Overview

• Telefónica recorded a €1.355 billion net loss in the first half of 2025, driven by €1.913 billion of write-downs on its progressively divested Latin American subsidiaries.
• The company has completed sales of its Argentina and Peru units and signed agreements for Uruguay and Ecuador, while the Colombia disposal awaits regulatory approval.
• Excluding discontinued operations, net profit from continuing activities was €558 million, down 46% year-on-year, and Hispanoamérica revenues fell 2.9% in Q2.
• Telefónica México added 96,000 postpaid subscribers in H1 and grew service revenues by 4.2%, although second-quarter EBITDA declined 12.9%.
• Net financial debt fell 5.5% to €27.6 billion with liquidity at €18.6 billion, and the company reaffirmed its 2025 guidance and a €0.30 per-share dividend.