BERLIN (Reuters) -Deutsche Telekom expects considerably stronger earnings growth in 2024, the German telecoms provider said on Friday, after boosts to its customer base in Germany and the United States helped the company meet its 2023 targets.
"Thanks to our growing businesses on both sides of the Atlantic, we are confident we will up the ante yet again in 2024," CEO Tim Hoettges said in a statement.
The company, which owns T-Mobile US (NASDAQ:TMUS), expects its adjusted earnings before interest, taxes, depreciation and amortization after leases (EBITDA AL) to increase this year by around 6% to around 42.9 billion euros, it said.
Free cash flow AL is expected to increase by around 16% in 2024 to around 18.9 billion euros, it said.
In 2023, the company's adjusted EBITDA AL inched up by 0.7%.
In its domestic market in 2023, Deutsche Telekom (ETR:DTEGn) said it recorded positive trends in all areas, with 1.2 million new contract customers gained in its key mobile business in Germany.
T-Mobile US recorded the largest customer base growth in the industry last year, the company said, reporting 3.1 million postpaid phone customer additions.