Telefónica talks up debt management following mixed Q1

Spanish telco group Telefónica has confirmed its 2023 guidance after reporting solid first quarter revenue growth.
For the full year, the company expects low single digit growth in both revenue and operating income before depreciation and amortisation (OIBDA). It expects to achieve a capex to sales ratio of 14%. Telefónica also confirmed its 2023 dividend.
“We have made a strong start to the year despite ongoing challenges,” said Telefónica CEO José Mar&ia