Deutsche Telekom Reports Profit Jump in Third Quarter
Deutsche Telekom announced a significant increase in its third-quarter financial performance for 2015, with net profit rising nearly 60 percent and revenue growing by 9.3 percent.
Deutsche Telekom reported a substantial increase in its financial performance for the third quarter of 2015. The company's net profit surged by 59.9 percent to 809 million euros compared to the same period a year prior. Adjusted net profit saw a 30 percent increase, reaching 1 billion euros.
The Group's revenue grew by 9.3 percent to 17.1 billion euros. Adjusted EBITDA also showed strong growth, up 12.9 percent to 5.2 billion euros. Free cash flow increased by 16.3 percent to 1.3 billion euros, despite significant investments of 2.7 billion euros in network expansion.
CEO Tim Höttges stated that the company is resolutely pursuing its strategy, with high investments in broadband rollout and connectivity forming the basis for continued growth. Deutsche Telekom reaffirmed its full-year 2015 guidance. The company's net debt also decreased to 47.8 billion euros from 48.8 billion euros in the previous quarter.
In Germany, significant growth was seen in fiber-optic connections, adding 425,000 customers. The US subsidiary, T-Mobile US, exceeded customer growth forecasts, adding 1.1 million net new customers during the quarter and raising its own full-year outlook.