Deutsche Telekom forecasts strong 2024 as customer base grows
Reuters
Published Feb 23, 2024 06:03
Updated Feb 23, 2024 07:16
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.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.