3rd Qtr & 9 Mths Rslts - P3
Telefonica SA
15 November 2000
PART 3
Telefonica Moviles Espana
Consolidated Statement of income
Unaudited figures
Euros in millions
January - September %
2000 1999 Change
Operating revenues 3.586,9 2,673,1 34,2
Internal expend capitalized
in fixed assets (1) 86,3 35,3 144,3
Operating expenses (2.279,7) (1.674,7) 36,1
Other operating income
(expense) net (49,9) (29,3) 70,2
EBITDA 1.343,5 1.004,5 33,8
Depreciation and amortization (423,9) (331,4) 27,9
Operating profit 919,6 673,1 36,6
Profit from associated companies 0,0 0,0 n.s.
Financial income (expense) net (26,1) (35,4) (26,2)
Amortization of goodwill 0,0 0,0 n.s.
Extraordinary income (expense) net 3,7 (3,8) c.s.
Income before taxes 897,2 633,9 41,5
Income taxes (292,6) (214,2) 36,6
Net Income before minority
interests 604,6 419,7 44,1
Minority interests 0,0 0,0 n.s.
Net Income 604,6 419,7 44,1
July - September %
2000 1999 Change
Operating revenues 1.361,9 999,1 36,3
Internal expend capitalized
in fixed assets (1) 62,4 9,6 549,0
Operating expenses (879,5) (595,5) 47,7
Other operating income
(expense) net (15,4) (13,6) 13,1
EBITDA 529,4 399,5 32,5
Depreciation and amortization (144,2) (116,3) 24,0
Operating profit 385,2 283,3 36,0
Profit from associated companies 0,0 0,0 n.s.
Financial income (expense) net (7,1) (10,5) (32,1)
Amortization of goodwill 0,0 0,0 n.s.
Extraordinary income (expense) net 3,7 (0,6) c.s.
Income before taxes 381,8 272,2 40,2
Income taxes (122,3) (91,9) 33,1
Net Income before minority
interests 259,5 180,3 43,9
Minority interests 0,0 (0,0) n.s.
Net Income 259,5 180,3 43,9
(1) Including work in progress
Selected Operating Data
Unaudited figures
September %
2000 1999
Cellular subscribers 12.801.493 7.699.732 66,3
Contract 4.500.944 3.378.166 33,2
Prepaid 8.300.549 4.321.566 92,1
Subscribers net adds in year
to date (a) 3.749.146 2.805.468 33,6
Contract 953.752 315.543 202,3
Prepaid 2.795.394 2.489.925 12,3
TSM Penetration TM (b) 32,0% 19,3% 12,7 p.p.
Total airtime minutes, in
millions (a) 15,257 9.621 58,6
Employees 3.854 3.272 17,8
(a) January - September accumulated data
(b) Telefonica Servicios Moviles cellular line/100 inhabitants
Consolidated Income Statement (1)
Unaudited figures
Euros in millions
January - September %
2000 1999 Change
Income from investments 345,7 201,3 71,8
Equity income 203,0 83,4 143,3
CTC (28,4) (14,1) 101,8
COINTEL/TASA 76,5 65,3 17,2
Telefonica del Peru 60,4 41,2 46,5
Telesp 90,3 29,2 209,5
CRT Celular 10,6 (5,5) c.s.
Telesp Celular Participacoes 1,9 3,2 (41,9)
TeleSudeste Celular Participacoes 9,0 0,9 857,7
TeleLeste Celular Participacoes (0,5) (2,9) (83,0)
Publiguias 0,6 4,6 (86,6)
CANTV 1,7 6,5 (74,1)
Telefonica del Salvador (6,3) (6,2) 0,7
Telefonica de Guatemala (14,0) - -
Others 1,2 (38,8) c.s.
Management fees 142,7 117,8 21,1
Operating expenses (511,8) (363,7) 40,7
Net financial expenses (358,0) (222,8) 60,7
Goodwill amortization (47,1) (55,4) (15,1)
Intangible assets amortization (106,8) (85,5) 24,9
Operating profit (166,1) (162,4) 2,3
Divestitures and others 146,4 74,2 97,3
Other income (expense) net (19,2) (63,8) (70,0)
Taxes 112,9 283,7 (60,2)
Net Income 74,0 131,8 (43,8)
Euros in millions
July - September %
2000 1999 Change
Income from investments 129,4 28,9 347,3
Equity income 78,1 (12,1) c.s.
