Telefonica Deutschland posts strong Q1 figures, despite Covid 19 disruption

Telefonica Deutschland saw revenues grow by 3.4 per cent in Q1 2020 on a year on year basis
Telefonica Deutschland, O2, Q1, 2020, Finance, Telecoms

Share

Telefonica Deutschland, the German subsidiary of Spanish telecoms giant Telefonica, has posted strong growth for the first quarter of 2020, showing little signs of any effect of the current Covid 19 pandemic.

First quarter revenues were up by 3.8 per cent on 2019’s figures, standing at €1.846 billion. The vast majority of these revenues came from Telefonica Deutschland’s mobile business, which accounted for €1.65 billion, a year on year increase of 3.4 per cent.

“We have made a good start to the year, we are growing, and our network is getting stronger every day,” said Markus Haas, CEO of Telefónica Deutschland. “The coronavirus pandemic once again shows what a central role we play as a telecommunications provider for the people of this country, but also for our economy and society."

Last month, Telefonica announced that it was planning to sell off its telecoms tower infrastructure in Germany for a reported €1.5 billion.

The deal will see Telefonica’s German subsidiary, O2 Deutschland, sell off 10,000 telecoms sites across the country. The portfolio of towers will be purchased by European holding firm, Telxius.

Telxius currently manages a portfolio of 20,257 telecoms towers across Europe and is 50.01 per cent owned by Telefonica. The deal, which is reportedly a few weeks away from being finalised, would include a lease back arrangement which would allow Telefonica Deutschland to continue to use the towers in its German network.

Editor's Choice

Emerson expands analytics platform for industrial enterprise-level wireless infrastructure management
Plantweb Insight platform adds two new Pervasive Sensing applications that manage wireless networks more efficiently with a singular interface to the enterprise
Digitalisation seen as a competitive advantage by Middle East private businesses
Nearly 80 per cent of private business leaders acknowledge that digitalisation can impact business sustainability
Etisalat introduces Multi-Access Edge Computing architecture delivering best-in-class video streaming performance for 5G networks
MEC architecture achieves performance gains of as much as 90% in video streaming, validating how ultra-low-latency applications will be delivered over 4G and 5G networks

Most popular

Don't Miss a Story