DT Stays on Track for Growth in 1Q24

Deutsche Telekom’s growth trajectory continues after the operator group got off to a successful start in 2024. Net revenue in the first quarter of 2023 increased by 1.6 percent to €27.9 billion.

Service revenues grew by as much as 4.1 percent in organic terms to €23.5 billion. Adjusted EBITDA AL reached €10.5 billion, which corresponds to growth of 5.8 percent in organic terms. At €3.7 billion, free cash flow AL was up 3.6 percent on the same period in the prior year.

“Deutsche Telekom is continuing to grow again this year,” said Tim Höttges, CEO of the Group. “I would like to shine a light on the success of our national companies in Europe.”

Adjusted net profit increased 14.2 percent year-on-year to €2.2 billion. This corresponds to adjusted earnings per share of €0.45, 15.4 percent more than in the first quarter of 2023. Reported net profit of €2 billion is substantially below the prior-year figure of €15.4 billion. The high figure in the prior year was primarily attributable to a special factor resulting from the sale of the majority stake in GD Towers.

While T-Mobile US raised its guidance slightly, Deutsche Telekom confirmed its guidance outside the United States. Adjusted EBITDA AL for the Group is still expected to reach around €42.9 billion, around 6 percent more than in the prior year. Free cash flow AL is anticipated to reach €18.9 billion, 16 percent higher than in the prior year. Adjusted earnings per share is expected to be more than €1.75, up from €1.60 in 2023.