Deutsche Telekom (DT) shrugged-off negative impacts of the Covid-19 (coronavirus) pandemic on its business in Q1, highlighting a boost in its German fixed business, US gains and growth in its Europe division.
In its earnings statement the operator group noted growth in all key metrics, despite a fall in roaming and visitor revenue at its Europe segment, which covers everything except its operations in Germany and the US.
Fixed sales and post-paid mobile users were up in Germany, helping to offset a pandemic-related drop in roaming revenue.
On a call to discuss its figures, CFO Christian Illek noted it also made solid progress on its 5G build in its home market, with coverage reaching 80 per cent of the country at the end of Q1. It expects to expand this to 90 per cent by the end of the year.
Illek added the business had “achieved excellent customer numbers and financial figures on both sides of the Atlantic,” pointing to positive figures released by its US subsidiary last week.
Group revenue increased 32 per cent year-on-year to €26.4 billion, with Illek noting the “vast majority” of the increase was a result of the inclusion of US acquisition Sprint in its results having completed the deal in April 2020. He added organic growth was around 7 per cent. Net profit increased 2.2 per cent to €936 million.
Illek also highlighted its latest climate targets, with the operator bringing forward a goal of being “climate-neutral” in its own operations from 2030 to 2025. It also trimmed ten years off a goal related to net zero emissions from its supply chain to 2040.
Its full revised environmental targets are set to be revealed at its investor event later this month.Subscribe to our daily newsletter Back