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  • 1. DISCLAIMER This document contains financial information/data reported under IFRS. These data are preliminary, as only full compliance with International Financial Reporting Standards issued at 31/12/2005 is required, unaudited, and thus, being subject to potential future modifications. This financial information has been prepared based on the principles and regulations known to date, and on the assumption that IFRS principles presently in force will be the same as those that will be adopted to prepare the 2005 full year consolidated financial statements and, consequently, does not represent a complete and final information under these regulations. In addition, the IFRS financial information contained herein may not be comparable to financial information published by Telefónica that was prepared under Spanish GAAP.
  • 2. TELEFÓNICA GROUP SELECTED FINANCIAL DATA Unaudited figures (Euros in millions) 2004 Jan - Mar Apr - Jun Jul - Sep Oct- Dec Jan - Dec Revenues 7,093.4 7,376.5 7,593.1 8,217.9 30,280.9 Operating income before D&A (OIBDA) 2,937.6 2,802.7 3,381.5 3,100.2 12,222.0 Operating income (OI) 1,504.7 1,402.3 2,010.4 1,638.6 6,556.0 Income before taxes 1,153.5 1,112.8 1,550.7 1,049.4 4,866.4 Net income 671.4 792.6 925.2 786.5 3,175.7 Basic earnings per share 0.133 0.158 0.187 0.160 0.637 Weighted average number of ordinary shares 5,066.1 5,019.5 4,954.4 4,912.2 4,987.8 outstanding during the period (millions) NOTE: CHANGES IN THE CONSOLIDATION PERIMETER ARE EXPLAINED IN THE MAIN DOCUMENT ADDENDA.
  • 3. TELEFÓNICA GROUP CONSOLIDATED INCOME STATEMENT Unaudited figures (Euros in millions) 2004 Jan - Mar Apr - Jun Jul - Sep Oct- Dec Jan - Dec Revenues 7,093.4 7,376.5 7,593.1 8,217.9 30,280.9 Internal expenditure capitalized in fixed assets (1) 88.3 115.1 101.7 165.2 470.3 Operating expenses (4,225.4) (4,719.8) (4,267.7) (5,116.9) (18,329.8) Supplies (1,689.1) (1,806.8) (1,865.3) (2,276.1) (7,637.3) Personnel expenses (1,271.6) (1,579.0) (1,080.5) (1,164.1) (5,095.2) Subcontracts (1,138.5) (1,208.9) (1,201.6) (1,523.1) (5,072.0) Taxes (126.2) (125.1) (120.3) (153.6) (525.3) Other net operating income (expense) (42.8) 24.1 (20.9) (4.1) (43.6) Gain (loss) on sale of fixed assets 26.6 9.7 (17.5) 2.7 21.6 Impairment of goodwill and other assets (2.5) (3.0) (7.2) (164.7) (177.3) Operating income before D&A (OIBDA) 2,937.6 2,802.7 3,381.5 3,100.2 12,222.0 Depreciation and amortization (1,432.9) (1,400.3) (1,371.2) (1,461.6) (5,666.0) Operating income (OI) 1,504.7 1,402.3 2,010.4 1,638.6 6,556.0 Profit from associated companies (29.5) (12.7) (9.7) 1.5 (50.5) Net financial income (expense) (321.6) (276.8) (449.9) (590.7) (1,639.1) Income before taxes 1,153.5 1,112.8 1,550.7 1,049.4 4,866.4 Income taxes (406.6) (234.3) (507.8) (364.0) (1,512.8) Income from continuing operations 746.9 878.5 1,042.9 685.4 3,353.6 Income (Loss) from discontinued operations (29.9) (11.9) (17.1) 190.8 132.0 Minority interest (45.6) (74.0) (100.6) (89.7) (309.9) Net income 671.4 792.6 925.2 786.5 3,175.7 Weighted average number of ordinary shares 5,066.1 5,019.5 4,954.4 4,912.2 4,987.8 outstanding during the period (millions) Basic earnings per share 0.133 0.158 0.186 0.158 0.634 (1) Including work in process.
