Deutsche Telekom reported Q1 net income of EUR 0.85 billion, its first quarterly profit since 2000. Revenues increased 6.6% year-to-year to EUR 13.6 billion, with EBITDA climbing almost 30% to EUR 4.9 billion. Some highlights of the quarter:
- net debt was reduced to EUR 56.3 billion, down 7.9% since the end of December
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there was EUR 2.0 billion in free cash flow for Q1, up from EUR 0.3 billion a year earlier
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revenues generated by DT’s international subsidiaries and shareholdings rose 20.2% in the quarter and now constitute 37.5% of the company’s overall revenue
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as of 31-Mar-03, Deutsche Telekom had 3.5 million T-DSL contracts sold in Germany. T-Online has an additional 187,000 broadband subscribers in its European subsidiaries, such as Spain’s Ya.com and France’s Club-Internet.
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T-Systems, the company’s integration business, boosted revenues by 2.8% to just under EUR 2.6 billion, despite poor market conditions
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T-Mobile boosted revenues 18.9% year-to-year to EUR 5.3 billion. Much of the increases are due to growth at T-Mobile USA, which added 3.3 million users compared to a year ago. Overall, T-Mobile had 55.1 million users worldwide at the end of the quarter, up by 8.8 million over a year ago.
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CAPEX for Q1 was EUR 0.9 billion, compared to EUR 1.7 billion for Q1 2002. By division, CAPEX for Q1 totaled EUR 0.3 billion for T-Com, EUR 0.4 billion for T-Mobile, EUR 0.1 billion for T-Systems, and EUR 0.1 billion for T-Online and all other company groups. Anticipated CAPEX for the full year is in the range of EUR 6.7 to 7.7 billion.
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Anticipating lower CAPEX, additional efficiency gains from restructuring and further free cash flows, Deutsche Telekom said it aims to be net income positive for the full year, 2003
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