Telefonica SA Expects FY24 Revenue Growth of ~1%, EBITDA Growth of 1%-2%, Operating Cash Flow of 1%-2%

Telefónica sets new targets for 2024, the first full year of the GPS strategic plan, consisting of revenue growth of around 1%, EBITDA growth of between 1% and 2% and operating cash flow (EBITDAaL-CapEx) of between 1% and 2%. It also foresees a CapEx over revenue figure of up to 13% and an increase in free cash flow of more than 10%. With regard to the FCF growth target for this year, it will be based on the €2,308 million achieved under the new definition that Telefónica will apply from this year onwards