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Deutsche Telekom on track

Deutsche Telekom reports double-digit growth for the second quarter of 2015. Net revenue rose by 15.3 per cent compared with the prior-year period to €17.4 billion. Adjusted EBITDA rose by 13.5 per cent to €5 billion. Organic growth was also strong, with revenue up 5.7 per cent in the second quarter and adjusted EBITDA up 6.7 per cent.

“We have emphatically confirmed the strong figures from the first quarter,” said Tim Höttges, CEO of Deutsche Telekom. “The transformation of the Group is continuing at full speed in all areas. We are heading in the right direction.”

The Group is continuing to invest in its future. Investments in terms of cash capex before mobile spectrum expenses increased by 17.2 per cent year-on-year to €2.6 billion in the second quarter of 2015. At the same time, free cash flow improved by 31.1 per cent to €1.4 billion.

Adjusted net profit was up almost 70 per cent to €1.1 billion, due to higher adjusted EBITDA. Reported net profit, i.e., before adjustment for special factors, stood on a par with the prior-year level at €0.7 billion. However, negative special factors in the second quarter were some €0.4 billion higher than in the prior year, due in part to higher expenses for staff-related measures.

Deutsche Telekom confirms its guidance for 2015. Based on a constant exchange rate compared with 2014 of $1.33 per euro, adjusted EBITDA is expected to reach around €18.3 billion and free cash flow around €4.3 billion.

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