Deutsche Telekom Exceeds 2023 Financial Targets
Deutsche Telekom announced it surpassed its 2023 financial goals, which had been raised multiple times. Net revenue grew organically by 0.6% to nearly 112 billion euros, while adjusted EBITDA AL increased by 4.0% to 40.5 billion euros.
Deutsche Telekom reported it exceeded its financial targets for 2023, which were revised upwards during the year. The company's net revenue saw an organic increase of 0.6%, reaching approximately 112 billion euros. Service revenues, a key performance indicator, grew by 3.6% organically to 92.9 billion euros.
The adjusted EBITDA AL rose by 4.0% organically to 40.5 billion euros. The company's free cash flow AL saw a significant increase of 40.7%, totaling 16.1 billion euros for the year. Reported net profit more than doubled to 17.8 billion euros, largely due to proceeds from the sale of a majority stake in its German and Austrian cell tower business (GD Towers).
Deutsche Telekom experienced customer growth across its operations. In Germany, broadband customer numbers increased by over 300,000, and fiber optic network coverage expanded. In the United States, T-Mobile US continued its industry-leading postpaid customer net additions.
Looking ahead, Deutsche Telekom has provided its guidance for 2024. The company anticipates adjusted EBITDA AL to grow by approximately 6% to around 42.9 billion euros. Free cash flow AL is projected to increase by about 16% to roughly 18.9 billion euros. Additionally, Deutsche Telekom plans to repurchase shares valued at up to 2 billion euros in 2024.