Deutsche Telekom raises annual profit growth outlook to 2024 to 3% -5%

File Photo: The pamphlet with the Deutsche Telekom AG logo was taken on February 19, 2019 at a shop at the headquarters of a German telecommunications giant in Bonn, Germany. REUTERS / Wolfgang Rattay

May 20, 2021

Berlin (Reuters)-Deutsche Telekom raised its medium-term core earnings outlook to 3% -5% annual growth through 2024 on Thursday, maintaining annual earnings forecasts up 1% -2%.

The Bonn-based telecommunications group operates in Europe and the United States and, prior to its two-day strategy, adjusted earnings per share of 1.75 by 2024, compared to € 1.20 in 2020. It is expected to rise above the euro ($ 2.13). presentation.

Management said 40-adjusted earnings per share, subject to a € 0.60 lower limit introduced in November 2019 after the U.S. unit T-Mobile agreed to acquire a smaller rival, Sprint. We propose a 60% split.

CEO Tim Hettges said, “We will step up our efforts” after raising profit growth targets from the 2-4% range set in Deutsche Telekom’s final strategic update in 2018. Said.

“We want to outperform the strong developments of the last few years and lead the group into the future with sustainable growth.”

At mid-term, Reuters estimates that German Telecom’s forecast of interest, taxes, depreciation and adjusted earnings before amortization (EBITDA) will be € 41 billion in 2024. Analyst //

The company forecasts post-lease free cash flow of over € 18 billion in 2024, compared to a consensus view of € 16.8 billion.

Deutsche Telekom has set priorities and said it will increase the number of households in the European market to more than 10 million over the next three years using fixed and mobile “converged” product packages.

It will also increase the coverage of Germany’s pure fiber optic networks from the current 5% to 60% by 2030, and 5G mobile networks will cover 97% of the population by 2030.

($ 1 = 0.8210 euros)

(Report by Douglas Busvine, edited by Riham Alkousaa and Rashmi Aich)

Deutsche Telekom raises annual profit growth outlook to 2024 to 3% -5%

Source link Deutsche Telekom raises annual profit growth outlook to 2024 to 3% -5%

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