Telefónica forecast positive revenue growth in 2014, after managing to increase revenues by 0.7% on an organic basis to 57.06 billion euros in 2013. In the fourth quarter, revenues rose 1.8% on an organic basis thanks to double digit growth in the Latin American market.
Telefónica also said its capex to sales ratio will rise to between 15.5% and 16% in 2014 from 14.5% last year. It plans to increase spending on its fibre networks by 65% in 2014 and its LTE budget is up 27% on 2013.
"Telefónica will reinforce the differentiation of its products and services through a non-replicable infrastructure," said César Alierta, Executive Chairman. "In 2014 Telefónica will double the fibre coverage in Spain to 7.1 million homes passed, reaching the highest coverage levels among the largest economies in Europe. In Brazil we will also increase fibre coverage to 2.5 million homes. In the mobile business, we will expand 4G usage in Europe reaching an average coverage of more than 50%, while we continue leading the mobile data market in Latin America with the progressive launch of 4G. source: Telefónica presentation.