Adjusted EBITDA increased 0.7 percent compared with 2007 to EUR 19.5 billion, thus exceeding the original guidance of around EUR 19.3 billion. Adjusted net profit rose by 14.0 percent to EUR 3.4 billion. Reported net profit more than doubled to EUR 1.5 billion. Free cash flow of the Group increased 6.9 percent to EUR 7.0 billion, clearly exceeding both the prior-year figure of EUR 6.6 billion and the forecast at the beginning of 2008 of around EUR 6.6 billion. The positive earnings trend was also attributable to the continued “Save for Service” program, which so far generated gross cost reductions of EUR 4.1 billion. The Company’s earnings power further improved, despite higher marketing investments and a slight decrease of 1.4 percent in reported net revenue to EUR 61.7 billion. On an organic basis, i.e. adjusted for changes in the composition of the Group and exchange rate effects, revenue was stable at EUR 62.0 billion...

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Telefonica tambien ha presentado buenos resultados. Los sectores basicos, de elctricidad, telefono alimentacion y servicios basicos serán los uncios que funcionen en los prox años.

Por no hablar de las ayuditas del gobierno de turno a sus antiguos monopolios...

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