CTC (13,9) (27,2) (48,9)
COINTEL/TASA 24,4 17,0 43,8
Telefonica del Peru 18,6 9,8 89,3
Telesp 42,6 13,7 211,2
CRT Celular 3,2 14,9 (78,7)
Telesp Celular Participacoes 0,0 (0,6) c.s.
TeleSudeste Celular Participacoes 3,5 (0,9) c.s.
TeleLeste Celular Participacoes (0,0) (2,1) (99,4)
Publiguias 5,5 2,2 149,6
CANTV 0,3 1,7 (82,1)
Telefonica del Salvador (6,3) (6,2) 0,7
Telefonica de Guatemala (14,0) - -
Others 14,2 (34,4) c.s.
Management fees 51,3 41,0 25,0
Operating expenses (178,1) (131,3) 35,6
Net financial expenses (126,8) (83,6) 51,7
Goodwill amortization (15,7) (18,7) (16,0)
Intangible assets amortization (35,6) (29,1) 22,4
Operating profit (48,7) (102,4) (52,5)
Divestitures and others 112,1 3,5 n.s.
Other income (expense) net 15,9 1,4 n.s.
Taxes (31,2) 107,9 c.s.
Net Income 28,3 10,6 167,6
1) TISA holding income, incorporating the participation in all subsidiaries net
income following the economic participation
Operating Data
Figures in thousands
Lines in Service Cellular Subscribers
% Change Proport % Change Proport
Sep - 00 00/99 % Part (1) Sep - 00 00/99 % Part (1)
Management Operators 18.653 17,0 15.524 8.119 48,2 5.503
CTC 2.661 (0.4) 1.160 1.154 13,0 503
TASA 4.259 8,3 4.169 1.564 86,2 1.532
Telefonica del Peru 1.720 3,1 1.602 851 27,6 793
Telesp 9.786 27,8 8.393
CETERP 187 - 181
CRT Celular 1.283 57,5 470
TeleSudeste Celular Part. 2.317 47,3 1.992
TeleLeste Celular Part 619 31,7 59
Telefonica El Salvador 30 326,6 13 210 126,3 93
Telefonica Guatemala 11 - 6 120 - 61
Financial
Participations 2.565 (0,5) 170 1.587 65,1 105
CANTV 2.565 (0,5) 170 1.587 65,1 105
Total 21.218 14,6 15.694 9.706 50,7 5.808
Figures in thousands
Pay TV Customers
% Change Proport
Sep - 00 00/99 % Part (1)
Management Operators 345 8,0 322
CTC
TASA
Telefonica del Peru 345 8,0 322
Telesp
CETERP
CRT Celular
TeleSudeste Celular Part.
TeleLeste Celular Part
Telefonica El Salvador
Telefonica Guatemala
Financial
Participations
CANTV
Total 345 8,0 322
(1) Lines weighted by TISA's economic participation in each company
Note: 1999 and 2000 figures do include CRT's lines, Cablevision subscribers and
Telesp Celular subscribers due to the transitory nature of the shareholding in
these companies.
Telefonica Internacional Group
FULL CONSOLIDATION
Consolidated Statement Income (1)
Unaudited figures
Euros in millions
January - September %
2000 1999 Change
Operating revenues 9.505,4 6.818,5 39.4
Internal expend capitalized
in fixed assets (2) 237,0 173,0 37,0
Operating expenses (5.071,0) (3.526,8) 43,8
Other operating income
(expense) net (217.0) (253,6) (14,4)
EBITDA 4.454,3 3.211,1 38,7
Depreciation and amortization (2.293,0) (1.739,8) 31,8
Operating profit 2.161,4 1,471,3 46.9
Profit from associated companies 3,3 8,9 (62,4)
Financial income (expense) net (920,0) (650,7) 41,4
Amortization of goodwill (88,0) (77,1) 14,2
Extraordinary income (expense) net 4,7 (145,0) c.s.
