Telefónica, S.A. (TEF)

Telefónica Income Statement

Financials in millions EUR. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating Revenue	40,869	40,652	39,993	39,277	43,076	48,422
Other Revenue	-	-	-	-	873	890
Revenue	40,869	40,652	39,993	39,277	43,949	49,312
Revenue Growth (YoY)	3.07%	1.65%	1.82%	-10.63%	-10.88%	-0.40%
Cost of Revenue	20,318	20,418	18,369	18,991	18,294	19,968
Gross Profit	20,551	20,234	21,624	20,286	25,655	29,344
Selling, General & Admin	160	155	182	80	89	123
Other Operating Expenses	8,995	8,932	9,327	9,510	11,551	13,265
Operating Expenses	17,965	17,884	18,305	17,987	20,999	23,970
Operating Income	2,586	2,350	3,319	2,299	4,656	5,374
Interest Expense	-2,184	-2,041	-1,941	-1,564	-1,513	-1,903
Interest & Investment Income	467	545	409	205	197	306
Earnings From Equity Investments	-2,130	-2,162	217	-127	2	13
Currency Exchange Gain (Loss)	243	11	-86	50	182	121
Other Non Operating Income (Expenses)	-465	-465	166	-145	-509	-356
EBT Excluding Unusual Items	-1,483	-1,762	2,084	718	3,015	3,555
Merger & Restructuring Charges	-	-	-	-	-	-1,733
Impairment of Goodwill	-58	-58	-	-416	-519	-206
Gain (Loss) on Sale of Assets	159	250	741	11,442	302	1,102
Asset Writedown	-	-	-77	-	-375	-
Legal Settlements	97	97	212	351	160	-
Pretax Income	-1,285	-1,473	2,960	12,095	2,583	2,718
Income Tax Expense	-900	-899	641	1,378	626	1,054
Earnings From Continuing Operations	-385	-574	2,319	10,717	1,957	1,664
Net Income to Company	-385	-574	2,319	10,717	1,957	1,664
Minority Interest in Earnings	-288	-318	-308	-2,580	-375	-522
Net Income	-673	-892	2,011	8,137	1,582	1,142
Preferred Dividends & Other Adjustments	254	254	209	253	250	282
Net Income to Common	-927	-1,146	1,802	7,884	1,332	860
Net Income Growth	-	-	-75.29%	414.35%	38.53%	-65.72%
Shares Outstanding (Basic)	5,477	5,668	5,740	5,864	5,953	5,794
Shares Outstanding (Diluted)	5,477	5,716	5,763	5,874	5,959	5,799
Shares Change (YoY)	-13.56%	-0.83%	-1.89%	-1.43%	2.77%	6.17%
EPS (Basic)	-0.17	-0.20	0.31	1.34	0.22	0.15
EPS (Diluted)	-0.17	-0.20	0.31	1.34	0.22	0.15
EPS Growth	-	-	-76.87%	509.09%	48.22%	-72.33%
Free Cash Flow	4,822	5,488	5,413	3,540	5,667	6,612
Free Cash Flow Per Share	0.88	0.96	0.94	0.60	0.95	1.14
Dividend Per Share	0.300	0.300	0.300	0.300	0.400	0.400
Dividend Growth	-33.33%	0%	0%	-25.00%	0%	0%
Gross Margin	50.29%	49.77%	54.07%	51.65%	58.37%	59.51%
Operating Margin	6.33%	5.78%	8.30%	5.85%	10.59%	10.90%
Profit Margin	-2.27%	-2.82%	4.51%	20.07%	3.03%	1.74%
Free Cash Flow Margin	11.80%	13.50%	13.53%	9.01%	12.89%	13.41%
EBITDA	7,781	7,632	8,714	9,047	12,413	14,235
EBITDA Margin	19.04%	18.77%	21.79%	23.03%	28.24%	28.87%
D&A For EBITDA	5,195	5,282	5,395	6,748	7,757	8,861
EBIT	2,586	2,350	3,319	2,299	4,656	5,374
EBIT Margin	6.33%	5.78%	8.30%	5.85%	10.59%	10.90%
Effective Tax Rate	-	-	21.66%	11.39%	24.24%	38.78%

Source: S&P Capital IQ. Standard template. Financial Sources.