Deutsche Telekom's quarterly net profit up 2%
Deutsche Telekom's quarterly...
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Deutsche Telekom's quarterly net profit up 2%

12 May 2021
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Deutsche Telekom's quarterly net profit up 2%

Deutsche Telekom AG net profit

Deutsche Telekom AG (DE:DTEGn), Europe's largest telecommunications company, posted net profit of €936 million in January-March 2021, compared to €916 million in the same period in 2020 (up 2.2%), the company said in a press release.

Adjusted net profit fell 6.5% to €1.2bn, while adjusted earnings before interest, tax and amortisation (EBITDA) jumped 41.5% to €10.7bn.

Adjusted EBITDA (EBITDA AL) increased by 41.3 percent to 9.25 billion euros.

The company's quarterly revenue rose 32.3% to €26.39 billion from €19.94 billion.

In Germany, Deutsche Telekom's revenues rose 1.9% to €5.92 billion, while elsewhere in Europe they fell 1.1% to €2.73 billion. In the US, the figure rose 62.3% to €16.48bn.

The merger between Deutsche Telekom-owned US telco T-Mobile US and Sprint was completed in April last year.

Deutsche Telekom's updated forecast puts its adjusted EBITDA AL outside the US at around €14.4bn this year, rather than the €14.3bn previously forecast. The company expects AL's overall EBITDA to exceed €37 billion, although it had previously forecast a figure around that figure.

Deutsche Telekom shares are up 1.5% in trading in Frankfurt on Wednesday. Since the beginning of this year, the company's capitalisation has risen by 11% to around €79bn.

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