Income before taxes 1.161,4 607,3 91,2
Income taxes (302,2) 38,3 c.s.
Net Income before minority
interests 859,2 645,6 33,1
Minority interests (785,2) (513,9) 52,8
Net Income 74,0 131,8 (43,8)
Euros in millions
July - September %
2000 1999 Change
Operating revenues 3.409,8 2.372,8 43,7
Internal expend capitalized
in fixed assets (2) 58,1 50,2 15,8
Operating expenses (1.778,8) (1.275,7) 39,4
Other operating income
(expense) net (89,0) (124,0) (28,2)
EBITDA 1.600,1 1.023,4 56,4
Depreciation and amortization (786,6) (632,6) 24,3
Operating profit 813,5 390,7 108,2
Profit from associated companies (1,2) (11,5) (89,6)
Financial income (expense) net (315,8) (211,2) 49,5
Amortization of goodwill (29,2) (23,0) 27,0
Extraordinary income (expense) net 54,5 (35,2) c.s.
Income before taxes 521,8 109,8 375,2
Income taxes (184,7) 20,9 c.s.
Net Income before minority
interests 337,1 130,7 157,9
Minority interests (308,8) (120,2) 157,0
Net Income 28,3 10,6 167,6
(1) TASA, CTC, Telefonica del Peru, Publiguias, TLD, Telesp, Telesudeste
Celular Participacoes and CRT Celular fully consolidated; other Latin
America subsidiaries consolidated by the equity method.
(2) Including work in process.
Telefonica Data Group
Consolidated Income Statement
Unaudited figures
Euros in millions
January - September %
2000 1999 Change
Operating revenues 643,8 563,6 14,2
Internal expend capitalized
in fixed assets (1) 0,6 11,5 (994,5)
Operating expenses (589,2) (477,4) 23,4
Other operating income
(expense) net 1,4 (1,4) (0,8)
EBITDA 56,6 98,2 (42,9)
Depreciation and amortization (56,9) (50,0) 13,9
Operating profit (0,2) 49,2 c.s
Profit from associated companies 1,1 2,3 (50,7)
Financial income (expense) net (1,4) (3,5) (59,5)
Amortization of goodwill (3,9) (3,1) 25,0
Extraordinary income (expense) net 4,3 0,0 n.s.
Income before taxes (0,2) 44,9 c.s.
Income taxes (7,1) (17,7) (59,6)
Net Income before minority
interests (7,3) 27,2 c.s.
Minority interests 10,1 0,0 n.s.
Net Income 2,8 27,2 (89,7)
Euros in millions
July - September %
2000 1999 Change
Operating revenues 242,9 198,2 22,6
Internal expend capitalized
in fixed assets (1) (6,1) 2,8 c.s.
Operating expenses (219,9) (160,2) 37,3
Other operating income
(expense) net (0,4) 0,7 c.s.
EBITDA 16,6 41,4 (60,0)
Depreciation and amortization (26,9) (16,1) 67,7
Operating profit (10,4) 25,4 c.s
Profit from associated companies 2,1 1,8 (16,6)
Financial income (expense) net 0,4 (0,4) c.s
Amortization of goodwill (1,1) (2,6) (57,2)
Extraordinary income (expense) net (2,0) (0,3) n.s.
Income before taxes (11,0) 23,8 c.s.
Income taxes (4,5) (9,4) (52,0)
Net Income before minority
interests (15,5) 14,4 c.s.
Minority interests 10,0 0,0 n.s.
Net Income (5,5) 14,4 c.s.
(1) Including work in process
Note: 1999 figures have been prepared to include ETI and Telefonica Sistemas,
which were previously part of Telefonica Intercontinental Grupo Telefonica de
Espana respectively.
