced.
- Telefónica aims for up to €2.3 billion in gross savings by 2028 and up to €3.0 billion by 2030 through operational simplification, technology upgrades and network switch‑off asset sales.
- The Latin America exit progressed with Uruguay and Ecuador closed in October and Colombia pending, and discontinued operations produced €1.909 billion in losses that drove a nine‑month net loss of €1.08 billion.
- The company will pay €0.30 per share for 2025 in two tranches, then €0.15 for 2026 in June 2027, align future payouts to 40%–60% of free cash flow, and it reported unanimous backing from SEPI, CriteriaCaixa and a Saudi investor as the stock fell about 10%.