  • 4. TELEFÓNICA GROUP CONSOLIDATED BALANCE SHEET Unaudited figures (Euros in millions) 2004 March June September December Non-current assets 46,999.4 46,257.9 45,642.4 48,932.3 Intangible assets 4,848.7 4,568.5 4,564.2 5,674.1 Goodwill 4,131.3 4,064.4 4,369.1 5,949.4 Property, plant and equipment and Investment property 24,016.6 23,065.9 23,111.8 23,221.7 Long-term financial assets and other non-current assets 4,729.8 5,498.5 4,917.9 5,112.6 Deferred tax assets 9,272.9 9,060.6 8,679.3 8,974.3 Current assets 10,978.1 10,910.3 11,979.2 11,146.6 Inventories 437.0 576.8 634.1 655.5 Trade and other receivables 5,555.4 5,677.2 5,652.1 5,919.8 Current tax receivable 861.6 1,015.2 1,226.8 1,075.3 Short-term financial investments 3,550.0 2,895.1 3,722.3 2,573.0 Cash and cash equivalents 571.2 744.7 722.8 914.3 Non-current assets classified as held for sale 2.8 1.2 21.1 8.7 Total Assets = Total Equity and Liabilities 57,977.5 57,168.2 57,621.5 60,078.9 Equity 14,275.8 11,841.2 12,086.8 11,960.0 Equity attributable to equity holders of the parent 12,089.6 9,882.8 10,434.3 10,439.8 Minority interest 2,186.2 1,958.3 1,652.4 1,520.3 Non-current liabilities 30,381.2 29,951.7 27,796.8 28,125.0 Long-term financial debt 19,781.9 19,339.3 17,211.3 17,492.2 Deferred tax liabilities 1,429.7 1,235.8 1,414.8 1,642.6 Long-term provisions 7,836.5 8,063.1 7,932.4 7,790.1 Other long-term liabilities 1,333.1 1,313.4 1,238.3 1,200.1 Current liabilities 13,320.4 15,375.4 17,737.9 19,993.8 Short-term financial debt 5,450.6 6,361.5 8,275.6 10,210.4 Trade and other payables 4,909.2 4,614.8 4,596.5 5,632.3 Current tax payable 1,250.2 1,352.9 1,618.8 1,824.9 Short-term provisions and other liabilities 1,710.5 3,046.2 3,243.5 2,323.5 Liabilities associated with non-current assets classified as held for sale 0.0 0.0 3.6 2.7 Financial Data Net Financial Debt (1) 0.0 0.0 0.0 0.0 (1) Net Financial Debt = Long term financial debt + Other long term liabilities + Short term financial debt - Short term financial investments - Cash and cash equivalents - Long term financial assets and other non-current assets.
  • 5. TELEFÓNICA GROUP FREE CASH FLOW AND CHANGE IN DEBT Unaudited figures (Euros in millions) 2004 Jan - Mar Jan - Jun Jan - Sep Jan - Dec I Cash flows from operations 2,557.8 5,276.6 8,287.3 II Net interest payment (1) (382.8) (488.2) (952.7) III Payment for income tax (32.5) (66.8) (151.0) A=I+II+III Net cash provided by operating activities 2,142.5 4,721.6 7,183.6 B Payment for investment in fixed and intangible assets (826.8) (1,707.3) (2,526.2) C=A+B Net free cash flow after CAPEX 1,315.7 3,014.3 4,657.4 D Net Cash received from sale of Real Estate 143.2 204.1 210.8 E Net payment for financial investment (64.5) (478.9) (156.2) F Net payment for dividends and treasury stock (2) (304.5) (2,192.4) (3,341.4) G=C+D+E+F Free cash flow after dividends 1,089.9 547.1 1,370.6 H Effects of exchange rate changes on net financial debt I Effects on net financial debt of changes in consolid. and others J Net financial debt at beginning of period K=J-G+H+I Net financial debt at end of period (1) Including cash received from dividends paid by subsidiaries that are not under full consolidation method. (2) Dividends paid by Telefónica S.A. and dividend payments to minoritaries from subsidiaries that are under full consolidation method and treasury stock.
