Deutsche Telekom AG - Financial results first quarter 2023

• Group revenue up 0.3 percent to 27.8 billion euros
• Adjusted EBITDA AL up 0.9 percent to 10.0 billion euros; adjusted core EBITDA AL increased by 4.4 percent in organic terms
• Reported net profit up 289 percent, driven by sale of tower business
• Guidance for adjusted EBITDA AL raised to around 40.9 billion euros for 2023
• Germany: strong customer growth
• T-Mobile US: growth continues unabated
• Europe: remains resilient

Successful start. In the first three months of the year, Deutsche Telekom saw continued strong growth in customer numbers and achieved good financial KPIs. Group revenue increased by 0.3 percent to 27.8 billion euros, with service revenue, which is essential for business development, increasing by 3.5 percent to 22.8 billion euros. Adjusted EBITDA AL rose by 0.9 percent to 10.0 billion euros. On an organic basis, i.e., excluding exchange rate fluctuations and changes in the composition of the Group, revenue declined by 0.5 percent, service revenue increased by 2.6 percent, and adjusted EBITDA AL increased by 1.0 percent. Adjusted core EBITDA AL, i.e., excluding the effect of the withdrawal from the terminal equipment lease business in the United States, increased by 4.4 percent in organic terms.

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