Telefónica announces its guidance for 2013 and reiterates the shareholder remuneration policy for 2013, of paying a cash dividend of 0.75 euros per share.
Operating guidance (in organic terms*):
Lower OIBDA margin erosion than in 2012.
CapEx/Sales similar than in 2012.
Net financial debt < 47,000 million euros.
2012, a year of a deep transformation
In 2012 Global Resources consolidated its operating model and, through its global areas, consistently contributed to Telefónica’s progress in
optimising scale economies
. As a result, it has obtained higher efficiencies, improvements in time to market and customer satisfaction, in addition to increased competitiveness in its multinational businesses. Thus, it has set the basis for accelerating our IT transformation, which will be supported on our new data centres (Mexico, Brazil and Spain); the value traded globally in mobile devices has risen to 80%, focused on 100 references; and in addition, the new organisation of Telefónica’s multinational businesses has been strengthened and as a result, revenues from its multinational businesses increased 7% year-on-year, highlighting international services (+23% year-on-year).
During 2012, Telefónica has also improved the
by focusing on growth, reallocating resources to higher-growth operations and services -such as the selective rollout of fibre and VDSL-, improving service quality and customer satisfaction, strengthening our networks via spectrum acquisition, and prioritising simplicity in order to best take advantage of shared investment.
At the same time, there was a substantial improvement in financial flexibility at the end of 2012, thanks to a significant reduction in debt during the second half of the year, thanks to strong cash flow generation and a proactive portfolio management; and the Company's refinancing efforts throughout 2012, among other things. All these measures have led to significant reduction in financial leverage, credit rating stabilization and significant liquidity improvement.