
Telefónica repoerted 2018 revenues of €48,693m, up 2.4% organic (-6.4% reported) compared to a year earlier. In Q4, the growth rate accelerated to 3% y-o-y (-1.9% reported), reaching €12,917m. OIBDA reached €15,571m in 2018 and grew +3.5% y-o-y organic (-3.8% reported). Net debt fell for the 7th consecutive quarter and stood at €41,785m as of December 2018 (5.5% y-o-y reduction). Free cash flow excluding spectrum (€5,578m in January-December) rose...