Telefónica: CapEx in Europe 2022

The capital expenditure (CapEx) of telecommunications company Telefónica has been decreasing in Spain since 2015, falling to 1.4 billion euros in 2020. The company's CapEx increased to 1.8 billion euros in 2021, before decreasing again to 1.5 billion euros in 2022. In Germany, the CapEx of Telefónica reached nearly 2.5 billion dollars of investment in 2019 but has decreased since.

Telefónica capital expenditure (CapEx) in Europe from 2015 to 2022, by country (in million euros)

Characteristic	Spain	United Kingdom	Germany
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Release date

February 2023

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Region

Germany, Spain, United Kingdom

Survey time period

2015 to 2022

Supplementary notes

Following an agreement in May 2020 between Telefónica and Liberty Global plc in May 2020, the operating businesses in the United Kingdom of these two companies (O2 Holdings Ltd. and Virgin Media UK, respectively) were combined into a 50-50 joint venture called VMED O2 UK Limited ("VMO2") in June 2021. Consequently,Telefonica United Kingdom is excluded from the scope of consolidation from June 1, 2021 (Consolidated Annual Report 2022, page 11).

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