1st Quarter Results - Part 2
Telefonica SA
16 May 2002
PART 2
Telefonica Group
Market Size
Unaudited figures (Thousands)
January - March % Chg. 02/01 Weigthed (*) % Chg. 02/01
2002 2001 2002 2001
Lines in service 45.410,2 43.259,1 5,0 39.632,2 37.553,9 5,5
In Spain 21.100,5 20.600,3 2,4 21.100,5 20.600,3 2,4
In other countries(1) 24.309,7 22.658,8 7,3 18.531,7 16.953,6 9,3
Cellular customer 33.271,5 27.163,5 22,5 24.607,1 19.292,6 27,5
In Spain 17.315,0 14.246,3 21,5 16.051,0 13.192,1 21,7
In other countries(2) 15.956,5 12.917,2 23,5 8.556,1 6.100,5 40,3
Pay TV Services (3) 1.148,9 1.025,2 12,1 727,0 655,2 11,0
In Spain 808,3 674,0 19,9 393,1 327,8 19,9
In other countries 340,6 351,2 (3,0) 333,9 327,4 2,0
Total 79.830,6 71.447,8 11,7 64.966,3 57.501,7 13,0
(*) Weighted by the equity interest in each of the companies.
(1) Lines in service: includes all in service as of March 2002 and 2001 , for Telefonica de Espana,
Telefonica CTC Chile, Telefonica de Argentina, Telefonica del Peru, Telesp and CanTV.
(2) Cellular customers: includes all cellular customers of Telefonica Servicios Moviles Espana,
MediTelecom, Telefonica Movil Chile, TCP Argentina, Telefonica Moviles Peru, CRT Celular,
TeleSudeste Celular, NewCom Wireless Puerto Rico, Telefonica Moviles Guatemala, Telefonica Moviles
El Salvador, Telefonica Moviles Mexico, Quam and CanTV Celular.
(3) Pay TV services: includes all pay TV customers of Via Digital in Spain and Cable Magico in Peru
Telefonica Group
Selected Financial Data
Unaudited figures (Euros in millions)
January-March % Chg. 02/01
2002 2001
Operating revenues 7.418,6 7.603,3 (2,43)
EBITDA 3.044,7 3.128,2 (2,67)
Operating profit 1.208,0 1.355,6 (10,88)
Income before taxes (143,02) 523,9 c.s.
Net income 121,1 431,8 (72,0)
Net incomer per share 0,03 0,09 (72,8)
Avg. No of shares, millions (1) 4.765,4 4.621,5 3,1
(1) Average number of shares of the period. It includes capital increases to fund the acquisition of the
cellular companies from Motorola, as well as the issuance of new shares with respect to convertible bonds,
weighted for the number of days listed. Bonus capital increases charged to reserves, which do not involve any
change in the ownership structure, are considered as of 1st of January The total number of shares at the end of
the period is 4,765,354,202
Telefonica Group
Results by Companies
Unaudited figures (Euros in
millions)
REVENUES EBITDA OPERATING PROFIT
January-March January-March January-March
2002 2001 % Chg. 2002 2001 % Chg. 2002 2001 % Chg.
Telefonica de Espana 2.518,7 2.588,7 (2,7) 1.126,9 1.255,7 (10,3) 448,1 579,0 (22,6)
G.
Cellular Businesses 2.348,8 2.021,6 16,2 940,8 754,5 24,7 580,2 430,7 34,7
Telefonica 2.155,1 2.594,7 (16,9) 1.050,0 1.291,5 (18,7) 419,0 634,4 (33,9)
Latinoamerica G.
Telefonica Data G. 456,8 406,4 12,4 16,9 7,3 133,3 (37,7) (32,5) 15,8
Terra-Lycos G. 159,5 177,2 (10,0) (46,8) (82,7) (43,4) (87,2) (115,2) (24,3)
Directories Businesses 68,0 51,6 31,7 6,9 (10,9) c.s. (0,5) (16,3) (96,7)
Admira Media G. 217,8 283,7 (23,2) 6,8 10,5 (35,4) (9,0) (6,7) 33,7
Atento G. 156,4 153,5 1,9 10,4 11,4 (8,5) (12,9) (4,8) 169,7
Others affiliates 294,4 297,3 (1,0) (49,0) (55,8) (12,2) (93,3) (80,0) 16,7
Eliminations (956,9) (971,4) (1,5) (18,2) (53,0) (64,9) 1,4 (33,1) c.s.
