Deutsche Telekom 1Q Revenue Increased, Raises 2021 Guidance
May 12 2021 - 1:32AM
Dow Jones News
By Mauro Orru
Deutsche Telekom AG said Wednesday that revenue and adjusted
earnings climbed for the first quarter, supported by the merger of
T-Mobile US Inc. and Sprint.
The German telecommunications company said quarterly revenue
climbed to 26.39 billion euros ($32.07 billion) from EUR19.94
billion in the first quarter of 2020.
Adjusted earnings before interest, taxes, depreciation and
amortization after leases --a metric that measures operating
earnings performance accounting for the adoption of IFRS 16-- rose
to EUR9.25 billion from EUR6.54 billion.
Quarterly net profit increased to EUR936 million from EUR916
million.
"We are sustaining momentum and continuing our successful growth
story," Chief Financial Officer Christian Illek said.
"Our customer numbers and key financial metrics are on track on
both sides of the Atlantic," he added.
Deutsche Telekom raised guidance for the year, including its
T-Mobile business in the U.S. It now expects adjusted Ebitda after
leases to exceed EUR37 billion, up from previous guidance of around
EUR37 billion. Free cash flow after leases should exceed EUR8
billion, up from around EUR8 billion as previously expected.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
May 12, 2021 01:17 ET (05:17 GMT)
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