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DEUTSCHE TELEKOM AG

(DTE)
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Deutsche Telekom : second-quarter results buoyed by Sprint consolidation

08/12/2020 | 11:47pm EDT
FILE PHOTO:  Hoettges, CEO of German telecommunications giant Deutsche Telekom AG at results news conference in Bonn

Deutsche Telekom reported jumps in quarterly revenue and profit on Thursday following U.S. unit T-Mobile's $23 billion takeover of Sprint, while its underlying performance beat market expectations.

The telecoms group issued fresh guidance for core profits to hit 34 billion euros ($40 billion) this year, above market expectations, but cautioned that the cost of integrating Sprint would dent group cash flow.

The Sprint deal, which closed on April 1, has tilted Deutsche Telekom's centre of gravity towards the United States where T-Mobile now generates over three fifths of group revenue and has challenged AT&T as the No.2 carrier.

"The merger in the United States is a historic step for the group," said CEO Tim Hoettges, calling the figures "formidable" while highlighting strong performance on Deutsche Telekom's German home market and in Europe.

Group revenue grew by 37.5% to 27 billion euros in the quarter, but after stripping out the impact of the U.S. merger and exchange-rate effects there was a 0.6% decline. Analysts had forecast 25.6 billion, according to a company poll.

Core profit, measured as earnings before interest, taxation, depreciation and amortization after leases (EBITDA AL), rose by a reported 56.4% to 9.8 billion euros. On an organic basis it rose 8.4%, also beating expectations.

Deutsche Telekom issued new guidance for EBITDA AL to reach around 34 billion euros this year, up from previous guidance for 25.5 billion and around a billion euros above consensus.

It lowered its forecast for free cash flow after leases to at least 5.5 billion euros - below the average forecast from analysts and down from a previous 8 billion euros - to factor in the integration costs of the U.S. merger. ($1 = 0.8472 euros)

(Reporting by Douglas Busvine; Editing by Maria Sheahan)


ę Reuters 2020
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Financials
Sales 2021 105 B 124 B 124 B
Net income 2021 4 451 M 5 285 M 5 285 M
Net Debt 2021 128 B 152 B 152 B
P/E ratio 2021 20,2x
Yield 2021 3,44%
Capitalization 83 466 M 98 952 M 99 109 M
EV / Sales 2021 2,02x
EV / Sales 2022 1,95x
Nbr of Employees 224 385
Free-Float 85,1%
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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 25
Average target price 21,45 €
Last Close Price 17,76 €
Spread / Highest target 40,8%
Spread / Average Target 20,8%
Spread / Lowest Target -4,27%
EPS Revisions
Managers and Directors
NameTitle
Timotheus H÷ttges Chief Executive Officer
Christian P. Illek Chief Financial Officer
Ulrich Lehner Chairman-Supervisory Board
Claudia Nemat Head-Technology & Innovation
Thomas Kremer Head-Data Protection, Legal & Compliance
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