| --- | --- | --- | --- | --- | --- | |------------------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | Results | | | | | | | January - September 2020 | | | | | | Disclaimer This document and any related conference call or webcast (including any related Q&A session) may contain forward-looking statements and information (hereinafter, the "Statements") relating to the Telefónica Group (hereinafter, the "Company" or "Telefónica"). These Statements may include financial for ...

Summary of Telefónica, S.A. Half Year 2020 Earnings Conference Call Company Overview - **Company**: Telefónica, S.A. (NYSE:TEF) - **Date of Call**: July 30, 2020 - **Participants**: - José María Álvarez-Pallete (Executive Chairman and CEO) - Ángel Vilá (COO) - Laura Abasolo (Chief Financial and Control Officer) - Pablo Eguirón (Head of Investor Relations) [2][6][7] Key Industry Insights - **Industry**: Telecommunications - **Context**: The call addressed the impact of the COVID-19 pandemic on the telecommunications sector, emphasizing the resilience and adaptability of Telefónica's operations during unprecedented economic uncertainty [8][9][10]. Core Financial Highlights - **Revenue**: - Total revenues for Q2 2020 were €10.3 billion, a decline of 14.8% year-on-year on a reported basis and 5.6% in organic terms [17]. - In core markets, revenues declined by 3.8% year-on-year [17]. - **OIBDA**: - OIBDA reached €3.3 billion, down 25.3% year-on-year or 10% organically [18]. - OIBDA minus CapEx was nearly flat, declining by only 0.7% in organic terms [18]. - **Net Income**: - Net income for Q2 was €425 million, with earnings per share at €0.23 for the first half of the year [18]. - **Free Cash Flow**: - Free cash flow improved sequentially in Q2, nearing €1 billion [18]. Operational Performance - **Customer Retention**: - Record Net Promoter Score (NPS) levels were achieved, indicating strong customer loyalty [8][12]. - **Cost Management**: - Operating expenses (OpEx) declined by 4.9% year-on-year in organic terms, while CapEx saw a 22.3% annual organic decline [12]. - **Digital Transformation**: - Digital sales increased by 53% year-on-year, with a significant shift towards online channels [49]. Strategic Initiatives - **Sustainability**: - Telefónica updated its target for net emissions to 0 by 2030, advancing from 2050 [13]. - **Asset Monetization**: - A €1.5 billion tower transaction in Germany was completed, doubling Telxius' scale to 33,000 towers [10]. - **Expansion in Tech Services**: - The tech services segment grew significantly, with cloud and cybersecurity revenues increasing by 27% and 20% year-on-year, respectively [33]. Market Outlook - **Guidance for 2020**: - The company reiterated a target of slightly negative to flat OIBDA minus CapEx growth year-on-year, with expectations of recovery based on observed trends in June and July [16]. - **Dividend**: - The 2020 dividend was confirmed at €0.40, payable in two tranches [15]. Challenges and Risks - **COVID-19 Impact**: - The pandemic resulted in an estimated revenue impact of nearly €730 million in Q2, with significant effects on roaming and service revenues [19][20]. - **Currency Depreciation**: - The depreciation of Latin American currencies against the euro negatively impacted revenues and OIBDA, with a €448 million impact on OIBDA [35]. Additional Insights - **M&A Prospects**: - Discussions around potential consolidation in the Spanish market were noted, with a focus on the ongoing transaction involving MásMóvil [66]. - **Future Investments**: - Continued investment in fiber-to-the-home networks and partnerships to enhance service offerings were emphasized [41][43]. This summary encapsulates the key points from Telefónica's earnings call, highlighting the company's financial performance, strategic initiatives, and market outlook amidst the challenges posed by the COVID-19 pandemic.

| --- | --- | --- | --- | --- | --- | --- | |--------------------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | Results | | | | | | | | January - June | | | | | | | | 2020 | | | | | | | Disclaimer This document and any related conference call or webcast (including any related Q&A session) may contain forward-looking statements and information (hereinafter, the "Statements") relating to the Telefónica Group (hereinafter, the "Company" or "Telefónica"). These Statements ma ...

Telefónica, S.A. (NYSE:TEF) Q1 2020 Earnings Conference Call May 7, 2020 4:00 AM ET Company Participants Pablo Eguiron - Head, IR José MarÃa Ãlvarez - Executive Chairman & CEO Ãngel Vilá - COO & Executive Director Laura Abasolo - Chief Financial & Control Officer Conference Call Participants Jakob Bluestone - Crédit Suisse Michael Bishop - Goldman Sachs Group David Wright - Bank of America Merrill Lynch Joshua Mills - Exane BNP Paribas Mathieu Robilliard - Barclays Bank Georgios Ierodiaconou - Citigroup Cha ...

| --- | --- | --- | --- | --- | --- | |---------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | Results | | | | | | | January - March | | | | | | | 2020 | | | | | | Disclaimer This document and any related conference call or webcast (including any related Q&A session) may contain forward-looking statements and information (hereinafter, the "Statements") relating to the Telefónica Group (hereinafter, the "Company" or "Telefónica") or otherwise. These Statements may include ...

Table of Contents As filed with the Securities and Exchange Commission on February 20, 2020 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________ FORM 20-F (Mark One) o REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF T ...

Telefónica, S.A. (NYSE:TEF) Q4 2019 Earnings Conference Call February 20, 2020 4:00 AM ET Company Participants Pablo Eguiron - Head of Investor Relations José María Álvarez-Pallete - Chairman & Chief Executive Officer Ángel Vilá - Chief Operating Officer Laura Abasolo - Chief Finance & Control Officer Conference Call Participants Jakob Bluestone - Credit Suisse Michael Bishop - Goldman Sachs Carl Murdock-Smith - Berenberg Mathieu Robilliard - Barclays Joshua Mills - Exane Soomit Datta - New Street Research. ...

00 00 0 Telefonica RESULTS JANUARY | DECEMBER 2019 Disclaimer This document and the Q&A session may contain forward-looking statements and information (hereinafter, the "Statements") relating to the Telefónica Group (hereinafter, the "Company" or "Telefónica") or otherwise. These Statements may include financial forecasts and estimates based on assumptions or statements regarding plans, objectives and expectations that make reference to different matters, such as the customer base and its evolution, growth ...

Telefónica, S.A. (NYSE:TEF) Q3 2019 Earnings Conference Call November 5, 2019 4:00 AM ET Company Participants Pablo Eguiron - Head of Investor Ãngel Vilá - Chief Operating Officer Laura Abasolo - Chief Finance & Control Officer Conference Call Participants Joshua Mills - Exane Mathieu Robilliard - Barclays David Wright - Bank of America Nawar Cristini - Morgan Stanley Mandeep Singh - Redburn Jakob Bluestone - Credit Suisse Michael Bishop - Goldman Sachs Jerry Dellis - Jefferies Operator Ladies and gentlemen ...

80 00 0 Telefonica RESULTS JANUARY | SEPTEMBER 2019 Disclaimer This document and the Q&A session may contain forward-looking statements and information (hereinafter, the "Statements") relating to the Telefónica Group (hereinafter, the "Company" or "Telefónica") or otherwise. These Statements may include financial forecasts and estimates based on assumptions or statements regarding plans, objectives and expectations that make reference to different matters, such as the customer base and its evolution, growth ...