Deutsche Telekom raised its guidance for the third time in 2023 as it reported a year-on-year net income increase of more than 20 per cent in Q3, largely due to a reduction in integration costs incurred from its US unit’s tie-up with Sprint.
For the full year, the company predicts adjusted EBITDA-AL of around €41.1 billion and free cash flow of more than €16.1 billion, an increase of €100 million in both cases from its forecast in mid-2023.
Last week, it also announced plans to invest €2 billion in a share buyback scheme and raise its annual dividend to €0.77 per share, from €0.70 in 2022.
Net income rose 21.9 per cent to €1.9 billion in Q3, reflecting “positive development of earnings from operations” and the T-Mobile US, Sprint factor, Deutsche Telekom stated.
Revenue fell 5 per cent to €27.6 billion, mainly because of currency headwinds.
In Germany, it booked a 2.7 per cent revenue increase to €6.3 billion and Europe was up 5.2 per cent to €3 billion.
IT services division T-Systems’ revenue rose 3.6 per cent to €960 million.
US revenue fell 8.7 per cent to €17.6 billion (1.2 per cent in local currency to $19.2 billion), although T-Mobile US did beat rivals in net post-paid phone additions, which amounted to 850,000.
Deutsche Telekom CEO Timotheus Hoettges said it continues to grow “unabated on both sides of the Atlantic”, despite uncertain times.
The post Deutsche Telekom ups 2023 forecast appeared first on Mobile World Live.
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