Wedoany.com Report-Nov. 9, Telefónica reported solid results for Q3 2025 and the first nine months of the year, showing organic growth in revenues and EBITDA, driven by strong performance in Spain and Brazil.

In Spain, Telefónica achieved robust commercial and financial results, supported by high-quality service. Fixed broadband accesses grew +2.4%, the highest quarterly increase in nine years, leading to revenue growth of +1.6%, EBITDA up +1.1%, and operating cash flow increasing +3.9%.

Telefónica Brasil reinforced its market leadership, posting revenue growth of +6.5%, EBITDA up +8.8%, and EBITDAaL-CapEx rising +13.6% in local currency. Telefónica Germany maintained positive commercial momentum, increasing the EBITDAaL-CapEx margin by +0.2 p.p. through efficiencies achieved during the quarter.

In HispAm, Telefónica continued its divestment strategy. In October, the sales of Telefónica Uruguay and Telefónica Ecuador were completed, joining previous divestments in Argentina and Peru. The sale of Telefónica Colombia is still pending.

Financially, revenues reached €8,958 million in Q3 and €26,970 million for the first nine months, reflecting organic growth of 0.4% and 1.1%, respectively. Reported revenues fell by 1.6% in the quarter and 2.8% year-to-date, mainly due to exchange rate effects. EBITDA rose organically by 1.2% in Q3 to €3,071 million and 0.9% to €8,938 million year-to-date. Reported EBITDA decreased by 1.5% in the quarter and 3.6% through September.

Net income for Q3 reached €276 million, including €271 million from continuing operations and €5 million from discontinued operations (Argentina, Peru, Uruguay, Ecuador). Year-to-date, Telefónica posted a net loss of €1,080 million, with continuing operations contributing €828 million and discontinued operations €1,908 million.

CapEx in Q3 amounted to €1,167 million (-7%), and cumulatively €3,170 million up to September, with a CapEx-to-sales ratio of 11.8%. EBITDAaL-CapEx rose +3.4% in Q3 to €1,252 million. Free cash flow from continuing operations reached €123 million in the quarter and €414 million year-to-date. Net financial debt stood at €28,233 million as of September 30.

Telefónica closed September with 350.2 million accesses, including 16.4 million fibre connections (+8%). The company maintains leadership in network infrastructure, with 82.6 million premises passed for FTTH (+9%) and 78% 5G coverage in core markets (+8 p.p.), reinforcing its differentiated position in telecommunications.

Overall, Telefónica’s results reflect steady growth and profitability, strong operational performance in key markets, continued network expansion, and strategic divestments in Latin America, supporting its long-term objectives in revenue generation, operational efficiency, and infrastructure leadership.