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Telefonica Passes 200 Million Subscriber Mark

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Telef nica reported a slight increase of 0.7% in its first half profits to EUR 3.62 billion (USD5.08 billion). Excluding one off capital gains in 2008, the increase would have been 11%. Revenues however fell by two percent to EUR 27.6 billion.

Latin America was once again the Group's growth driver, contributing 39.8% to consolidated revenues and 39% to OIBDA, and, to a lesser extent, by the positive performance of Telefónica Europe, which contributed 0.5 percentage points.

Telefónica Group's wireless subscriber base exceeded 200 million at the end of June, with net adds of slightly more than 5 million customers in the first half of 2009 and around 2.7 million added in the second quarter of 2009. The main drivers of net adds in the first half were Brazil (1.9 million), Germany (0.7 million), Mexico (0.6 million) and the United Kingdom (0.4 million).

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