Group 7.418,6 7.603,3 (2,4) 3.044,7 3.128,2 (2,7) 1.208,0 1.355,6 (10,9)
Telefonica S.A.
Consolidated Income Statement Full Consolidation
Unaudited figures (Euros in
millions)
January-March
2002 2001 % Chg.
Operating revenues 7.418,6 7.603,3 (2,4)
Internal expend cap. In fixed assets (1) 102,4 110,2 (7,1)
Operating expenses (4.344,8) (4.410,9) (1,5)
Supplies (1.774,9) (1.651,2) 7,5
Personnel expenses (1.273,0) (1.333,4) (4,5)
Subcontracts (1.174,0) (1.293,4) (9,2)
Taxes (123,0) (132,8) (7,4)
Other operating income (expense) net (131,4) (174,4) (24,6)
EBITDA 3.044,7 3.128,2 (2,7)
Depreciation and amortization (1.836,6) (1.772,7) 3,6
Operating profit 1.208,0 1.355,6 (10,9)
Profit from associated companies (126,8) (141,1) (10,1)
Financial income (expense) net (856,1) (487,7) 75,6
Amortization of goofwill (170,0) (232,1) (26,8)
Extraordinary income (expense) net (198,2) 29,3 c.s.
Income before taxes (143,0) 523,9 c.s.
Income taxes 179,1 (205,0) c.s.
Net income before minority interests 36,1 319,0 (88,7)
Minority interests 84,9 112,8 (24,7)
Net income 121,1 431,8 (72,0)
Average shares (millions) (2) 4.765,4 4.621,5 3,1
Net income per share 0,03 0,09 (72,8)
(1) Including work in process.
(2) Average number of shares of the period. It includes capital increases to fund the acquisition of
the cellular companies from Motorola, as well as the issuance of new shares with respect to
convertible bonds, weighted for the number of days listed. Bonus capital increases charged to
reserves, which do not involve any change in the ownership structure, are considered as of 1st of
January The total number of shares at the end of the period is 4,765,354,202
Telefonica S.A.
Consolidated Balance Sheet
Unaudited figures (Euros in millions)
March % Chg. 02/01
2002 2001
Subscribed shares not pad-in 350,4 477,3 (26,6)
Long-term assets 62.140,9 67.527,5 (8,0)
Start up expenses 725,8 517,1 40,4
Intangible net assets 17.100,3 19.952,3 (14,3)
Fixed net assets 34.987,7 39.094,9 (10,5)
Investment 9.327,3 7.963,3 17,1
Goodwill on consolidation 8.769,2 8.894,2 (1,4)
Deferred expenses 690,4 831,0 (16,9)
Current assets 13.719,2 16.107,1 (14,8)
Inventories 839,5 849,5 (1,2)
Accounts receivable 8.753,4 10.488,1 (16,5)
Short-term investments 2.958,5 3.430,0 (13,7)
Cash and banks 651,7 620,9 5,0
Others 516,1 718,6 (28,2)
Assets = Liabilities 85.670,1 93.837,2 (8,7)
Shareholder's equity 24.845,9 26.052,9 (4,6)
Minority interests 7.351,9 9.316,2 (21,1)
Badwill on consolidation 10,2 87,5 (88,3)
Deferred income 1.340,9 1.565,3 (14,3)
Provisions for risks and expenses 5.720,8 6.695,6 (14,6)
Long-term debt 25.921,5 23.633,6 9,7
Accrued taxes payable 1.412,7 1.696,8 (16,7)
Short-term debt including current maturities 9.126,0 9.997,9 (8,7)
Interest payable 356,8 437,0 (18,3)
Others crediters 9.583,4 14.354,4 (33,2)
Financial Data
Consolidated net debt (1) 28.684,0 29.580,6 (3,0)
Consolidated debt ratio (2) 45,0% 43,4% 1,6p.p.
(1) Net debt: Long-term debt (excluding debt with minority partners) + Short-term debt including current maturities
- Short-term investments - Cash and banks.
