Deutsche Telekom AG 3Q 2016 -- Forecast

FRANKFURT--The following is a summary of analysts' forecasts for Deutsche Telekom AG (DTE.XE) third-quarter results, based on a poll of six analysts conducted by Dow Jones Newswires (figures in million euros, EPS, dividend and target price in euro, according to IFRS). Earnings figures are scheduled to be released November 10.

=== 
                           EBITDA      Free 
3rd Quarter     Revenue  adjusted  Cashflow 
AVERAGE          18,057     5,493     1,452 
Prev. Year       17,099     5,165     1,308 
+/- in %           +5.6      +6.3       +11 
 
MEDIAN           18,073     5,524     1,400 
Maximum          18,157     5,702     1,588 
Minimum          17,961     5,167     1,328 
Amount                6         6         5 
 
Bankhaus Lampe   18,093     5,534        -- 
Barclays         18,157     5,498     1,400 
Deutsche Bank    17,961     5,542     1,546 
DZ Bank          17,985     5,514     1,328 
Equinet          18,052     5,167     1,400 
Jefferies        18,093     5,702     1,588 
 
            Germany:        USA:            Europe: 
                    EBITDA          EBITDA          EBITDA 
3rd Quarter Revenue   adj.  Revenue   adj.  Revenue   adj. 
AVERAGE       5,482  2,252    8,347  2,213    3,146  1,083 
Prev. Year    5,593  2,269    7,059  1,702    3,261  1,157 
+/- in %       -2.0   -0.8      +18    +30     -3.5   -6.4 
 
MEDIAN        5,468  2,251    8,315  2,184    3,137  1,080 
Maximum       5,611  2,260    8,437  2,326    3,209  1,101 
Minimum       5,373  2,245    8,290  2,159    3,100  1,070 
Amount            5      4        5      4        4      4 
 
Barclays      5,546  2,251    8,437  2,159    3,100  1,070 
Deutsche Bank 5,373  2,250    8,315  2,168    3,173  1,079 
DZ Bank       5,410  2,245    8,400  2,200    3,100  1,080 
Equinet       5,611     --    8,290     --       --     -- 
Jefferies     5,468  2,260    8,295  2,326    3,209  1,101 
 
               System Sol.:        GHS (a): 
                          EBITDA              EBITDA 
3rd Quarter    Revenue  adjusted   Revenue  adjusted 
AVERAGE          1,981       167       512      -130 
Prev. Year       2,031       176       555      -133 
+/- in %          -2.4      -5.0      -7.7        -- 
 
MEDIAN           1,983       167       520      -129 
Maximum          2,009       181       534      -110 
Minimum          1,950       154       475      -153 
Amount               4         4         4         4 
 
Barclays         2,009       181       534      -153 
Deutsche Bank    1,950       163       517      -118 
DZ Bank          2,000       154       475      -110 
Jefferies        1,966       171       522      -140 
 
         Target price  Rating               DPS 2016 
AVERAGE         16.61  positive 4  AVERAGE      0.59 
Prev. Quarter   16.86  neutral  2  Prev. Year   0.55 
+/- in %         -1.5  negative 1  +/- in %     +7.9 
 
MEDIAN          16.50              MEDIAN         -- 
Maximum         20.00              Maximum      0.61 
Minimum         12.10              Minimum      0.58 
Amount              7              Amount          3 
 
Bankhaus Lampe  15.00  Hold                     0.58 
Barclays        20.00  Overweight                 -- 
Deutsche Bank   19.00  Buy                      0.59 
DZ Bank         16.50  Buy                        -- 
Equinet         15.50  Neutral                    -- 
Jefferies       12.10  Underperform               -- 
UBS             18.20  Buy                      0.61 
===

Year-earlier figures are as reported by the company.

(a) Group Headquarters and Shared Services.