Telefonica


A fairly good third quarter, but a strategy that disregards dividends

12/11/26 -"Performance in Spain and Brazil was strong and in line with expectations. TEF Deutschland’s revenue decline narrowed, reflecting the end of customer migration from Telefónica to Vodafone. The group ..."

Pages
58
Language
English
Published on
12/11/26
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12/11/26
Q3 revenues were in line with expectations, rising 2.5% yoy, matching Q2 growth. However, Q3 EBITDA exceeded consensus by 4ppt, growing nearly 20% ...

12/11/26
Performance in Spain and Brazil was strong and in line with expectations. TEF Deutschland’s revenue decline narrowed, reflecting the end of customer ...

10/11/26
Vodafone delivered a good H1 performance. EBITDAaL rose 12.6% yoy and 6.4% organically, with a 50bp margin improvement. The group is raising its full ...

06/11/26
SES delivered a strong Q3 2026, with like-for-like revenue increasing 4.2% y/y and adjusted EBITDA rising 18.6%, supported by a recovery in Media, ...

EXECUTIVE SUMMARY

Updates Pension Risks
Target & Opinion Governance & Management
Business & Trends Graphics : Momentum
Money Making Graphics : MACD & Volumes
Debt Graphics : Sensitivities
Valuation Sector: Performance
DCF Sector: Key data
NAV/SOTP Sector: Ratios & Valorisation
Worth knowing Sector: Peers
Financials Sector: Analysis

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