Telefonica has reported that its fourth-quarter net profit rose by 22% to EUR2.44 billion ($3.31 billion), helped largely by Latin America. However, the figures did not include the impact of the currency devaluation and new accounting the company is required to use in its important Venezuelan market.
Revenues in the quarter rose by 1.2% to EUR14.98 billion.
For the full year, Telefonica recorded net profits up by 2.4% to EUR7.78 billion.
The main drivers of wireless subscriber growth in 2009 were Brazil (6.8 million), Mexico (2.1 million), Germany (1.5 million), Argentina (1.1 million) and UK (1 million). The main contributors in the fourth quarter were Brazil (2.9 million), Mexico (0.9 million), Argentina (0.5 million) and Germany (0.6 million).
Mobile broadband accesses also registered significant growth, exceeding 15 million at the end of December 2009 (vs. 9 million recorded in 2008).
Looking ahead, the company said that consolidated operating income before depreciation and amortisation (oibda) should rise 1-3 percent, while consolidated revenue should rise 1-4 percent.
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