Telefonica Data Group
Operating Data
September %
2000 1999 Change
Connections (dedicated ports) 176.349 110.484 59,6
IP Networks (switched ports) 176.036 36.270 385,3
Employees 1.864 945 97,3
Telefonica Media Group
Consolidated Income Statement(1)
Unaudited figures Euros in millions
January - September %
2000 1999 Change
Profit from associated companies (91,7) (73,3) 25,2
Antena 3 33,9 24,2 39,7
Via Digital (98,0) (66,7) 46,9
Telefonica Servicios
Audiovisuales 4,1 4,5 (10,1)
Endemol 5,3 - -
Others (26,3) (35,3) (25,5)
Operating Expenses (65,9) (37,0) 77,8
Net financial expenses (5,3) (18,3) (70,9)
Goodwill amortization (60,5) (18,7) 223,4
Operating profit (157,6) (110,3) 42,9
Divestitures and others 47,9 0,0 n.s.
Other income (expense) net (37,5) (12,5) 200,3
Taxes 44,5 39,9 11,4
Net Income (102,7) (82,9) 23,9
Euros in millions
July - September %
2000 1999 Change
Profit from associated companies (30,5) (42,7) (28,2)
Antena 3 0,6 (0,9) c.s.
Via Digital (32,6) (27,0) 20,8
Telefonica Servicios
Audiovisuales 1,0 1,4 (26,3)
Endemol 5,3 - -
Others (4,8) (16,2) (70,4)
Operating Expenses (39,4) (14,4) 173,8
Net financial expenses (4,9) (7,1) (31,7)
Goodwill amortization (34,5) (7,3) 375,2
Operating profit (69,9) (57,1) 22,7
Divestitures and others 47,9 0,0 n.s.
Other income (expense) net (19,3) (8,6) 124,2
Taxes 26,3 22,8 15,2
Net Income (15,0) (42,9) (64,7)
(1) Consolidated by equity method.
Terra Networks Group
Consolidated Income Statement
Unaudited figures
Euros in millions
January - September %
2000 1999 Change
Operating revenues 139,0 9,6 n.s.
Internal expend capitalized
in fixed assets (1) 1,8 2,5 (30.3)
Operating expenses (395,9) (44,9) n.s.
Other operating income
(expense) net (4,4) (2,9) 53,8
EBITDA (259,5) (35,6) n.s.
Depreciation and amortization (50.8) (1,2) n.s.
Operating profit (310,4) (36,8) n.s.
Profit from associated companies (17,7) 0,0 n.s.
Financial income (expense) net 7,1 (0,4) c.s.
Amortization of goodwill (88,5) (9,7) n.s.
Extraordinary income (expense) net (5,7) (0,5) n.s.
Income before taxes (415,2) (47,4) n.s.
Income taxes (129,2) (12,1) n.s.
Net Income before minority
interests (286,0) (35,1) n.s.
Minority interests 0,5 0,1 n.s.
Net Income (285,5) (35,0) n.s.
Euros in millions
July - September %
2000 1999 Change
Operating revenues 58,3 6,7 n.s.
Internal expend capitalized
in fixed assets (1) 0,8 0,1 n.s.
Operating expenses (161,9) (28,3) 472,6
Other operating income
(expense) net (2,9) (3,1) (4,3)
EBITDA (105,7) (24,6) 330,1
Depreciation and amortization (23,9) (0,6) n.s.
Operating profit (129,6) (25,1) 415,7
Profit from associated companies (12,9) 0,0 n.s.
Financial income (expense) net 6,8 (0,4) c.s
Amortization of goodwill (30,7) (9,6) n.s.
Extraordinary income (expense) net (5,3) (0,7) n.s.
Income before taxes (171,7) (35,9) 378,8
Income taxes (53.0) (8,4) n.s.
Net Income before minority
interests (118,7) 27,5 332,0
Minority interests (1,2) 0,1 c.s.
Net Income (119,9) (27,4) (337,7)
(1) Including work in process
Terra Networks Group
Operating Data
September 2000 September 1999
ISP Customers, in thousands 3.533 861
Page views, in millions 1.232 290
Visits per month, in millions 113 22
TPI - Paginas Amarillas Group
Consolidated Income Statement
Unaudited figures
Euros in millions
January - September %
2000 1999 Change
Operating revenues 263,6 194,2 35,7
Operating expenses (184,2) (133,4) 38,0
EBITDA 79,5 60,8 30,6
Depreciation and amortization 7,4 4,9 50,8
Operating profit 72,1 56,0 28,9
Profit from associated companies (0,1) 0,0 n.s.
