The following is a summary of the Deutsche Telekom AG (DTEGY) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Deutsche Telekom AG reported a 4% service revenue growth, a 7% organic EBITDA growth, and a 15% growth in adjusted earnings per share in Q1 2024.

• T-Mobile US, part of Deutsche Telekom, saw service revenues grow by 3.5% but experienced lower equipment revenues.

• Germany saw organic revenue growth of 2.6% while that for the European segment reached 5.7% year-on-year; the later segment also had a strong organic EBITDA growth of 8.1%.

• Deutsche Telekom has reported solid volume growth in their European segment due to significant growth in mobile customers.

• The company reported an increase in net margin due to price increases in various markets within their European segment.

• Through prudent management, better energy costs have contributed approximately two percentage points to EBITDA growth.

Business Progress:

• Deutsche Telekom's progressing with its fiber joint venture with EQT and targeting 3.5 million households in the US by 2028; it's also increased its footprint, passing another 500 million additional European homes with FTTH, reaching 17.5 million in total.

• Despite facing intense promotions from competitors, Deutsche Telekom has maintained its position through network leadership and innovative offers.

• The company has kept a positive outlook for growth in broadband performance, increasing their market share from the current 50%, and the fiber rollout with agreements already covering 4.6 million German homes.

• €2 billion is invested in a venture capital fund for future development ventures, with an additional focus on expanding into the US fibre market and network security, IoT, Gen AI business.

• Deutsche Telekom is considering a fund specializing in data centres and cloud infrastructure in Europe.

• The company reiterated its commitment to financial stability, expecting to leverage its business to meet capital market targets, coupled with an exploration of benefits from serving potential 300 million customers across Europe.

More details: DEUTSCHE TELEKOM IR

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