(Il Sole 24 Ore Radiocor) - Milano, 14 mag - The Spanish telecommunications group Telefonica said that in the first quarter adjusted net income from continuing operations fell 21.5% to 482 million euros.

Revenue rose 0.4% to 8.127 billion euros. On a comparable basis, the top line rose 0.8%.

Adjusted EBITDA totalled 2.836 billion euros, up a reported 1.3% and a comparable 1.8%.

On a comparable basis, Telefonica expects 2026 revenue and adjusted EBITDA up 1.5-2.5%. Free cash flow (FCF) is forecast at 3.0 billion euros for the full year compared with 333 million in the first quarter The company plans a 2026 dividend of 0.15 euros per share in cash to be paid in June 2027.

Telefonica confirms its long-term targets.

It anticipates comparable revenue to clock a compound annual growth rate (CAGR) of 1.5-2.5% for 2025-2028, accelerating to 2.5-3.5% in 2028-2030.

Adjusted EBITDA CAGR is forecast at 1.5-2.5% for 2025-2028 and rising to 2.5-3.5% for 2028-2030.

The FCF CAGR is forecast at 3-5% for 2025-2028.

The leverage ratio is seen at about 2.5 times in 2028.

The target remuneration for 2027 and 2028 will be based on a 40-60% payout of FCF base for the dividend, to be paid in.

June of the following year, the company said.

(RADIOCOR) 14-05-26 12:47:20 (0365) 5 NNNN