Financial income (expense) net (0,6) (0,2) 158,7
Amortization of goodwill (0,0) (0,0) 100,5
Extraordinary income (expense) net 0,3 22,6 (98,9)
Income before taxes 71,7 78,3 (8,5)
Income taxes (25,5) (28,7) 7,5
Net Income before minority
interests 46,2 54,6 (15,4)
Minority interests 1,5 0,0 n.s.
Net Income 47,7 54,6 (12,7)
Euros in millions
July - September %
2000 1999 Change
Operating revenues 155,8 98,2 58,7
Operating expenses (111,6) (67,1) 66,3
EBITDA 44,2 31,1 42,2
Depreciation and amortization 12,0 7,9 51,4
Operating profit 41,5 29,2 41,8
Profit from associated companies (0,1) 0,0 n.s.
Financial income (expense) net 0,6 (0,2) 262,7
Amortization of goodwill (0,0) (0.0) 100,5
Extraordinary income (expense) net 0,0 0,1 (66,7)
Income before taxes 40,7 29,1 39,8
Income taxes (14,7) (10,2) 43,6
Net Income before minority
interests 26,1 18,9 37,7
Minority interests (1,5) 0,0 n.s.
Net Income 27,6 18,9 45,6
TPI - Paginas Amarillas Group
Selected Operating Data
Unaudited Figures
Euros in millions
September %
2000 1999 Change
Books (published)
Paginas Amarillas (Yellow pages) 43 42 2,4
Paginas Blancas (White pages) 39 30 30,0
Advertising revenues
Paginas Amarillas (Yellow pages) 171,0 124,1 37,8
Paginas Blancas (White pages) 69,6 64,3 8,3
Revenues On-Line 5,0 1,4 255,1
Paginas Amarillas Habladas 2,1 1,0 118,3
APPENDIX
Consolidated Balance Sheet
Unaudited figures
Euros in millions
September
Equity
Method (1) % Change Impact of TISA's Total % Change
2000 Sep 00/99 subsidiaries (2) Group (3) Sep 00/98
2000
Subscribed
shared not
pad-in 3,8 10,0 0,0 3,8 10,0
Long term
assets 46.006,7 47,9 13.088,1 59.094.8 26,4
Star up
expenses 317.8 223,9 0,0 317,8 206,5
Intangible
net assets 6.191,4 1,9 1.031,4 7.222,8 8,9
Fixed net
assets 16.564,6 (2.7) 23.102,5 39.667,2 16,2
Investments 22.932,9 189,7 (11.045,8) 11.887,1 101,2
Goodwill on
consolidation 5.787,8 87,7 667,2 6.455,0 75,8
Deferred
expenses 979,7 68,8 185,9 1.163,6 39,2
Current assets 10.949,9 135,0 6.332,9 17.282,8 96,6
Inventories 525,1 115,4 341,5 866,6 84,4
Accounts
receivable 4.812,1 41,4 4.862,0 9.674,1 47,8
Short term
investments 5.207,2 478,8 810,3 6.017,5 338,5
Cash and
banks 202,4 n.s 149,4 351,7 267,5
Others 203,2 102,0 169,7 372,9 20,9
Assets =
Liabilities 63.726,0 61,6 20,724,0 84.000,0 39,8
Shareholders'
equity 24.468,0 71,4 0,0 24.468,0 71,4
Minority
interests 1.213,2 n.s. 4,187.4 5.400,6 (40,4)
Deferred
income 1.142,3 48,7 3,2 1.145,5 48,6
Provisions
for risks
and expenses 5.501,1 (9,0) 1.296,4 6.797,6 (3,6)
Accrued taxes
payable 640,9 71,0 596,8 1.237,7 56,8
Long term
debt 16.943,6 62,6 6,218,8 23.162,4 43,6
Short term
debt including
current
maturities 7.772,4 198,3 3.469,9 11.242,3 169,8
Interest
payable 198,3 (5,2) 200,4 398,7 17,1
Others
creditors 5.846,2 24,2 4.301,1 10.147,3 35,5
Consolidated
net debt (4) 19.306,0 59,4 8.729,0 28.035,0 48,9
Consolidated
debt ratio
(5) 41,3% (2,6p.p.) 64,6% 45,5% 3,4 p.p.
