Printer Friendly

TELEFONICA'S PROVISIONAL RESULTS FOR 1992

 MADRID, Spain, Jan. 27 /PRNewswire/ -- Telefonica de Espana S.A. today announced that its provisional figure for net income for the 1992 fiscal year has risen to 83,890 million pesetas, which is 3.8 percent higher than the amount registered for the previous year.
 Revenue from operations reached 1.15 trillion pesetas, an annual increase of 14.7 percent. Cash-flow (funds generated from operations) rose to 468,000 million pesetas, showing a significant increase of 16.4 percent. The performance of this term is due to the increase in depreciation of fixed assets which totalled 378,000 million pesetas and is therefore the most outstanding item.
 Within the items that make up revenue from operations, those that have shown the most positive performances have been sales of terminals, with an increase of 83 percent, followed by mobile services, 82 percent and domestic telephone service, 17 percent.
 The lower growth in financial expenses stands out when one compares this year's figure, 217,000 million pesetas (8.7 percent higher than that registered in 1991), with those of previous years. Operating expenses amounted to 536,000 million pesetas, 12 percent higher than last year. Therefore, operating margin has gone up to 689,000 million pesetas which reflects a 15.6 percent increase when compared with the figure reached in 1991, as a result of the policy of cost containment.
 The differences between the growth rates for operating margin and net income are a reflection of the company's efforts to improve the quality of assets and earnings. This is being achieved through the higher depreciation of fixed assets previously mentioned and through the performance of net extraordinary items, whose most important component is that of provisions for non-depreciated dismantled plant.
 -0- 1/27/93
 /CONTACT: Jason Thompson of Dewe Rogerson, 212-688-6840, for Telefonica de Espana S.A./


CO: Telefonica Financiero ST: IN: TLS SU: ERN

SH-OS -- NY099 -- 9786 01/27/93 15:12 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 27, 1993
Words:322
Previous Article:MFS NETWORK TECHNOLOGIES TO BUILD FIRST PRIVATE, ALL AVI HIGHWAY WITH ELECTRONIC TOLL AND TRAFFIC MANAGEMENT SYSTEMS
Next Article:SEARS CAUSES RETAILING TO LEAD JANUARY LAYOFF LIST
Topics:


Related Articles
TELEFONICA DE ESPANA REPORTS 1992 RESULTS
TELEFONICA DE ESPANA REPORTS RESULTS FOR THE FIRST QUARTER 1993
TELEFONICA DE ESPANA S.A. ANNOUNCES RESULTS FOR THE FIRST HALF ENDED JUNE 30, 1993
TELEFONICA DE ESPANA S.A. ANNOUNCES NET INCOME FOR THE NINE MONTHS ENDED SEPT. 30, 1993, INCREASED 0.6 PERCENT TO 63,963 MILLION PESETAS
Telefonica Group 1997 Net Profit Rises 18.6% to 190.063 Billion Pesetas
Growth Driven by Telefonica Moviles and Telefonica Internacional: Telefonica First-Quarter Net Income Rises 17.8% to 32.833 Billion Pesetas
Telefonica Net Profit Rose 30.7% During First Quarter 1999.
TPI-Paginas Amarillas Net Profit Rose 396.2% in First Half of 1999.
Telefonica Nine-Month Consolidated Net Profit Rises 44%.
Telefonica Group Consolidated Net Profit Rose 38% in 1999.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters