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FRANKFURT (Reuters) – Telefonica Deutschland (O2Dn.DE) continued its robust recovery in the second quarter, with mobile revenue growth becoming positive, resulting in revenue growth of 1.6%.
The second largest mobile operator in Germany also recorded a 21.5% increase in operating profit before depreciation (OIBDA) – an indirect indicator of cash flow – although this evolution was favored by changes in the rules accounting for leases.
Excluding this factor, OIBDA rose 0.7% in the first six months of the year, the company said in a statement.
Telefonica Deutschland, which operates under the O2 brand, has reiterated its targets for stable turnover and stable profitability to slightly better as it prepares to launch 5G mobile services.
CEO Markus Haas said Telefonica was well positioned to compete, having also had access to its competitor (Vodafone) (VOD.Lcable network – a concession that garnered support from the European Union for the UK-based company to buy theLBTYA.O) active in Germany and Central Europe.
Reporting by Douglas Busvine, edited by Riham Alkousaa
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