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
there was EUR 2.0 billion in free cash flow for Q1, up from EUR 0.3 billion a year earlier
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
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.
T-Systems, the company’s integration business, boosted revenues by 2.8% to just under EUR 2.6 billion, despite poor market conditions
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.
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.
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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