Deutsche Telekom Raises 2022 Outlook

Deutsche Telekom continued growth at the start of 2022, with net income and revenue boosted by its T-Mobile US unit. Good results in the US, combined with gains across Europe, caused DT to raise its full-year outlook.

DT CFO Christian Illek highlighted a solid first quarter, with revenue up 6.2% year-on-year to €28 billion and net income four times higher at €3.9 billion. He attributed the profit rise mainly to the sale of a 50% stake in FTTH company Glasfaser Plus and the completion of a sale in the Netherlands.

In Germany, DT's revenue was flat at €6 billion with mobile service revenue up 2.5%. It added 193,000 contract customers and 5G coverage hit 92% of the country. Its success in the US also continued, with a rise of 6.1 million customers to 109.5 million, adding 1.3 million mobile post-paid. Revenue increased 1.9% to reach $20.3 billion.

In its Europe segment, mobile service revenue was up 2.2%, with revenue flat at €2.7 billion. It added 150,000 post-paid mobile customers and reported that 59% of broadband households used fixed-mobile convergence products.