(2) Debt ratio: Net debt /(Shareholders' equity + Minority interests + Deferred income + Accrued taxes payable +
Net debt)
Telefonica de Espana Group
Selected Operating Data
Unaudited figures
March % Chg. 02/01
2002 2001
Lines in service (thousands) (1) 21.100,5 20.599,1 2,4%
PSTN lines 15.937,9 16.320,1 (2,3%)
ISDN basic access 830.025 712.830 16,4%
ISDN primary access 15.062 14.551 3,5%
ADSL connections 527.604 87.220 504,9%
Employees 40.810 41.095 (0,7%)
Lines/employees (1) 517,0 501,3 3,2%
Traffic (million of minutes) 35.160 34.004 3,4%
% ADSL coverage (2) 81,3% 66,2% 15,1 p.p.
(1) Basic telephony lines (including public telephones, Ibercom, ISDN -basic access-, ADSL connections and
connections lines with PABX)
(2) Degree of effective ADSL coverage for Basic Service.
Telefonica de Espana Group
Operating Revenues (Individual)
Unaudited figures (Euros in millions)
January-March
2002 2001 % Chg.
Revenue derived from usage 1.286,8 1.492,7 (13,8)
Local 424,3 488,7 (13,2)
Provincial 122,6 145,5 (15,7)
Domestic long distance 177,1 249,7 (29,1)
International long distance (outgoing) (1) 99,2 173,5 (42,8)
Fixed to mobile 355,1 375,3 (5,4)
Interconnection International (Incoming) 74,2 65,1 13,9
Interconnection National Operators (1) 109,4 123,2 (11,2)
Others (2) (67,9) (122,7) (44,7)
Monthly fee 940,8 816,3 15,3
Connection fee 59,0 64,2 (8,1)
Customer equipments 76,6 65,3 17,4
Others 60,7 55,2 10,0
Total operating revenues 2.424,0 2.493,7 (2,8)
(1) Net of foreign participation
(2) Including discounts, special services, IRIS services and others.
Telefonica de Espana Group
Consolidated Income Statement
Unaudited figures (Euros in millions)
January-March
2002 2001 % Chg.
Operating revenues 2.518,7 2.588,7 (2,7)
Telefonica de Espana 2.424,0 2.493,7 (2,8)
Others and eliminations 94,6 95,0 (0,4)
Internal expend capitalized in fixed assets (1) 41,0 42,9 4,3
Operating expenses (1.408,3) (1.355,6) 3,9
Other operating income (expense) net (24,5) (20,3) 20,8
EBITDA 1.126,9 1.255,7 (10,3)
Depreciation and amortization (678,8) (676,7) 0,3
Operating profit 448,1 579,0 (22,6)
Profit from associated companies (0,3) 0,0 n.s.
Financial income (expense) net (101,7) (104,9) (3,0)
Amortization of goodwill (1,2) (0,1) n.s.
Extraordinary income (expense) net (66,1) 51,6 c.s.
Income before taxes 278,8 525,7 (47,0)
Income taxes (46,3) (143,1) (67,7)
Net income before minority interests 232,5 382,6 (39,2)
Minority interests 0,0 0,0 0,0
Net income 232,5 382,6 (39,2)
(1) Including works in process
Telefonica Latinoamerica Group
Companies Financial Data
Unaudited figures (Euros in millions)
January - March
2002 2001 % Chg
Telesp (1)
Operating revenues 1.138,8 1.101,2 3,4
EBITDA 581,5 563,0 3,3
EBITDA margin 51,1% 51,1% (0,1 p.p.)
Telefonica de Argentina
Operating revenues 342,9 712,5 (51,9)
EBITDA 179,0 370,0 (51,6)
EBITDA margin 52,2% 51,9% 0,3 p.p.
Telefonica CTC Chile
Operating revenues 335,6 353,6 (5,1)
EBITDA 140,4 140,9 (0,4)
EBITDA margin 41,8% 39,8% 2,0 p.p.
Telefonica del Peru
Operating revenues 342,6 324,3 5,6
EBITDA 159,3 166,6 (4,4)
EBITDA margin 46,5% 51,4% (4,9 p.p.)
Note: EBITDA before management fees
Note: Data for Telefonica de Argentina include the ISP business of Advance, while those of Telefonica CTC Chile
and Telefonica del Peru include Sonda and CableMagico, respectively.
(1) EBITDA before management fee includes Sistel adjustment for both '01 and '02, plus 4.6 million euros in 2002,
taken from inventory reserves.
Telefonica Latinoamerica Group
Selected Operating Data
Unaudited figures
January-March
2002 2001 % Chg.