  • 6. TELEFÓNICA GROUP RECONCILIATIONS OF CASH FLOW AND OIBDA MINUS CAPEX Unaudited figures (Euros in millions) 2004 Jan - Mar Jan - Jun Jan - Sep Jan - Dec OIBDA 2,937.6 5,740.3 9,121.9 - CAPEX accrued during the period (EoP exchange rate) (619.5) (1,348.4) (2,407.9) - Payments related to commitments (233.4) (459.3) (679.1) - Net interest payment (382.8) (488.2) (952.7) - Payment for income tax (32.5) (66.8) (151.0) - Results from the sale of fixed assets (26.6) (36.3) (18.9) - Investment in working cap. and other deferred income and expenses (327.1) (327.0) (254.9) = Net Free Cash Flow after Capex 1,315.7 3,014.3 4,657.4 + Net Cash received from sale of Real Estate 143.2 204.1 210.8 - Net payment for financial investment (64.5) (478.9) (156.2) - Net payment for dividends and treasury stock (304.5) (2,192.4) (3,341.4) = Free Cash Flow after dividends 1,089.9 547.1 1,370.6
  • 7. TELEFÓNICA GROUP EXCHANGE RATES APPLIED TO P&L 2004 Jan - Mar Jan - Jun Jan - Sep Jan - Dec USA (US Dollar/Euro) 1.249 1.226 1.225 1.242 Argentina (Argentinean Peso/Euro) 3.631 3.562 3.592 3.651 Brazil (Brasilian Real/Euro) 3.619 3.641 3.639 3.632 Chile (Chilean Peso/Euro) 735.294 746.269 751.880 757.576 Colombia (Colombian Peso/Euro) 3,386.202 3,311.258 3,267.974 3,257.329 El Salvador (Colon/Euro) 10.933 10.731 10.717 10.868 Guatemala (Quetzal/Euro) 10.137 9.883 9.810 9.887 Mexico (Mexican Peso/Euro) 13.717 13.710 13.805 14.017 Nicaragua (Cordoba/Euro) 19.553 19.309 19.402 19.794 Peru (Peruvian Nuevo Sol/Euro) 4.338 4.262 4.225 4.240 Uruguay (Uruguayan Peso/Euro) 36.905 36.298 35.894 35.587 Venezuela (Bolivar/Euro) 2,398.844 2,352.941 2,352.941 2,386.635 Note: These exchange rates are used to convert the P&L accounts of the Group foreign subsidiaries from local currency to euros. EXCHANGE RATES APPLIED TO BALANCE SHEET AND CAPEX 2004 March June September December USA (US Dollar/Euro) 1.222 1.215 1.241 1.362 Argentina (Argentinean Peso/Euro) 3.496 3.595 3.699 4.058 Brazil (Brasilian Real/Euro) 3.555 3.777 3.547 3.616 Chile (Chilean Peso/Euro) 751.880 775.194 757.576 757.576 Colombia (Colombian Peso/Euro) 3,273.783 3,278.689 3,215.434 3,257.329 El Salvador (Colon/Euro) 10.696 10.636 10.858 11.919 Guatemala (Quetzal/Euro) 9.912 9.637 9.823 10.570 Mexico (Mexican Peso/Euro) 13.635 13.872 14.160 15.344 Nicaragua (Cordoba/Euro) n.d. 19.369 20.016 22.242 Peru (Peruvian Nuevo Sol/Euro) 4.231 4.220 4.147 4.470 Uruguay (Uruguayan Peso/Euro) 36.305 36.101 34.002 35.958 Venezuela (Bolivar/Euro) 2,347.008 2,336.449 2,380.952 2,617.801 Note: Exchange rates as of end of period.
