FRANKFURT (Reuters) - Telefonica Deutschland
Germany's No.2 mobile operator by revenues also reported a 21.5% rise in operating income before depreciation and amortization (OIBDA) - a proxy for cash flow - although this was lifted by changes in lease accounting rules.
Stripped of that factor, OIBDA rose by 0.7% in the first six months of the year, the company said in a statement.
Telefonica Deutschland, which operates under the O2 brand, reiterated its guidance for stable revenues and flat-to-slightly-better profitability as it prepares to launch 5G mobile services.
CEO Markus Haas said Telefonica was well placed to compete, having also gained access to rival Vodafone's
(Reporting by Douglas Busvine, editing by Riham Alkousaa)