Deutsche Telekom was buoyed by Q1 2024 growth in home market Germany and its European segment, which hit an all-time profit high for the period.
An earnings statement showed adjusted EBITDA AL in Europe increased 8.1 per cent year-on-year to €1.1 billion, “higher in the first quarter of 2024 than in any other quarter in this period”.
The operator said the uptick was driven by strong service revenue in both fixed and mobile, with revenue also up, increasing by 6.3 per cent to just shy of €3 billion. It also pointed out this was the 25th consecutive quarter of growth in the segment.
In Germany, revenue was up 2.6 per cent to €6.3 billion, while EBITDA AL increased 3.5 per cent to €2.6 billion on the back of mobile contract customer growth and an uptick in users of its MagentaTV content service.
MagentaTV increased its customer base by 73,000 to hit 4.4 million.
Revenue from its US business dipped slightly, down 1.4 per cent to €18 billion, however EDBITDA AL increased 6.1 per cent to hit €7 billion.
At group level, revenue was flat at €27.9 billion, while net profit hit €2 billion. The latter figure was substantially lower than the €15.4 billion it reached in the same quarter in 2023, which was mainly attributable to the sale of a majority stake in its tower business. EBITDA AL increased 5.8 per cent to €10.5 billion.
CEO Timotheus Hoettges said Deutsche Telekom was “continuing to grow again this year” and he wanted to “shine a light on the success of our national companies in Europe”.
The post Deutsche Telekom boosted by record profit in Europe appeared first on Mobile World Live.
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