DT Reports Growth in All Key Metrics
Deutsche Telekom shrugged-off negative impacts of the pandemic on its business in the first quarter of 2021. In its earnings statement the operator group noted growth in all key metrics, despite a fall in roaming and visitor revenue at its Europe segment, which covers everything except its operations in Germany and the US.
The operator highlighted a boost in its German fixed business, US gains and growth in its Europe division. Fixed sales and post-paid mobile users were up in Germany, helping to offset a pandemic-related drop in roaming revenue.
Group revenue increased 32 percent year-on-year to €26.4 billion. The increase was a result of the inclusion of US acquisition Sprint in its results having completed the deal in April 2020. Organic growth was around 7 percent, while net profit increased 2.2 percent to €936 million.
CFO Christian Illek noted DT made solid progress on its 5G build in its home market, with coverage reaching 80 percent of the country at the end of Q1. It expects to expand this to 90 percent by the end of the year. Illek added the business had achieved excellent customer numbers and financial figures on both sides of the Atlantic, pointing to positive figures released by its US subsidiary last week.