Telefonica has posted its results for the fourth quarter of 2012.
The company registered a net profit of Euro 473 million, while OIBDA declined by 8.6 per cent to EUR 5.45 billion. Revenues also declined by 2 per cent to EUR 15.84 billion.
After operating cash flow of EUR 5.912 billion in the fourth quarter, debt reduction accelerated. Net debt declined by EUR 4.75 billion over the three months to EUR 51.26 billion. Telefonica met its target for net debt of less than 2.46 times EBITDA, with a ratio of 2.36 in the period under consideration.
The company?s annual revenues declined by 0.8 per cent and it did not meet its target for flat sales in 2012.