  • 8. TELEFÓNICA DE ESPAÑA PARENT COMPANY OPERATING REVENUES Unaudited figures (Euros in millions) 2004 Jan - Mar Apr - Jun Jul - Sep Oct- Dec Jan - Dec Traditional Access (1) 680.1 709.4 722.9 710.7 2,823.2 Traditional Voice Services 1,261.0 1,324.2 1,290.9 1,323.4 5,199.4 Domestic Traffic (2) 370.1 373.1 346.2 378.3 1,467.6 Fixed to Mobile Traffic 283.9 310.4 309.4 303.7 1,207.4 International Traffic 87.8 97.7 108.8 115.8 410.1 Intelligent Network, other voice consumption and bonusses (3) 30.8 77.2 63.4 65.7 237.1 Interconnection (4) 212.8 206.9 226.3 222.9 868.9 Handsets sales and others (5) 275.6 259.0 236.7 237.0 1,008.3 Internet Broadband Services 333.9 363.5 378.0 425.6 1,501.1 Narrowband 84.1 72.9 67.0 61.9 285.9 Broadband 249.9 290.6 311.0 363.7 1,215.2 Retail (6) 194.9 227.6 244.7 283.6 950.8 Wholesale (7) 55.0 63.0 66.3 80.1 264.4 Data Services 245.7 242.4 243.3 247.2 978.6 VPN, Leased Circuits and Broadcasting 173.6 164.7 159.3 176.6 674.1 Wholesale 72.1 77.8 84.0 70.6 304.4 IT Services 52.7 66.4 52.2 64.1 235.3 Total operating revenues 2,573.4 2,705.9 2,687.3 2,771.0 10,737.6 (1) Monthly and connection fees (PSTN, Public Use Telephony, ISDN and Corporate Services) and Telephone booths surcharges. (2) Local and domestic long distance (provincial and interprovincial) traffic. (3) Intelligent Network Services, Special Valued Services, Information Services (118xy), bonusses and others. (4) Includes revenues from fixed to fixed incoming traffic, fixed to mobile incoming traffic, and transit and carrier traffic. (5) Managed Voice Services and other businesses revenues. (6) Retail ADSL services and other Internet Services. (7) Includes Megabase, Megavía, GigADSL, and local loop unbundling.
  • 9. TELEFÓNICA DE ESPAÑA GROUP CONSOLIDATED INCOME STATEMENT Unaudited figures (Euros in millions) 2004 Jan - Mar Apr - Jun Jul - Sep Oct- Dec Jan - Dec Revenues 2,680.7 2,822.6 2,804.8 2,894.1 11,202.2 Internal expenditure capitalized in fixed assets (1) 29.9 36.5 30.9 47.0 144.3 Operating expenses (1,671.6) (2,015.5) (1,560.4) (1,623.5) (6,871.0) Other net operating income (expense) 5.8 31.8 11.9 14.6 64.1 Gain (loss) on sale of fixed assets 25.0 4.5 3.6 9.9 43.0 Impairment of goodwill and other assets (4.8) (3.7) (3.1) (11.1) (22.6) Operating income before D&A (OIBDA) 1,065.0 876.1 1,287.7 1,331.1 4,560.0 Depreciation and amortization (629.4) (605.1) (564.5) (568.7) (2,367.7) Operating income (OI) 435.7 271.0 723.2 762.4 2,192.4 Profit from associated companies (0.2) (0.2) 0.0 (0.1) (0.5) Net financial income (expense) (156.6) (71.9) (147.8) (147.4) (523.7) Income before taxes 278.9 198.9 575.4 614.9 1,668.1 Income taxes (91.0) (59.9) (200.5) (203.4) (554.8) Income from continuing operations 187.9 139.1 374.9 411.5 1,113.4 Income (Loss) from discontinued operations 0.0 0.0 0.0 0.0 0.0 Minority interest 0.0 0.0 (0.1) 0.0 (0.2) Net income 187.9 139.0 374.8 411.5 1,113.2 (1) Including work in process.
