Deutsche Telekom 2Q Net Profit Up; Backs Outlook
August 08 2019 - 1:49AM
Dow Jones News
By Patrick Costello
Deutsche Telekom AG (DTE.XE) said Thursday that net profit rose
sharply in the second quarter and confirmed its 2019 outlook.
The German telecommunications company booked a net profit of 944
million euros ($1.06 billion) in the second quarter, up 90.7% from
EUR495 million the same period last year, when the company incurred
a EUR600 million expense related to a settlement.
Revenue rose 7.1% to EUR19.66 billion from EUR18.37 billion.
Mobile-service revenues in its home market of Germany were up 2.4%
on year, Telekom said.
Adjusted earnings before interest, taxes, depreciation,
amortization after leases, or Ebitdaal, was up 7.1% to EUR6.28
billion from EUR5.87 billion, giving the company an adjusted
Ebitdaal margin of 32%, Telekom said.
Telekom said it began using Ebitdaal in January as a financial
indicator to measure operating earnings performance to account for
the adoption of the IFRS 16 accounting standard.
Telekom backed its 2019 outlook, including "slight increase" in
revenue, an adjusted Ebitdaal of EUR23.9 billion and a free cash
flow after leases of roughly EUR6.7 billion.
Write to Patrick Costello at patrick.costello@dowjones.com.
(END) Dow Jones Newswires
August 08, 2019 01:34 ET (05:34 GMT)
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