Lines in service (thousands) 21.614 20.024 7,9%
Telesp 12.577 11.195 12,3%
Telefonica de Argentina 4.546 4.392 3,5%
Telefonica CTC Chile 2.746 2.726 0,8%
Telefonica del Peru 1.745 1.712 1,9%
ADSL connections 273.432 66.751
Telesp 215.671 61.203 252,4%
Telefonica de Argentina 28.613 2.180 n.s.
Telefonica CTC Chile 19.642 1.701 n.s.
Telefonica del Peru (1) 9.506 1.667 470,2%
% ADSL coverage
Telesp 70% 61% 8,9 p.p.
Telefonica de Argentina 56% 48% 8,4 p.p.
Telefonica CTC Chile 60% 31% 29,0 p.p.
Telefonica del Peru 56% 44% 11,7 p.p.
Total traffic (million of minutes) (2) 27.960 26.297 6,3%
Telesp 17.285 14.759 17,1%
Telefonica de Argentina 5.174 5.484 (5,6%)
Telefonica CTC Chile 3.756 3.953 (5,0%)
Telefonica del Peru 1.745 2.101 (16,9%)
Employees (3) 30.369 34.818 (12,8%)
Telesp 10.557 13.472 (21,6%)
Telefonica de Argentina 8.665 8.940 (3,1%)
Telefonica CTC Chile 6.163 7.444 (17,2%)
Telefonica del Peru 4.984 4.962 0,4%
Lines/Employees (4) 712 575 23,7%
Telesp 1.191 831 43,4%
Telefonica de Argentina 525 491 6,8%
Telefonica CTC Chile 812 599 35,7%
Telefonica del Peru 480 345 39,0%
Note: The data for Telefonica CTC Chile are for Fixed Telephony (FTO) and Sonda. TdP data include FTO and
Cablemagico.
TASA modified its fiscal year. Therefore, the data are for the January-March '01 and January-March '02 periods
(1) For TdP, includes CABLENET lines in service.
(2) Includes total local traffic billed and incoming and outgoing LDN and LDI.
(3) Telesp includes effective endowment made by Telesp, Assist and long distance in both March 2002 and March 2001.
TASA includes effective endowment made by the company, including Interactiva, a criterion adopted retroactively. In
CTC, the number of employees as of March 2001 includes employees assigned to CSC for the current fiscal year.
(4) Calculated ratio with effective endowment made by Fixed Telephony Operator (FTO). In CTC is not included Istel
employees or repairers and installers.
Telefonica Latinoamerica Group
Consolidated Income Statement
Unaudited figures (Euros in millions)
January-March
2002 2001 % Chg.
Operating revenues 2.155,1 2.594,7 (16,9)
Internal expend capitalized in fixed assets (1) 26,4 44,7 (40,8)
Operating expenses (1.042,5) (1.278,2) (18,4)
Other operating income (expense) net (89,1) (69,8) 27,6
EBITDA 1.050,0 1.291,5 (18,7)
Depreciation and amortization (631,0) (657,1) (4,0)
Operating profit 419,0 634,4 (33,9)
Profit from associated companies 0,9 (2,0) c.s.
Financial income (expense) net (574,8) (197,9) 190,4
Amortization of goodwill (22,1) (20,6) 7,2
Extraordinary income (expense) net (12,7) (76,3) (83,3)
Income before taxes (189,8) 337,6 c.s.
Income taxes 132,6 (121,4) c.s.
Net income before minority interests (57,2) 216,2 c.s.
Minority interests (15,4) (41,7) (63,1)
Net income (72,6) 174,5 c.s.
(1) Including works in process
Telefonica Moviles Group
Selected Operating Data
Unaudited figures (Thousands)
CELLULAR CUSTOMERS
March - 2002 % Chg. 02/01 Weighted % Partic(1)
T Moviles Espana 17.315 21,5% 16.051
Celular CRT 1.867 21,0% 699
TeleSudeste Celular 3.123 20,0% 2.408
TeleLeste Celular 851 19,1% 219
TCP Argentina 1.696 (8,4%) 1.540
T Moviles Peru 1.131 22,8% 1.027
TEM El Salvador 221 (7,1%) 125
TEM Guatemala 142 (7,3%) 89
NewCom Wireless Puerto Rico (2) 186 9,8% -
Telefonica Moviles Mexico 1.250 21,1% 1.158
Medi Telecom 1.235 113,6% 349
Telefonica Movil Chile (3) 1.651 27,5% 721
Quam 91 - 48
Total Managed 30.760 21,4% 24.434
(1) Number of lines weighted for the Telefonica Group's stake in each company.