  • 10. TELEFÓNICA LATINOAMÉRICA GROUP SELECTED FINANCIAL DATA Unaudited figures (Euros in millions) 2004 Jan - Mar Apr - Jun Jul - Sep Oct- Dec Jan - Dec Telesp Revenues 917.9 876.4 953.4 968.6 3,716.2 OIBDA 395.8 388.6 445.0 448.7 1,678.0 OIBDA margin 43.1% 44.3% 46.7% 46.3% 45.2% Telefonica de Argentina Revenues 192.1 206.2 204.6 208.0 810.9 OIBDA 116.7 122.9 114.5 107.2 461.3 OIBDA margin (1) 60.7% 59.6% 56.0% 51.6% 56.9% Telefonica CTC Chile Revenues 204.3 196.1 207.5 198.9 806.9 OIBDA 88.6 91.3 531.2 64.9 776.0 OIBDA margin 43.3% 46.5% n.s 32.7% n.s Telefonica del Perú Revenues 243.4 245.2 247.8 244.6 980.9 OIBDA 102.9 107.3 105.4 51.5 367.1 OIBDA margin 42.3% 43.8% 42.5% 21.1% 37.4% Telefónica Empresas América Revenues 125.3 130.2 131.4 146.1 532.9 OIBDA 19.2 13.5 0.0 18.9 51.5 OIBDA margin 15.3% 10.3% 0.0% 12.9% 9.7% TIWS Revenues 33.7 38.5 42.0 43.3 157.5 OIBDA 5.9 10.6 13.1 15.1 44.7 OIBDA margin 17.5% 27.6% 31.2% 34.8% 28.4% Note: OIBDA before management fees. Data for Telefónica de Argentina include the ISP business of Advance, while those of Telefónica del Perú includes CableMágico. interconnection. (1) Net of fixed to mobile
  • 11. TELEFÓNICA LATINOAMÉRICA GROUP CONSOLIDATED INCOME STATEMENT Unaudited figures (Euros in millions) 2004 Jan - Mar Apr - Jun Jul - Sep Oct- Dec Jan - Dec Revenues 1,659.7 1,623.2 1,722.5 1,742.9 6,748.4 Internal expenditure capitalized in fixed assets (1) 9.5 9.9 10.6 13.3 43.3 Operating expenses (896.6) (869.1) (921.4) (961.1) (3,648.2) Other net operating income (expense) (51.2) (44.8) (40.2) (140.6) (276.8) Gain (loss) on sale of fixed assets 1.3 8.2 417.3 2.0 428.8 Impairment of goodwill and other assets 0.3 0.3 0.0 (1.3) (0.7) Operating income before D&A (OIBDA) 723.0 727.8 1,188.9 655.2 3,294.8 Depreciation and amortization (396.6) (394.5) (393.1) (394.5) (1,578.7) Operating income (OI) 326.4 333.3 795.8 260.7 1,716.1 Profit from associated companies (0.7) 2.0 (1.2) 2.5 2.6 Net financial income (expense) (86.1) (125.4) (80.4) (52.7) (344.6) Income before taxes 239.6 209.9 714.2 210.4 1,374.1 Income taxes (63.2) 7.7 (151.0) (86.0) (292.6) Income from continuing operations 176.4 217.5 563.2 124.4 1,081.4 Income (Loss) from discontinued operations 0.0 0.0 0.0 0.0 0.0 Minority interest (30.9) (32.2) (246.9) (17.1) (327.1) Net income 145.5 185.3 316.2 107.3 754.3
  • 12. TELEFÓNICA MÓVILES GROUP SELECTED FINANCIAL DATA Unaudited figures (Euros in millions) 2004 Jan - Mar Apr - Jun Jul - Sep Oct- Dec Jan - Dec Spain Revenues 1,955.8 2,007.4 2,158.8 2,091.9 8,213.8 OIBDA 989.9 1,035.3 1,138.7 994.3 4,158.2 OIBDA margin 50.6% 51.6% 52.7% 47.5% 50.6% Latin America Revenues 681.9 708.4 784.3 1,377.7 3,552.3 OIBDA 134.6 110.9 131.5 174.2 551.1 OIBDA margin 19.7% 15.6% 16.8% 12.6% 15.5% Brazil Revenues 351.3 371.8 378.1 401.2 1,502.3 OIBDA 142.5 117.6 122.1 108.9 491.1 OIBDA margin 40.6% 31.6% 32.3% 27.1% 32.7% Northern Region Revenues 204.5 199.4 192.7 315.7 912.3 OIBDA (41.0) (28.0) (19.2) (30.5) (118.8) OIBDA margin -20.0% -14.0% -10.0% -9.7% -13.0% Andean