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Telefónica, S.A. (TEF) H1 2025 Earnings Call Transcript

Telefónica, S.A. (NYSE:TEF) H1 2025 Earnings Call July 30, 2025 4:00 AM ET

Company Participants

Emilio Gayo Rodríguez – COO & Executive Director
Laura Abasolo García de Baquedano – Chief Financial and Control Officer & Head of Hispanoamerica
Lutz Schuler – Chief Executive Officer of Virgin Media O2
Marc Thomas Murtra Millar – Executive Chairman & CEO
Markus Haas – CEO & Chairman of Telefónica Deutschland Holding AG
Torsten Achtmann – Director of Investor Relations

Conference Call Participants

Akhil Dattani – JPMorgan Chase & Co, Research Division
Andrew J. Lee – Goldman Sachs Group, Inc., Research Division
David Antony Wright – BofA Securities, Research Division
James Edmund Ratzer – New Street Research LLP
Joshua Andrew Mills – BNP Paribas Exane, Research Division
Keval Khiroya – Deutsche Bank AG, Research Division
Nicholas George Lyall – Joh. Berenberg, Gossler & Co. KG, Research Division

Operator

Good morning. Thank you for standing by, and welcome to Telefonica’s January-June 2025 Results Conference Call. [Operator Instructions] As a reminder, today’s conference is being recorded.

I would now like to turn the call over to Mr. Torsten Achtmann, Global Director of Investor Relations. Please go ahead, sir.

Torsten Achtmann

Good morning, and welcome to Telefonica’s conference call to discuss January to June 2025 results. I’m Torsten Achtmann from Investor Relations.

Before proceeding, let me mention that the financial information contained in this document has been prepared under International Financial Reporting Standards as adopted by the European Union. This financial information is unaudited.

This conference call and webcast, including the Q&A session, may contain forward-looking statements and information relating to the Telefonica Group. These statements may include financial or operating forecasts and estimates or statements regarding plans, objectives and expectations regarding different matters. All forward-looking statements involve risks and uncertainties that could cause the final developments and results to materially differ from

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