May 7, 2020 / 6:02 AM / a month ago

BRIEF-Telefonica Says 2020 Guidance Is Withdrawn, Confirms Dividend

May 7 (Reuters) - Telefonica SA:

* DUE TO SIGNIFICANT CHANGES IN GUIDANCE SCENARIO AND CONTEXT AND UNCERTAINTY, 2020 FINANCIAL GUIDANCE IS WITHDRAWN

* CONFIRMS THE ANNOUNCED €0.40 DIVIDEND FOR 2020

* FIRST TRANCHE OF 2020 DIVIDEND (€0.2 TO BE PAID IN DECEMBER 2020) WILL BE DONE THROUGH VOLUNTARY SCRIP DIVIDEND, SECOND TRANCHE (€0.2) WILL BE PAID IN JUNE 2021

* OUTLOOK FOR 2020 OIBDA-CAPEX IS TO BE SLIGHTLY NEGATIVE TO FLAT YEAR-ON-YEAR IN ORGANIC TERMS

* MID-TERM, 2022 GUIDANCE OF REVENUE GROWTH AND 2 PERCENTAGE POINTS IMPROVEMENT IN (OIBDA-CAPEX)/REVENUES IS REITERATED

* ON CORONAVIRUS: SAYS IS NOT IMMUNE TO THE CRISIS, BUT IS RESILIENT

* ON CORONAVIRUS: SAYS CRISIS HAS HAD LIMITED IMPACT ON CO’S Q1 RESULTS

* ON CORONAVIRUS: SAYS LOWER REVENUES FROM ROAMING, PREPAID AND BUSINESS CUSTOMERS WERE PARTIALLY COMPENSATED BY LOWER COMMERCIAL COSTS AND LOWER CUSTOMER CHURN

* ON CORONAVIRUS: IT IS TOO SOON TO ASSESS EXTENT OF EFFECTS OF PANDEMIC, BUT CO HAS SEVERAL LEVERS TO MITIGATE POTENTIAL NEGATIVE IMPACTS

* ON CORONAVIRUS: TO CONTINUE MANAGING INVESTMENTS AND COSTS, FOCUSING ON OPERATING CASH FLOW STABILITY Source text for Eikon: bit.ly/3bdqQxf Further company coverage: (Gdansk Newsroom)

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