Region Revenues 56.1 59.9 60.0 431.8 607.7 OIBDA 14.3 15.7 16.0 70.3 116.4 OIBDA margin 25.5% 26.3% 26.7% 16.3% 19.2% Southern Cone Revenues 70.0 77.4 153.6 229.1 530.1 OIBDA 18.9 5.5 12.6 25.5 62.5 OIBDA margin 27.0% 7.1% 8.2% 11.1% 11.8% Rest and intragroup Revenues 0.8 0.6 (2.8) (10.9) (12.3) OIBDA (17.8) (16.8) (16.1) (70.9) (121.5) OIBDA margin n.s. n.s. n.s. n.s. n.s. TOTAL Revenues 2,638.5 2,716.4 2,940.3 3,458.7 11,753.9 OIBDA 1,106.8 1,129.4 1,254.1 1,097.6 4,587.9 OIBDA margin 41.9% 41.6% 42.7% 31.7% 39.0%
  • 13. TELEFÓNICA MÓVILES GROUP CONSOLIDATED INCOME STATEMENT Unaudited figures (Euros in millions) 2004 Jan - Mar Apr - Jun Jul - Sep Oct- Dec Jan - Dec Revenues 2,638.5 2,716.4 2,940.3 3,458.7 11,753.9 Internal expenditure capitalized in fixed assets (1) 11.3 20.5 17.0 40.7 89.5 Operating expenses (1,537.5) (1,597.4) (1,672.5) (2,371.4) (7,178.9) Other net operating income (expense) (6.8) (9.4) (24.9) 25.6 (15.5) Gain (loss) on sale of fixed assets (0.1) (1.6) (5.9) (49.6) (57.2) Impairment of goodwill and other assets 1.4 0.9 0.1 (6.4) (3.9) Operating income before D&A (OIBDA) 1,106.8 1,129.4 1,254.1 1,097.6 4,587.9 Depreciation and amortization (350.2) (344.9) (359.9) (467.9) (1,522.9) Operating income (OI) 756.6 784.5 894.2 629.7 3,064.9 Profit from associated companies (12.5) (9.2) (9.5) (6.9) (38.1) Net financial income (expense) (13.2) (106.8) (120.9) (241.0) (481.9) Income before taxes 730.9 668.5 763.8 381.8 2,544.9 Income taxes (277.1) (200.2) (264.7) (126.5) (868.5) Income from continuing operations 453.7 468.4 499.1 255.2 1,676.4 Income (Loss) from discontinued operations 0.0 0.0 0.0 0.0 0.0 Minority interest (5.6) 5.8 (3.0) 18.0 15.2 Net income 448.2 474.2 496.1 273.3 1,691.7
  • 14. CELLULAR BUSINESS CONSOLIDATED INCOME STATEMENT Unaudited figures (Euros in millions) 2004 Jan - Mar Apr - Jun Jul - Sep Oct- Dec Jan - Dec Revenues 2,730.0 2,803.2 2,971.0 3,457.1 11,961.4 Internal expenditure capitalized in fixed assets (1) 11.3 21.8 16.9 40.7 90.7 Operating expenses (1,605.8) (1,667.1) (1,712.7) (2,378.2) (7,363.8) Other net operating income (expense) (7.8) (9.9) (25.3) 25.6 (17.5) Gain (loss) on sale of fixed assets (0.1) (1.6) (5.9) (49.6) (57.2) Impairment of goodwill and other assets 1.4 0.9 0.1 (6.4) (3.9) Operating income before D&A (OIBDA) 1,129.0 1,147.3 1,244.2 1,089.2 4,609.6 Depreciation and amortization (373.1) (367.4) (367.8) (471.8) (1,580.1) Operating income (OI) 755.8 779.9 876.4 617.4 3,029.5 Profit from associated companies (12.5) (10.3) (9.5) (7.1) (39.5) Net financial income (expense) (21.4) (114.5) (114.5) (245.7) (496.1) Income before taxes 721.9 655.1 752.4 364.5 2,493.9 Income taxes (276.7) (196.3) (267.1) (124.3) (864.4) Income from continuing operations 445.2 458.7 485.3 240.1 1,629.5 Income (Loss) from discontinued operations 0.0 0.0 0.0 0.0 0.0 Minority interest (0.8) 10.5 (6.4) 21.9 25.2 Net income 444.5 469.3 478.9 262.0 1,654.7 Note: Cellular Bussines included Telefónica Móvil Chile in 2004. (1) Including work in process.
