After reporting first-quarter revenue and profit in line, Deutsche Telekom (DTEGn.DE) upped its full-year operating profit estimate on Thursday.
On a more bullish forecast from US subsidiary T-Mobile (TMUS.O), the firm now anticipates adjusted operating profit (EBITDA AL) to reach 40.9 billion euros ($45.02 billion) in 2023.
Customer growth boosted first-quarter sales by 0.3% to 27.8 billion euros and operating profit by 0.9% to 10 billion euros. As a result, the company’s consensus revenue prediction was 27.8 billion euros, and its profit was 9.9 billion.
Deutsche Telekom’s tower business sale reduced net debt excluding leases by nearly 10 billion euros from 2022 to 93 billion euros. In addition, the business said that the transaction drove almost quadrupling of net profit to 15.4 billion euros compared to last year.
After an unexpected last-minute proposal of 17.5 billion euros ($17.5 billion), Deutsche Telekom sold 51% of its tower business in Germany and Austria to a partnership of Brookfield and DigitalBridge in July 2022.
