Deutsche Telekom profit dips by $1.1 billion in Q4

Admin I Friday, Feb. 23, 2024

 

FRANKFURT – German telecommunications giant Deutsche Telekom reported on Friday a loss of about €1 billion ($1.1 billion) for the fourth quarter. That is compared with a profit of €1.01 billion euros in the same quarter a year ago.

Excluding special items, the company posted adjusted earnings of €1.8 billion, or €0.37 per share, lower than €1.99 billion, or €0.40 per hare last year.

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) increased marginally to €11.619 billion from €11.495 billion a year ago.

Deutsche Telekom said its adjusted earnings before interest, taxes, depreciation and amortization after special losses (EBITDAaL) for the quarter increased by 0.5% year-on-year to €10.009 billion.

Fourth-quarter revenue was €29.4 billion, lower than €29.8 billion in the previous year.

For fiscal 2024, the company expects adjusted EBITDAaL to grow 6% to around €42.9 billion.