(2) Managed by TEM
(3) Managed by TEM and part-owned by the Telefonica Group.
Telefonica Moviles Espana
Selected Operating Data
Unaudited figures (Thousands)
January-March
2002 2001 % Chg.
Cellular subscribers 17.315 14.246 21,5%
Contract 5.465 4.922 11,0%
Prepaid 11.849 9.324 27,1%
Subscribers net adds in year to date (a)
Contract 166 155 7,1%
Prepaid 355 422 -15,8%
TME Penetration (b) 41,5% 34,2% 21,5%
Total airtime minutes, in millions (a) 7.102 6.080 16,8%
SMS 1.744 1.277 36,6%
Employees 4.388 4.091 7,3%
(a) January-March accumulated data.
(b) Telefonica Moviles Espana cellular lines / 100 inhabitants
Telefonica Moviles Group: Participated Companies
Selected Operating Data
Unaudited figures (Thousands)
January-March
2002 2001 % Chg.
Europe and Mediterranean area customers 18.641 14.824 25,7%
Contract 5.568 4.954 12,4%
Prepaid 13.073 9.870 32,5%
Latin America customers (1) 10.282 8.022 28,2%
Contract 3.194 3.022 5,7%
Prepaid 7.088 5.001 41,7%
Total minutes (2) 9.884 8.488 16,4%
(1) Includes only Telefonica Moviles participations
(2) January-March accumulated minutes of the TEM consolidated companies
Telefonica Moviles Group
Selected Financial Data
Unaudited figures (Euros in millions)
January - March
2002 2001 % Chg
Telefonica Moviles Espana
Operating Revenues 1.574,0 1.299,9 21,1%
EBITDA 784,1 583,3 34,4%
EBITDA Margin 49,8% 44,9% 4,9 p.p.
Brazilian Companies (1)
Operating Revenues 364,3 329,4 10,6%
EBITDA 143,1 150,5 -4,9%
EBITDA Margin 39,3% 45,7% (6,4 p.p.)
Telefonica Moviles Mexico
Operating Revenues 126,6 -
EBITDA 14,2 -
EBITDA Margin 11,2% -
TCP Argentina
Operating Revenues 73,9 196,3 -62,3%
EBITDA 17,9 20,6 -13,1%
EBITDA Margin 24,2% 10,5% 14 p.p.
Telefonica Moviles Peru
Operating Revenues 76,9 68,1 12,9%
EBITDA 25,0 19,1 31,0%
EBITDA Margin 32,6% 28,1% 4,5 p.p.
T. Moviles Guatemala and El Salvador
Operating Revenues 47,2 44,8 5,4%
EBITDA 14,2 (5,7) c.s.
EBITDA Margin 30,0% (12,7%) c.s.
(1) TeleSudeste Celular, Teleleste and CRT Celular
Mobile Business of Telefonica Group
Consolidated Income Statement
Unaudited figures (Euros in millions)
January-March
2002 2001 % Chg.
Operating revenues 2.348,8 2.021,6 16,2
Internal expend capitalized in fixed assets (1) 22,8 16,1 41,6
Operating expenses (1.411,4) (1.221,7) 15,5
Other operating income (expense) net (19,3) (61,6) (68,7)
EBITDA 940,8 754,5 24,7
Depreciation and amortization (360,7) (323,8) 11,4
Operating profit 580,2 430,7 34,7
Profit from associated companies (33,6) (30,5) 10,2
Financial income (expense) net (92,5) (103,3) (10,4)
Amortization of goodwill (24,6) (12,2) 101,7
Extraordinary income (expense) net (5,5) (48,9) (88,8)
Income before taxes 424,0 235,9 79,7
Income taxes (167,3) (127,0) 31,7
Net income before minority interests 256,6 108,9 135,8
Minority interests 24,1 29,8 (19,2)
Net income 280,7 138,6 102,5
(1) Including works in process
Telefonica Moviles Group
Consolidated Income Statement
Unaudited figures (Euros in millions)
January-March
2002 2001 % Chg.