  • 15. TPI - PÁGINAS AMARILLAS GROUP CONSOLIDATED INCOME STATEMENT Unaudited figures (Euros in millions) 2004 Jan - Mar Apr - Jun Jul - Sep Oct- Dec Jan - Dec Revenues 79.1 135.4 228.3 151.4 594.2 Internal expenditure capitalized in fixed assets (1) 0.0 0.0 0.0 0.0 0.0 Operating expenses (56.7) (89.0) (115.9) (98.9) (360.7) Other net operating income (expense) (2.9) (7.0) (10.5) (8.9) (29.2) Gain (loss) on sale of fixed assets 0.0 (0.5) 0.1 0.0 (0.4) Impairment of goodwill and other assets 0.0 0.0 (2.1) 0.0 (2.1) Operating income before D&A (OIBDA) 19.5 38.9 99.9 43.5 201.8 Depreciation and amortization (5.1) (5.5) (5.2) (7.5) (23.2) Operating income (OI) 14.5 33.4 94.7 36.0 178.6 Profit from associated companies (0.1) 0.0 (0.1) (0.1) (0.4) Net financial income (expense) (0.2) (1.4) 0.5 (0.9) (2.0) Income before taxes 14.1 32.0 95.1 35.0 176.2 Income taxes (4.8) (12.1) (29.1) (17.1) (63.2) Income from continuing operations 9.3 19.9 65.9 17.9 113.0 Income (Loss) from discontinued operations 0.0 0.0 0.0 0.0 0.0 Minority interest 0.5 0.1 0.0 0.0 0.5 Net income 9.7 19.9 65.9 17.9 113.5 (1) Including work in process.
  • 16. DIRECTORIES BUSINESS CONSOLIDATED INCOME STATEMENT Unaudited figures (Euros in millions) 2004 Jan - Mar Apr - Jun Jul - Sep Oct- Dec Jan - Dec Revenues 79.7 139.4 230.8 166.5 616.4 Internal expenditure capitalized in fixed assets (1) 0.0 0.0 0.0 0.0 0.0 Operating expenses (57.6) (92.8) (116.3) (108.8) (375.4) Other net operating income (expense) (3.1) (7.4) (11.4) (11.7) (33.7) Gain (loss) on sale of fixed assets 0.0 (0.5) 0.1 0.0 (0.4) Impairment of goodwill and other assets 0.0 0.0 (2.1) 0.0 (2.1) Operating income before D&A (OIBDA) 19.0 38.7 101.1 46.0 204.8 Depreciation and amortization (5.2) (5.6) (5.5) (7.5) (23.8) Operating income (OI) 13.8 33.1 95.7 38.5 181.0 Profit from associated companies (0.1) 0.0 (0.1) (0.1) (0.4) Net financial income (expense) (0.3) (3.1) (0.6) (1.7) (5.7) Income before taxes 13.3 30.0 94.9 36.7 175.0 Income taxes (4.8) (12.1) (29.1) (15.6) (61.7) Income from continuing operations 8.5 17.8 65.8 21.2 113.3 Income (Loss) from discontinued operations 0.0 0.0 0.0 0.0 0.0 Minority interest 0.5 0.1 0.0 (0.1) 0.5 Net income 9.0 17.9 65.8 21.1 113.8 (1) Including work in process.
