Deutsche Telekom has reported revenue up 3.4 per cent in 2024 to €115.8 billion. Adjusted EBITDA AL was up 6.2 per cent to €43 billion, and service revenues grew by 3.9 per cent to €96.5 billion. The German telco reports that financial targets were achieved and, in some cases, exceeded, with further growth expected.

“Another record year for Deutsche Telekom,” commented CEO Tim Höttges. “We are growing across all business areas. Our flywheel, at the centre of our strategy, is spinning and generating the momentum we need to keep building on the successes of 2024 in 2025.”

Adjusted net profit increased by 18.3 per cent in 2024 to €9.4 billion, whereas unadjusted net profit declined 37 per cent to €11.2 billion. This is primarily attributed to the unadjusted figure from 2023 included a large gain from the sale of the majority stake in the GD Towers cell tower business. Recurring adjusted earnings per share came in at €1.83, higher than the guidance level of over €1.75. Excluding one-time effects, earnings per share amounted to as much as €1.90.

Deutsche Telekom expects adjusted EBITDA AL for the 2025 financial year of approximately €44.9 billion, an increase of around 4.5 per cent against 2024. Adjusted free cash flow AL is expected to increase by around 4 per cent to around €19.9 billion.

For the financial year just ended, the Group plans to distribute a dividend of €0.90 per share, which will be the highest dividend payment in Deutsche Telekom’s history. This is subject to approval by the relevant bodies. Deutsche Telekom additionally plans up to €2 billion in share buy-backs in 2025.

Germany: strong growth in fiber use

More than 10 million households can now subscribe to a fiber rate plan from Deutsche Telekom. The gigabit network already has a customer base of almost 1.5 million, with 472,000 new customers added in the year just ended. That was 61 per cent more than in 2023. The total number of net broadband additions in 2024 was 134,000. The TV customer base grew by 311,000.

Mobile service revenues grew in the fourth quarter by 2.1 per cent year-on-year. Branded contract customer additions amounted to 261,000 in the same period. In total, the customer base in this segment grew by 1.2 million over the full year.

Telekom Deutschland also reports positive trends in its most important financial performance indicators. Adjusted EBITDA AL increased by 2.7 per cent in 2024 to €10.5 billion. Revenue grew by 2.1 per cent compared with 2023 to €25.7 billion.

United States: net customer additions continue

T-Mobile US’ growth continued in 2024. Service revenues of T-Mobile US amounted to $66.1 billion, up 4.5 per cent against 2023. At the same time, adjusted EBITDA AL increased by 8.1 per cent to $30.9 billion.

In the year just ended, T-Mobile US reported 6.1 million new postpaid mobile customers, including 3.1 million phone customers. By year-end 2024, 6.4 million customers were using the fixed-network substitute product, High Speed Internet. That is 1.7 million more than a year earlier. For 2025, T-Mobile US expects further strong growth in postpaid mobile customers of 5.5 to 6 million.

T-Mobile US continued its share buy-back programme, while Deutsche Telekom has sold no further shares in T-Mobile US since mid-2024. As a result, Deutsche Telekom’s ownership stake in T-Mobile US had risen to 51.5 per cent as of January 24th 2025.

Europe: seven years of earnings growth

The Europe operating segment continued its earnings growth for the seventh year in succession, quarter by quarter. For full-year 2024, earnings increased in organic terms by 8.1 per cent to €4.4 billion. In organic terms, revenue increased in 2024 by 5.2 per cent year-on-year to €12.3 billion.

The mobile contract customer base increased by 729,000 in 2024, while the number of broadband lines grew by 234,000. The number of TV customers across the various technical platforms grew by 126,000 over the full year.

Systems Solutions: all targets achieved

T-Systems posted strong growth in 2024 and achieved all its set financial targets. At €4 billion, order entry was up 10.8 per cent year-on-year, despite the economic downturn in the automotive industry.

Revenue rose by 2.8 per cent to €4 billion in the year ended. Adjusted EBITDA AL increased by 14.8 per cent against 2023, coming in at €369 million, and surpassing the guidance of €0.3 billion.

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Categories: Articles, Business, Results, Telco

Tags: Deutsche Telekom, germany, T-Mobile, telco