Operating revenues 2.261,6 1.939,3 16,6
Internal expend capitalized in fixed assets (1) 22,8 16,1 41,6
Operating expenses (1.349,9) (1.150,0) 17,4
Other operating income (expense) net (17,8) (54,2) (67,2)
EBITDA 916,6 751,2 22,0
Depreciation and amortization (340,8) (304,9) 11,8
Operating profit 575,8 446,2 29,0
Profit from associated companies (33,6) (30,4) 10,2
Financial income (expense) net (77,8) (84,9) (8,4)
Amortization of goodwill (20,6) (7,3) 183,3
Extraordinary income (expense) net (4,7) (47,7) (90,2)
Income before taxes 439,1 275,9 59,2
Income taxes (168,8) (130,9) 29,0
Net income before minority interests 270,3 145,0 86,4
Minority interests 16,4 9,4 74,6
Net income 286,7 154,4 85,6
(1) Including works in process
Telefonica Data Group
Consolidated Income Statement
Unaudited figures (Euros in millions)
January-March
2002 2001 % Chg.
Operating revenues 456,8 406,4 12,4
Internal expend capitalized in fixed assets (1) 3,5 9,1 (61,2)
Operating expenses (436,9) (408,8) 6,9
Other operating income (expense) net (6,5) 0,6 c.s.
EBITDA 16,9 7,3 133,3
Depreciation and amortization (54,6) (39,8) 37,2
Operating profit (37,7) (32,5) 15,8
Profit from associated companies (5,2) (0,2) n.s.
Financial income (expense) net (24,5) (6,9) 254,8
Amortization of goodwill (20,2) (20,4) (1,2)
Extraordinary income (expense) net (5,1) (3,5) 46,3
Income before taxes (92,7) (63,5) 46,0
Income taxes 33,5 (8,4) c.s.
Net income before minority interests (59,2) (71,9) (17,6)
Minority interests 15,7 11,4 37,7
Net income (43,5) (60,5) (28,1)
(1) Including works in process
Admira Media Group
Consolidated Income Statement
Unaudited figures (Euros in millions)
January-March
2002 2001 % Chg.
Operating revenues 217,8 283,7 (23,2)
Internal expend capitalized in fixed assets (1) 0,2 0,1 396,0
Operating expenses (213,2) (273,4) (22,0)
Other operating income (expense) net 1,9 0,2 n.s.
EBITDA 6,8 10,5 (35,4)
Depreciation and amortization (15,8) (17,2) (8,4)
Operating profit (9,0) (6,7) 33,7
Profit from associated companies (65,2) (30,4) 114,4
Antena 3 TV (0,1) 8,4 c.s.
Via Digital (31,4) (33,2) (5,4)
Others (33,7) (5,6) 502,4
Financial income (expense) net (37,1) (21,2) 74,8
Amortization of goodwill (22,1) (30,0) (26,3)
Extraordinary income (expense) net (43,4) (2,6) n.s.
Income before taxes (176,8) (90,9) 94,4
Income taxes 44,3 21,7 104,5
Net income before minority interests (132,5) (69,3) 91,3
Minority interests (1,9) 6,1 c.s.
Net income (134,3) (63,2) 112,5
(1) Including works in process
Note: In March 2002, Onda Cero was consolidated within Antena 3.
Terra-Lycos Group
Selected Operating Data
Unaudited figures
March 2002 March 2001 % Change
Total Subscribers (million) 4,9
Access Subscribers (million) 4,4 4,5 (2,5)
% Pay 30% 24% 6,0 p.p.
% Free 70% 76% (6,0 p.p.)
ADSL (thousand) 272 60 353,3
Spain 122 36 238,9
Latam 150 24 525,0
Comm. Services+Portal Subscribers (million) 0,52 n.s. -
Total Pay Subscribers (million) 1,8 n.s. -
Access 72% n.s. -
Communication Services+Portal 28% n.s. -
Average daily page views (million) 450 431 4,4
Unique users (million) 115 99 16,2
Terra-Lycos Group
Consolidated Income Statement
Unaudited figures (Euros in millions)
January-March
2002 2001 % Chg.
Operating revenues 159,5 177,2 (10,0)
Internal expend capitalized in fixed assets (1) 0,3 0,1 198,2
Operating expenses (200,9) (252,7) (20,5)
Other operating income (expense) net (5,5) (7,3) (25,2)
EBITDA (46,8) (82,7) (43,4)
Depreciation and amortization (40,4) (32,5) 24,4
Operating profit (87,2) (115,2) (24,3)
Profit from associated companies (21,0) (112,5) (81,3)
Financial income (expense) net 14,4 30,0 (51,9)
Amortization of goodwill (65,7) (127,6) (48,6)
Extraordinary income (expense) net (1,4) 65,5 c.s.
