Spain’s Telefonica sees core profit growing 1.5%-2.5% in 2026

MADRID: Spanish telecoms giant Telefonica said on Tuesday it expects core profit to grow between 1.5% and 2.5% in 2026, with a similar increase in revenues, as it works to further ‌reduce ⁠leverage under ⁠its new strategy.

The company forecast free cash flow of about 3 billion euros ($3.53 billion) this year, 45% higher than the nearly 2 billion euros generated in 2025, citing lower capital intensity and operational efficiency gains.