Deutsche Telekom CEO Timotheus Hoettges reiterated ambitions to up its stake in subsidiary T-Mobile US as he praised the group’s performance in Europe and North America during 2021.

In comments made alongside its Q4 results, the Deutsche Telekom executive highlighted it was pursuing a long-term goal of taking its share of T-Mobile US to own the majority of the business, having struck a deal in 2021 to up its stake above 48 per cent.

He also noted the US business was making “huge strides” in its integration with former rival Sprint, which it merged with in 2020.

By the end of Q4, the Deutsche Telekom chief noted around 50 per cent of all former Sprint customers had been migrated to its own network with half of all expected $7.5 billion annual synergy savings from combining the two already achieved.

In Germany, Deutsche Telekom pointed to progress in customer recruitment in both mobile and fibre.

Its mobile customer base in the market was 53.2 million by end-December, up 10 per cent year-on-year.

Numbers
Net profit dropped 72 per cent to €471 million during Q4, on revenue of €28.9 billion, up 4.7 per cent.

Deutsche Telekom indicated direct comparisons of profit were difficult as the figure was impacted by various factors including “changes in the composition of the group, primarily the deconsolidation of T-Mobile Netherlands, and effects from the reduction of the terminal equipment lease business in the US”.

Full year revenue increased 7.7 per cent to €108.8 billion with net profit flat at €4.1 billion.

Hoettges hailed 2021 as “another good year” which “laid important foundations for Deutsche Telekom’s strategic further development”.