  • 17. ATENTO GROUP CONSOLIDATED INCOME STATEMENT Unaudited figures (Euros in millions) 2004 Jan - Mar Apr - Jun Jul - Sep Oct- Dec Jan - Dec Revenues 134.4 145.9 151.9 174.3 606.5 Internal expenditure capitalized in fixed assets (1) 0.0 0.0 0.0 0.0 0.0 Operating expenses (115.3) (129.7) (126.8) (150.4) (522.3) Other net operating income (expense) 0.4 1.8 (1.4) 0.3 1.1 Gain (loss) on sale of fixed assets (0.4) 0.0 0.0 0.1 (0.3) Impairment of goodwill and other assets 0.0 0.0 0.0 0.0 0.0 Operating income before D&A (OIBDA) 19.2 18.0 23.6 24.3 85.1 Depreciation and amortization (9.3) (8.8) (8.0) (7.6) (33.7) Operating income (OI) 9.8 9.2 15.6 16.8 51.4 Profit from associated companies 0.0 0.0 0.0 0.0 0.0 Net financial income (expense) 3.3 (3.5) (6.0) (4.3) (10.5) Income before taxes 13.2 5.7 9.6 12.5 40.9 Income taxes (2.1) (0.1) (0.2) (4.5) (6.8) Income from continuing operations 11.1 5.6 9.4 8.0 34.1 Income (Loss) from discontinued operations (0.1) 0.0 0.0 0.0 (0.1) Minority interest (0.4) (0.3) (0.4) (0.6) (1.7) Net income 10.6 5.3 8.9 7.5 32.3
  • 18. CONTENT AND MEDIA BUSINESS CONSOLIDATED INCOME STATEMENT Unaudited figures (Euros in millions) 2004 Jan - Mar Apr - Jun Jul - Sep Oct- Dec Jan - Dec Revenues 273.8 297.2 261.0 387.2 1,219.1 Internal expenditure capitalized in fixed assets (1) 0.1 0.1 0.0 0.0 0.2 Operating expenses (230.4) (254.6) (220.2) (344.0) (1,049.1) Other net operating income (expense) (0.1) (15.3) 14.4 11.6 10.5 Gain (loss) on sale of fixed assets (0.1) 0.0 5.1 1.9 6.9 Impairment of goodwill and other assets 0.5 (0.4) (2.6) (0.1) (2.6) Operating income before D&A (OIBDA) 43.7 26.9 57.8 56.6 185.0 Depreciation and amortization (6.4) (6.7) (6.5) (9.3) (28.9) Operating income (OI) 37.3 20.2 51.3 47.3 156.2 Profit from associated companies (10.7) (7.2) (5.4) (10.8) (34.2) Net financial income (expense) (3.0) (7.8) (14.1) (96.7) (121.6) Income before taxes 23.6 5.3 31.7 (60.2) 0.4 Income taxes (29.4) (3.8) (23.1) 20.4 (35.9) Income from continuing operations (5.9) 1.5 8.7 (39.8) (35.6) Income (Loss) from discontinued operations 0.0 0.0 0.0 0.0 0.0 Minority interest 0.0 (2.1) (1.3) (1.6) (5.0) Net income (5.8) (0.6) 7.3 (41.5) (40.6) (1) Including work in process.
  • 19. TELEFÓNICA DEUTSCHLAND GROUP SELECTED FINANCIAL DATA Unaudited figures (Euros in millions) 2004 Jan - Mar Apr - Jun Jul - Sep Oct- Dec Jan - Dec Revenues 81.7 72.6 66.2 70.4 290.8 Operating income before D&A (OIBDA) 4.3 3.2 2.5 (161.6) (151.7) OIBDA margin 5.3% 4.3% 3.8% n.s. (52.2%)
  • 20. TERRA NETWORKS GROUP CONSOLIDATED INCOME STATEMENT Unaudited figures (Euros in millions) 2004 Jan - Mar Apr - Jun Jul - Sep Oct- Dec Jan - Dec Revenues 105.4 113.9 111.0 127.0 457.3 Internal expenditure capitalized in fixed assets (1) 0.2 0.3 0.1 0.1 0.7 Operating expenses (103.3) (126.6) (105.9) (119.4) (455.3) Other net operating income (expense) (1.7) 1.8 (2.3) (2.4) (4.6) Gain (loss) on sale of fixed assets 0.9 9.2 (0.6) (3.1) 6.4 Impairment of goodwill and other assets 0.0 0.0 0.0 0.0 0.0 Operating income before D&A (OIBDA) 1.5 (1.5) 2.3 2.2 4.5 Depreciation and amortization (24.4) (23.4) (16.3) (31.0) (95.1) Operating income (OI) (22.9) (24.9) (14.0) (28.7) (90.6) Profit from associated companies (4.9) (2.9) (4.8) (1.7) (14.2) Net financial income (expense) 7.1 8.7 3.6 1.9 21.4 Income before taxes (20.7) (19.0) (15.2) (28.5) (83.4) Income taxes 10.5 8.1 10.3 5.4 34.3 Income from continuing operations (10.2) (10.9) (4.9) (23.1) (49.1) Income (Loss) from discontinued operations (29.8) (12.0) (17.1) 307.3 248.5 Minority interest 2.0 0.3 0.4 0.2 2.9 Net income (37.9) (22.5) (21.6) 284.4 202.3 (1) Including work in process.