DTE

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By Adria Calatayud

Deutsche Telekom AG said Thursday that it expects growth in adjusted earnings and cash flow this year after reporting a rise in fourth-quarter adjusted earnings despite a weaker-than-expected revenue performance.

The German telecommunications giant said adjusted earnings before interest, taxes, depreciation and amortization after leases--a closely watched metric in the industry--for the quarter rose to 9.96 billion euros ($10.56 billion) from EUR9.01 billion a year earlier. Growth in the U.S. and Germany offset a slight decline in the rest of the company's European operations, it said.

Net profit more than doubled to EUR1.01 billion.

Revenue for the quarter increased to EUR29.80 billion from EUR28.65 billion a year earlier, Deutsche Telekom said.

Analysts expected Deutsche Telekom's fourth-quarter adjusted Ebitda after leases to come in at EUR9.90 billion on revenue of EUR30.01 billion, according to consensus estimates provided by the company.

For 2023, Deutsche Telekom said adjusted Ebitda after leases is expected to grow 4% to reach around EUR40.8 billion, and free cash flow after leases is forecast to grow 40% on a pro-forma basis to over EUR16 billion.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

February 23, 2023 01:14 ET (06:14 GMT)

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