Telefónica’s European operation saw modest growth in its pay-TV take-up business in the first half of the year.
Although it reached the landmark figure of 1 million subscribers at the end of June, this was only 1% more than in the same period in 2011.
In its home market, the company’s revenues amounted to €7,720 million in H1, or 11.7% less than a year earlier.
Operating expenses were meanwhile down by 9.2% year-on-year to €4,537 million and OIBDA lower by 13.6% at €3,387 million.
However, for the group as whole, which includes significant interests in Latin America, there was a significant increase in net profit.
It amounted to €2,075 million in H1 and €1,327 million in Q2, while consolidated OIBDA stood at €10,431 million in H1, rising 5.3% q-o-q in the second quarter.