(1) Telefonica internacional's operating subsidiaries consolidated by the
equity method.
(2) Impact of TASA, CTC, Telefonica de Peru Publiguies, TLD, Telesp, Telesudeste
Celular Participacoes and CRT Celular full consolidation.
(3) Telefonica, S.A. including TASA, CTC, Telefonica del Peru, Publiguies, TLD,
Telesp, Telesudeste Celular Participacoes and CRT Celular fully consolidated;
other Latinamerican subsidiaries consolidated by the equity method.
(4) Net debt: Long term debt + Short term debt including current maturities -
Short term investments - Cash and banks.
(5) Debt ratio: Net debt / (shareholders's equity + minority interest + Deferred
Income + Accrued taxes payable + Net debt).
Telefonica S.A.
ConsolidatedIncome Statement
Unaudited figures Euros in millions
January - September
Impact of
Equity TISA's %Change Total %Change
Method(1) % Change subsid- s/Sep Group s/Sep
2000 s/Sep999 iaries(2) 99 (3) 99
2000
Operating revenues 11.671,5 17,2 9.083,1 38,9 20,754,6 25,8
Internal expend
capitalized in
fixed assets (4) 432,1 5,3 225,6 7,2 657,7 6,0
Operating expenses (7.409,3) 42,1 (4.768,1) 41,2 (12.177,5) 41,7
Supplies (2.556,0) 60,3 (1,673,8) 57,3 (4.229,9) 59,1
Personnel expenses (2.462,1) 16,7 (1.275,2) 18,8 (3.737,4) 17,4
Subcontracts (2.221,5) 64,0 (1.669,7) 46,8 (3.891,2) 56,2
Taxes (169,6) 7,6 (149,4) 47,4 (319.0) 23,2
Otherer operating (131,7) 33,6 (216,5) (14,9) (348.2) (1,3)
income (expense) net
EBITDA 4.563,1 (9.9) 4,323,7 38,7 8.886,8 8,7
Depreciation and
amortization (2.786,0) (0,8) (2.262,3) 32,7 (5.048,3) 11,9
Operating profit 1.777,1 (21,0) 2.061,4 45,9 3.838,5 4,8
Profit from associ-
ated companies 316,1 3.102,9 (408,0) 761,0 (91,9) 145,0
Financial income
(expense) net (707,3) 36,6 (593,5) (3,4) 1,300,9) 14,9
Amortization of
goodwill (356,0) 83,1 65,8 5,0 (290,2) 120,2
Extraordinary income
(expense) net 615,7 213,6 (201,2) 133,0 414,5 276,9
Income before taxes 1.645,6 (5,6) 924.5 27,1 2,570,1 4,0
Income taxes (259,1) (20,4) (398,6) 68,4 (657,8) 17,0
Not income before
minority Interests 1.386,4 (2.3) 525,9 7,2 1,912,3 0,2
Minority interests 97,9 c.s (525,9) 7,2 (428,6) (13,5)
Net Income 1.483,7 5,0 1,483,7 4,9
Outstanding shares
(millions) (5) 3,548,5 12,5 3,548,5 12,5
Net Income per share 0.42 (6,8) 0,42 (6,8)
(1) Telefonica Internacional's operating subsidiaries consolidation by the
equity method
(2) Impact of TASA, CTC, Telefonica del Peru, Publigulas, TLD Telesp,
Telesudeste Celular Participacoes and CRT Celular full consolidation.
(3)Telefonica S.A. including TASA, CTC, Telefonica del Peru, Publigfes, TLD,
Telesp, Telesudests Celular Participacoes and CRT Celular fullY consolidated;
other latinamerican subsidiaries consolidated by the equity method.
(4)Including work in process.
(5) Average number of shares in the period, includes capital increases held in
order to acquire shareholdings in Telefonica de Argentina, Telefonica del Peru,
Telesp, Telesudeste and Endemoi, weighted for the number of days listed. The
number of shares reflects the split (3-for-1) of 30/7/99 and 1999 figures have
been adjusted accordingly
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