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Deutsche Telekom raises guidance after strong Q1

05/12/2021 01:00
Deutsche Telekom raises guidance after strong Q1

- Deutsche Telekom DTEGn.DE on Wednesday raised its profit guidance for 2021 after a strong showing by its businesses in the United States and Europe in the first quarter, with group revenue and core profit beating market estimates.

“We are sustaining momentum and continuing our successful growth story,” said Chief Financial Officer Christian Illek. “Our customer numbers and key financial metrics are on track on both sides of the Atlantic.”

Following a guidance raise by U.S. unit T-Mobile TMUS.O, which has already reported results, Deutsche Telekom also slightly lifted the outlook for profit and cash flow at its European operations for the year. nL4N2MR3B4

It now expects group adjusted earnings before interest, depreciation, taxation and amortization after leases (EBITDA AL) to exceed 37 billion euros ($44.8 billion) and free cash flow after leases to exceed 8 billion euros.

Previously core profit had been seen at around 37 billion euros and free cash flow at around 8 billion.

($1 = 0.8251 euros)

(Reporting by Douglas Busvine, editing by Emma Thomasson)

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