José María Álvarez Pallete durante el Capital Markets Day 2023

2023

Capital Markets Day 2023

We are on the eve of our 100th anniversary and are preparing to celebrate our centenary in style. We have already announced our commitment to shut down all copper plants by 2024, and in November we shared our new strategic plan: GPS (Growth, Profitability and Sustainability).

The company looks ahead to its centenary

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During 2023 Telefónica goes into centenary mode, we are already preparing for this great milestone that will occur on 19 April 2024. The fact is that turning 100 is well worth reflecting on and making preparations for this great event. The celebration of its first century is permeating every corner of Telefónica. A Telefónica, focused in 2023 on making decisions that contribute to building a more sustainable and fairer industry for all. Projects such as Open Gateway - the transformation of networks into supercomputers - and Fair Share - the commitment to a fair distribution of rights and obligations in the digital world - are gaining momentum and transcending the company to permeate the entire sector at a European level. Also in the last quarter of that year another important event took place, the entry of STC Group, a Saudi Arabian telecommunications company, into Telefónica, with the purchase of 5% of its capital, which could rise to 9.9%, and the announcement by the State Industrial Ownership Corporation (SEPI) to acquire up to 10%. In addition, we announce in April a commitment: to switch off all copper plants in Spain by our centenary, April 2024, so that Telefónica's network will become 100% fibre optic. And on 8 November, at the Capital Markets Day, a meeting with investors and shareholders, Telefónica presents the new three-year strategic plan, with the main lines that will mark Telefónica's future on the eve of its long-awaited centenary. Growth, Profitability and Sustainability (GPS) are the cornerstones of the new plan to lead in the digital age and it is based on five key vectors to accelerate our delivery: 1. The sustainability of B2C revenue growth 2. Sustaining the momentum of B2B business 3. The evolution of revenues derived from agreements with the company's partners 4. Achieving efficiencies that help to reduce the cost structure 5. Reducing investment, but maintaining Telefónica's differential profile in the sector

A network for the next 100 years

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In April 2024, just as Telefónica turns a century old, there will not be a single stretch of copper left in its entire network in Spain. The transformation to a 100% fibre optic network, capable of containing and transporting all that the digital world will bring, is unstoppable and nearing completion. We announce this to the regulator and to society in April 2023. Before that, several years of work to shut down exchanges throughout Spain, deploying fibre, migrating services and ensuring, above all, that the customer did not suffer any disruption during the process. By April 2014, a grid conversion that will include the closure of a total of 8,532 plants will have been achieved. As chairman José María Álvarez-Pallete says, "the new digital world goes through our networks". And these networks must have the best performance.

LaCabina is born, a rabid innovation with a wink in the name

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While the booths are being dismantled in all the towns and cities of Spain, Telefónica rescues that name that says so much about us and that contains so much history to baptise its new, brand new demonstration centre for companies. At the heart of the Telefónica District is this centre of technological inspiration to promote the digital transformation of companies of any size and also of the Public Administration. More than 2,200 square metres and 200 solutions and products on display ready for visitors. And they are received by the thousands! LaCabina is the corner for technology demonstrations, a key part of the Innovation and Talent Hub of Telefónica.

The world's tallest ambassador

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Telefónica has a new ambassador and he is very tall. Pau Gasol, the best player in the history of Spanish basketball, will carry Telefónica's brands around the world until at least 2026. His conciliatory and open-minded approach and his commitment to young people, in addition, of course, to his impressive track record, have made Pau a ‘Telefónico’ from the day of the announcement. The Spanish basketball legend and Telefónica share values and vision, and have been collaborating since the beginning of 2023 in areas such as the promotion of healthy lifestyle habits and support for Movistar Plus + sports commentators.

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