Deutsche Telekom continues to demonstrate robust financial performance, posting significant gains for the second quarter of 2024. Service revenues rose by 4.9% year-on-year to €24.1 billion, while adjusted EBITDA AL increased by 7.8% to €10.8 billion. On an organic basis, service revenue growth stood at 4.0%, and adjusted EBITDA AL grew by 6.6%. Free cash flow AL surged by 48.5% to €5.2 billion. CEO Tim Höttges praised the company’s consistent execution of its strategy, reflected in a net profit of €2.1 billion, up 35.6% from the previous year, and an adjusted net profit increase of 31.3% to €2.5 billion. Adjusted earnings per share for the first half of 2024 reached €0.95.
Key achievements across group businesses include:
- Germany: Fiber-optic customers grew by 113,000, bringing the total to over 1.2 million. TV net adds were 114,000, boosted by the UEFA European Championship and regulatory changes. Mobile service revenues increased by 3.7%, with the branded contract customer base growing by 311,000. Revenue reached €6.4 billion, up 3.6%, with adjusted EBITDA AL slightly increasing by 1.0% to €2.6 billion.
- United States: T-Mobile US surpassed 100 million postpaid customers, adding 1.3 million postpaid net customers in Q2. Service revenues grew by 4.4% to $16.4 billion, and adjusted EBITDA AL rose by 9.1% to $7.8 billion.
- Europe: Adjusted EBITDA AL increased by 8.9% to €1.1 billion, with revenue growing by 6.8% to €3.1 billion. The segment added 183,000 mobile contract customers, 53,000 broadband customers, and 23,000 TV customers.
- Systems Solutions: T-Systems saw order entry rise by 28.3% to €957 million. Revenue increased by 2.1% to €981 million, driven by cloud services and digitalization solutions. Adjusted EBITDA AL grew by 1.4% to €87 million.
Deutsche Telekom has raised its full-year guidance for free cash flow AL to around €19.0 billion, while maintaining its adjusted EBITDA AL guidance at around €42.9 billion and recurring adjusted earnings per share at more than €1.75.
