According to Telefónica's Chairman, José María Álvarez-Pallete: "The world is going through a period of economic weakness, and it is now when Telefónica's performance is even more valuable, with its solid fundamentals and results that exceed the targets and consolidate its profitable business, of quality and service to society,". He added: "Telefónica does not live out of touch of reality. The war in Ukraine, an energy crisis that complicates the inflationary scenario and higher financing costs have a direct impact on the lives of companies and individuals, without exception. Telefónica has its feet on the ground and understands economic headwinds require determination, effort, intuition, and leadership. This is the only way to explain Telefónica's value creation, which successfully meets all its targets and confirms the dividend for 2022, without forgetting its commitment to zero net emissions. Telefónica is not immune to global uncertainties, but it is resilient enough to continue to offer confidence and stability to whatever challenges lie ahead”
The positive evolution of the different figures in the first six months of 2022 is based on the consistent results in Telefónica's main markets, a key element in the fulfilment of the strategic plan, together with the efficiencies derived from the operating model, the continued leadership process of Telefónica Tech and the capture of opportunities by Telefónica Infra. Strategic management has enabled us to cope with the current inflationary pressures and maintain the company's solid fundamentals.
Telefónica Tech's revenues grew 64.8% in the quarter to €335 million, thanks to the performance of its businesses, which continue to outperform the market, and the integration of companies acquired in recent months, such as Incremental and BE-terna. Revenue growth between January and June was close to 72%, to €634 million. Telefónica Cybersecurity & Cloud Tech and Telefonica IoT & Big Data Tech, the two areas that make up Telefonica Tech, also separately outperformed the market in revenues, growing by 73.7% and 59.4%, respectively, in the first half of the year.
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Find out more about Telefónica’s results in the first half of 2022 on this video: