Telefonica Deutschland Holding, widely known as O2 Telefonica, announced on Wednesday that it predicts significant growth in revenue and earnings for 2023. This positive outlook comes as a result of the company’s strong performance in the first half of the year.
The German telecommunications firm has revised its full-year projections to reflect growth at the upper end of its previous guidance. Previously, Telefonica Deutschland Holding had anticipated growth in the low single-digit range for both revenue and adjusted operating income before depreciation and amortization.
During the second quarter, the company observed a surge in adjusted Oibda, a crucial profitability metric, which increased to €646 million ($714.2 million) from €629 million in the same period last year. Furthermore, revenue rose by 4.4% to €2.09 billion. Net profit also saw a substantial improvement, increasing from €41 million to €53 million.
According to consensus estimates compiled by the company, analysts had predicted that adjusted Oibda would be around €648 million with revenue totaling €2.08 billion.
Telefonica Deutschland Holding reported a 4.3% increase in mobile service revenue during the quarter, amounting to €1.46 billion. The company experienced significant growth in terms of mobile contract customers, with an impressive addition of 302,000 new customers primarily driven by its core brand O2.
This positive performance sets a promising course for Telefonica Deutschland Holding as it looks ahead to a bright future.