DT Continues Growth in 3Q24, Raises Guidance for FY2024

Deutsche Telekom reported strong results in the third quarter of 2024. Total revenue in the period grew by 3.4% to €28.5 billion.

Service revenues grew by 3.7% to €24.1 billion as adjusted EBITDA AL increased by 5.8% to €11.1 billion. Reported net profit came in at €2.96 billion, up by more than 50% against the prior-year comparative. Adjusted earnings per share reached €1.43 after nine months, up by 16%, on track to reach the full-year target of over €1.75.

Revenue in the German operating segment grew by 2.5% to €6.5 billion. In the US, service revenues increased by 5.2% to 16.7 billion. Revenue and earnings continued to grow in the national companies in Europe by 4.2% to €3.1 billion. The key service revenues increased by 4.7%.

“The growth momentum continues unabated on both sides of the Atlantic,” said Christian Illek, CFO of Deutsche Telekom. “At the same time, we have successfully brought our leverage ratio back down to below our target value.”

“In view of the positive development of business both at T-Mobile US and in business outside of the United States, the group has raised its full-year guidance,” the company noted. It expects to report adjusted EBITDA after leases of around €43 billion for 2024, up €0.1 billion from its previous forecast.