Telefónica Deutschland has successfully held its first virtual Annual General Meeting. Despite the COVID-19 pandemic, shareholders were able to resolve as planned agenda items such as the payment of the dividend for 2019 and the Supervisory Board election.
Telefónica Deutschland has made a good start to the year 2020. The company grew more strongly than in previous quarters in terms of both revenue and earnings. In the first three months, revenue rose by 3.8 percent to 1.85 billion euros, while adjusted operating income (OIBDA) increased by 1.6 percent to 532 million euros.
The Supervisory Board of Telefónica Deutschland Holding AG today elected Peter Löscher as the new Chairman of the Supervisory Board. He has been a member of the company's Supervisory Board since April 1, 2020 by court appointment.
Telefónica Deutschland has successfully concluded the 2019 financial year and has fully achieved its targets. As forecast, the company grew profitably: Revenue rose by 1.1 percent to 7.4 billion euros, while adjusted operating income (OIBDA) increased by 1 percent on a comparable basis. The significantly improved network quality and the introduction of innovative tariffs, especially at O2, paid off. With almost 1.5 million additional postpaid subscribers, more people switched to the O2 network than ever before since the takeover of E-Plus.
The Management Board and Supervisory Board of Telefónica Deutschland are very pleased that they were able to win Peter Löscher as a suitable successor to Laura Abasolo García de Baquedano. He is to become a member of the Supervisory Board of the company with effect from April 1, 2020.
Telefónica Deutschland has secured a loan from the European Investment Bank (EIB) amounting to 450 million euros. The company intends to use the proceeds to build an energy-efficient 5G network and to upgrade its LTE network. In December, Telefónica Deutschland announced that it would significantly increase its investment in the mobile network in 2020 and 2021.