In 2025, Telefónica recorded losses of 4,318 million euros due to the accounting impact of the sale of the Latin American subsidiaries, the depreciation of assets and the cost of in Spain. , and are ranked as the second largest in its history after those suffered in 2002, which rose to 5,576 million euros. Discounting extraordinary items, the net profit from continuing operations – those businesses that remain within the group – would have reached 2,122 million euros.
The accounting loss recorded by was the item that most affected the results, with a negative impact of 2,269 million. The closing of the sales of has not been accounted for in the 2025 accounts. The restructuring costs followed, mainly due to the ERE approved at the end of 2025 and executed this year, which has meant The depreciation of assets, such as those of Virgin Media O2, the joint subsidiary with Liberty in the United Kingdom, represented another extraordinary negative item of 2,088 million.
Apart from these items not attributable to the group’s operating business, in the first year under the presidency of Marc Murtra, revenues grew by 1.5% to 35.12 billion euros. Free cash flow stood at 2,069 million euros, 26% less, while debt was reduced by 1,400 million to close 2025 at 26,824 million.
Among the subsidiaries, the performance of Telefónica Spain stood out, which, for the first time since 2008, recorded an increase in revenue, operating profit and cash generation. Revenue amounted to 13,012 million euros (+1.7%) and a net operating profit (Ebitda) of 4,691 million (+1.1%). In Brazil, reais (1,010 million euros), which represents an increase of 11.2% compared to the previous year. On the contrary, in the United Kingdom, VMO2 shot up its net losses to 1,617.7 million pounds sterling (1,852 million euros).
Telefónica has confirmed the dividend policy advanced in the presentation of the 2026-2030 Strategic Plan and that it is reduced to 0.15 euros gross per share compared to the usual 0.30 euros in previous years, which will be paid in a single tranche in June 2027. Before, on June 19, 2026, the second tranche of the dividend for the year 2025 will be paid (the first tranche of 0.15 euros was paid in December 2025).
[Noticia de última hora. Habrá ampliación en breve]
