May 12, 2021, 1:54 a.m. EDT

Telefonica Deutschland net loss narrows

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By Mauro Orru

Telefonica Deutschland Holding AG said Wednesday that its net loss for the first quarter narrowed and the company confirmed its guidance for the year.

The German telecommunications company reported a net loss of 40 million euros ($48.6 million) compared with a net loss of EUR44 million in the first quarter of 2020.

Revenue for the period rose 0.2% to EUR1.85 billion.

Adjusted operating income before depreciation and amortization, or Oibda, rose to EUR562 million from EUR532 million with an adjusted margin of 30.4%.

"We have made a good start to the current fiscal year despite the continuing major challenges posed by the Covid-19 pandemic. We continued to grow profitably in the first quarter, again demonstrating our operational and financial strength. The investments in our network and service are paying off," Chief Executive Markus Haas said.

For 2021, Telefonica Deutschland said it continues to expect revenue from flat to slightly positive, with adjusted Oibda broadly stable to slightly positive, and a capex to sales ratio between 17% and 18%.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

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