Deutsche Telekom’s net profit increased by almost 33 percent

The Deutsche Telekom group achieved revenues of 17.9 billion euros in the first quarter, which is 3.9 percent lower than a year earlier, while net profit increased by almost 33 percent, according to the business report of this German telecommunications giant.

According to the report published on Wednesday, the net profit of the DT group amounted to 992 million euros in the first quarter of this year, which is 32.8 percent higher than a year earlier. Such strong growth is attributed to a significant reduction in losses from financial activities, the report states.

Organic revenues, adjusted for the impact of exchange rates and changes in the group’s composition, increased by 3.1 percent year-on-year.

>>>Deutsche Telekom achieved 74.9 billion euros in revenue, profit increased by almost 30 percent

DT’s adjusted EBITDA, the majority owner of Hrvatski Telekom, amounted to 5.5 billion euros in the last quarter, the same as in the first quarter of last year, while on an organic basis it recorded a growth of 6.6 percent.

The report also states that free cash flow in the last quarter reached 1.4 billion euros, which is 12.5 percent higher than in the same period last year.

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Thanks to the favorable development of the situation in the USA, where T-Mobile US raised its business forecasts after a strong first quarter, Deutsche Telekom has increased its adjusted EBITDA forecasts for the entire year to 23.2 to 23.3 billion euros.

– We remain on the path to success in 2018. Our growth profile, unique in our industry, allows us to raise forecasts again, stated DT’s CEO Tim Hottges in the report.