Income before taxes (160,8) (259,8) (38,1)
Income taxes 30,0 85,5 (64,9)
Net income before minority interests (130,8) (174,3) (25,0)
Minority interests 0,6 (0,2) c.s.
Net income (130,2) (174,5) (25,4)
(1) Including works in process
TPI Group - Yellow Pages
Operating figures in Spain
Non audited data
March
2002 2001 % Var
Books Published
Yellow Pages 6 6 0,0
White Pages 5 0 n.s.
(Euro million)
Revenue Breakdown
Advertising 20,0 13,7 45,7
Publishing 14,2 10,3 38,7
Yellow Pages 11,2 10,3 8,6
White Pages 3,1 0,0 n.s.
Other 0,0 0,0 n.s.
Internet 4,9 2,8 73,9
Operator Assisted Yellow Pages 0,9 0,6 34,4
Operator 0,6 0,0 n.s.
Other 0,7 1,0 (27,4)
TPI-Paginas Amarillas Group
Consolidated Income Statement
Unaudited figures (Euros in millions)
January-March
2002 2001 % Chg.
Operating revenues 62,9 24,6 156,1
Operating expenses (55,4) (33,6) 64,7
EBITDA 7,5 (9,1) c.s.
Depreciation and amortization (7,0) (3,8) 82,4
Operating profit 0,6 (12,9) c.s.
Profit from associated companies (0,3) (0,2) (77,1)
Financial income (expense) net (2,4) (1,9) 23,0
Amortization of goodwill (0,8) (0,5) 41,5
Consolidation adjustments 0,3 0,0 ns
Extraordinary income (expense) net 0,1 0,1 (54,1)
Income before taxes (2,5) (15,4) (83,7)
Income taxes 1,7 5,4 (69,1)
Net income before minority interests (0,9) (10,0) (91,5)
Minority interests 3,3 2,3 44,1
Net income 2,5 (7,7) c.s.
Directories of Telefonica Group
Consolidated Income Statement
Unaudited figures (Euros in millions)
January-March
2002 2001 % Chg.
Operating revenues 68,0 51,6 31,7
Internal expend capitalized in fixed assets (1) 0,0 (0,8) c.s.
Operating expenses (56,2) (56,9) (1,2)
Other operating income (expense) net (4,9) (4,8) 0,9
EBITDA 6,9 (10,9) c.s.
Depreciation and amortization (7,4) (5,4) 38,8
Operating profit (0,5) (16,3) (96,7)
Profit from associated companies (0,3) (0,2) 76,8
Financial income (expense) net (6,4) (5,8) 9,9
Amortization of goodwill (0,5) (0,5) (13,1)
Extraordinary income (expense) net (0,0) 0,0 n.s.
Income before taxes (7,7) (22,8) (66,2)
Income taxes 1,7 4,8 (65,7)
Net income before minority interests (6,1) (18,0) (66,3)
Minority interests 3,3 2,7 23,0
Net income (2,7) (15,3) (82,1)
(1) Including works in process
Note: Includes all directory businesses of Grupo Telefonica from January 1, 2001
Atento Group
Consolidated Income Statement
Unaudited figures (Euros in millions)
January-March
2002 2001 % Chg.
Operating revenues 156,4 153,5 1,9
Internal expend capitalized in fixed assets (1) 0,0 0,0 n.s.
Operating expenses (145,9) (142,1) 2,7
Other operating income (expense) net (0,1) (0,1) (8,0)
EBITDA 10,4 11,4 (8,5)
Depreciation and amortization (23,4) (16,2) 44,3
Operating profit (12,9) (4,8) 169,7
Profit from associated companies 0,0 0,0 n.s.
Financial income (expense) net (17,3) (14,4) 20,0
Amortization of goodwill (2,2) (2,1) 5,2
Extraordinary income (expense) net (1,1) (2,1) (47,2)
Income before taxes (33,5) (23,4) 43,4
Income taxes 6,0 3,8 57,7
Net income before minority interests (27,6) (19,6) 40,6
Minority interests 0,4 0,4 (3,3)
Net income (27,2) (19,2) 41,6
(1) Including works in process
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