DT Reported Growth Across All Areas of the Business

Deutsche Telekom once again delivered strong financials in the second quarter of 2026. CEO Tim Hoettges stated that all areas of the business delivered impressive growth in the first half of 2026.

Net revenue totaled €29.9 billion. In organic terms, i.e., excluding exchange rate effects and changes in the composition of the Group, revenue increased by 3.3 percent against the prior-year quarter. Service revenues likewise increased by 3.3 percent in organic terms. Adjusted EBITDA AL increased in organic terms by 7.3 percent to €11.8 billion.

The reported growth rates were impacted by contrasting effects from changes in exchange rates and in the composition of the Group, which, when netted, resulted in a 4.4 percent increase in net revenue. Reported service revenue was up by 4.8 percent and reported adjusted EBITDA AL by 7.5 percent.

“Our operations continue to perform well,” said Tim Höttges, CEO of Deutsche Telekom. “All areas of the Group are once again delivering impressive growth in the first half of 2026.”

The Group’s free cash flow AL increased by 3.1 percent year-on-year to €5 billion in the second quarter. Adjusted net profit increased by 11.1 percent to €2.8 billion. Reported net profit decreased by 6.3 percent to €2.5 billion, mainly due to integration costs at T-Mobile US in the second quarter of 2026 in connection with UScellular. In addition, the prior year had included positive effects of write-ups of the carrying amounts of investments, for which there was no corresponding effect in the reporting year.

The Group raised its full-year guidance for free cash flow AL from more than €19.8 billion to around €20 billion, thereby reflecting the adjustment announced by T-Mobile US. All expectations for business excluding the United States, as well as the Group guidance for adjusted EBITDA AL of around €47.5 billion and for adjusted earnings per share of around €2.20, remain unchanged.