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DEUTSCHE TELEKOM AG

(DTE)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 01/27 03:00:29 am
16.049 EUR   -0.98%
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Deutsche Telekom core profit beats estimates; full-year outlook raised

11/12/2021 | 07:32am EST
Logo of German telecommunications giant Deutsche Telekom AG and GSM antennas are seen atop of the headquarters of Deutsche Telekom in Bonn

STOCKHOLM (Reuters) - Deutsche Telekom reported core profit above market estimates on Friday and raised its full-year outlook for the third time, boosted by its U.S. unit T-Mobile, along with growth in European business.

Adjusted earnings before interest, tax, depreciation and amortisation after leases (EBITDA AL) stood at 9.66 billion euros ($11.05 billion), beating consensus estimates of 9.35 billion euros in a poll of analysts published by the company.

The company raised its full-year adjusted EBITDA AL to around 38 billion euros, up from the previous outlook of at least 37.2 billion euros.

"Our businesses are performing even better than expected," Chief Executive Officer Tim Höttges said in a statement. "Following strong figures in the first nine months, we are setting the bar for 2021 a little higher.

T-Mobile, which accounts for three-fifths of group sales, has been gaining subscribers following its merger with Sprint and as it rolls out its 5G service.

In the latest quarter T-Mobile added 1.3 million customers who pay their bills monthly, lifting its subscriber base to 106.9 million customers. Deutsche Telekom has 52.2 million customers in Germany and 46.4 million in rest of Europe.

Deutsche Telekom now owns 48.4% of T-Mobile US, within touching distance of majority ownership over the U.S. operations.

The telecoms operator's third-quarter revenue increased by 2% to 26.88 billion euros, but fell short of consensus estimates of 27.15 billion euros.

On the back of growth across the board, the company increased its dividend to 64 euro cents from 60 euro cents last year. German government owns a 30.5% stake in the company.

Apart from an increase in subscribers, growth in the number of tourists across Europe following relaxation of the pandemic-related restrictions had led to a recovery in roaming revenue.

($1 = 0.8741 euros)

(Reporting by Supantha Mukherjee, European Technology & Telecoms Correspondent, based in Stockholm; Editing by Sherry Jacob-Phillips and Shailesh Kuber)

By Supantha Mukherjee


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE TELEKOM AG 1.55% 16.208 Delayed Quote.-0.56%
T-MOBILE US -1.37% 104.22 Delayed Quote.-10.14%
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Analyst Recommendations on DEUTSCHE TELEKOM AG
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Financials
Sales 2021 108 B 121 B 121 B
Net income 2021 4 880 M 5 476 M 5 476 M
Net Debt 2021 130 B 146 B 146 B
P/E ratio 2021 15,8x
Yield 2021 3,89%
Capitalization 76 882 M 86 745 M 86 264 M
EV / Sales 2021 1,91x
EV / Sales 2022 1,88x
Nbr of Employees 216 265
Free-Float -
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Deutsche Telekom AG Technical Analysis Chart | DTE | DE0005557508 | MarketScreener
Technical analysis trends DEUTSCHE TELEKOM AG
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 24
Last Close Price 16,21 €
Average target price 22,37 €
Spread / Average Target 38,0%
EPS Revisions
Managers and Directors
Timotheus Höttges Chairman-Management Board & CEO
Christian P. Illek Chief Financial Officer
Ulrich Lehner Chairman-Supervisory Board
Claudia Nemat Chief Technology & Innovation Officer
Lothar Schröder Vice Chairman-Supervisory Board