By Olivia Bugault 
 

Deutsche Telekom AG set new financial targets and main areas of focus for the years until 2024 in order to boost its growth, the company said ahead of its capital markets day on Thursday .

The German telecommunications company said it expects its adjusted earnings before interest, taxes, depreciation, and amortization after leases to grow by 3% to 5% a year on average through 2024, while it targets an average annual revenue growth of 1% to 2% over the same period.

Its adjusted earnings per share should rise to over 1.75 euros ($2.13) by 2024 and 40% to 60% of the EPS should be paid out as dividend with a minimum dividend of EUR0.60 a share, the company said.

Deutsche Telekom said it will focus on fiber, 5G and digitalization in the coming years. "The percentage of customers in Germany who can book a pure fiber line (FTTH) from Deutsche Telekom is to increase from the current level of around 5% to more than 60% by 2030," it said, adding that "the 5G mobile communications standard is to cover 97% of the population in Germany by 2024."

 

Write to Olivia Bugault at olivia.bugault@wsj.com

 

(END) Dow Jones Newswires

May 20, 2021 01:33 ET (05:33 GMT)

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