Consensus Details Q1 and FY 2020 - 2024
Disclaimer
This document has been issued by Deutsche Telekom AG for information purposes only and is not intended to constitute investment advice. It is based on estimates and forecasts of various analysts regarding our revenues, earnings and business developments.
Such estimates and forecasts cannot be independently verified by reason of the subjective character. Deutsche Telekom gives no guarantee, representation or warranty and is not responsible or liable as to its accuracy and completeness.
Haftungsausschluss
Dieses Dokument wurde von der Deutschen Telekom AG ausschließlich zu Informationszwecken erstellt und dient keinesfalls der Anlageberatung. Es beruht auf der Bewertung der bisherigen und Einschätzung der zukünftigen Umsatz-, Gewinn- und
Geschäftsentwicklung durch verschiedene Börsenanalysten. Die Bewertungen und Einschätzungen sind wegen ihres subjektiven Charakters einer unabhängigen Verifizierung nicht zugänglich. Trotz sorgfältiger Prüfung kann die Deutsche Telekom AG keine Garantie,
Zusicherung oder Gewährleistung für die Vollständigkeit und Richtigkeit abgeben; eine Verantwortlichkeit und Haftung ist folglich insoweit ausgeschlossen.
of estimates | FY | of estimates | FY | of estimates | FY | of estimates | FY | of estimates | FY | of estimates | ||||||||||||||||||||||
Q1 | High | Low | Average | 20 | High | Low | Average | 21 | High | Low | Average | 22 | High | Low | Average | 23 | High | Low | Average | 24 | High | Low | Average | |||||||||
# | # | # | # | # | # | |||||||||||||||||||||||||||
DE | 5.370 | 17 | 5.487 | 5.278 | 5.368 | 21.796 | 17 | 22.163 | 20.452 | 21.707 | 22.046 | 17 | 22.480 | 20.483 | 21.938 | 22.145 | 16 | 22.800 | 20.259 | 22.041 | 22.241 | 15 | 23.111 | 20.048 | 22.119 | 22.699 | 13 | 23.421 | 19.694 | 22.337 | ||
MSR growth YoY in % | 1.4% | 16 | 1.8% | 0.8% | 1.3% | 1.2% | 16 | 2.0% | -0.9% | 0.7% | 1.3% | 16 | 4.8% | -3.3% | 1.2% | 1.6% | 15 | 3.0% | -1.0% | 1.4% | 1.3% | 14 | 2.7% | 0.0% | 1.3% | 1.4% | 12 | 2.9% | -2.1% | 1.3% | ||
Mobile Contract Net Adds (own-branded) ['000] | 73 | 8 | 102 | 50 | 77 | 272 | 10 | 600 | -456 | 239 | 425 | 10 | 544 | 125 | 377 | 304 | 10 | 500 | 50 | 320 | 300 | 9 | 500 | 50 | 306 | 300 | 8 | 500 | 50 | 296 | ||
Retail Line Losses ['000] | 150 | 13 | 173 | 100 | 146 | 646 | 14 | 936 | 500 | 644 | 513 | 14 | 900 | 200 | 535 | 500 | 13 | 899 | 275 | 533 | 500 | 11 | 650 | 246 | 442 | 488 | 9 | 565 | 246 | 407 | ||
BB retail Net Adds DT ['000] | 41 | 14 | 69 | 10 | 42 | 150 | 15 | 273 | -211 | 121 | 162 | 15 | 300 | 81 | 174 | 167 | 15 | 400 | 2 | 156 | 115 | 13 | 256 | -1 | 125 | 114 | 12 | 259 | -4 | 119 | ||
TMUS (gross revs in €) | 10.448 | 17 | 10.640 | 9.967 | 10.402 | 42.692 | 12 | 44.437 | 39.560 | 42.489 | 44.966 | 12 | 45.814 | 42.485 | 44.628 | 46.078 | 11 | 47.885 | 43.257 | 45.993 | 47.309 | 10 | 49.402 | 43.785 | 46.962 | 48.441 | 8 | 51.180 | 46.080 | 48.730 | ||
Gross revs in $ | 11.488 | 15 | 11.724 | 10.964 | 11.466 | 47.210 | 11 | 49.745 | 43.516 | 46.797 | 49.288 | 11 | 51.023 | 45.818 | 49.118 | 50.522 | 10 | 53.122 | 46.651 | 50.538 | 51.548 | 9 | 55.288 | 47.220 | 51.742 | 53.631 | 7 | 57.278 | 51.975 | 53.882 | ||
Service revs in $ | 8.666 | 15 | 8.833 | 8.501 | 8.668 | 35.740 | 10 | 39.232 | 34.816 | 35.920 | 37.437 | 10 | 40.773 | 36.163 | 37.537 | 38.827 | 9 | 39.472 | 36.993 | 38.589 | 40.068 | 8 | 41.082 | 37.566 | 39.785 | 41.097 | 6 | 42.544 | 39.224 | 41.084 | ||
FX-Rate: 1 Euro for ... | 1.10 | 15 | 1.12 | 0.92 | 1.09 | 1.09 | 14 | 1.12 | 1.08 | 1.10 | 1.09 | 14 | 1.12 | 1.08 | 1.10 | 1.09 | 13 | 1.12 | 1.08 | 1.10 | 1.10 | 12 | 1.14 | 1.08 | 1.10 | 1.09 | 10 | 1.12 | 1.08 | 1.10 | ||
EU | 2.892 | 17 | 2.970 | 2.836 | 2.889 | 11.961 | 17 | 12.406 | 11.585 | 11.987 | 12.038 | 17 | 12.563 | 11.664 | 12.077 | 12.133 | 16 | 12.696 | 11.701 | 12.159 | 12.276 | 15 | 12.832 | 11.754 | 12.245 | 12.435 | 13 | 12.963 | 11.811 | 12.383 | ||
Poland | 351 | 16 | 360 | 335 | 349 | 1.456 | 16 | 1.520 | 1.332 | 1.448 | 1.466 | 16 | 1.540 | 1.285 | 1.448 | 1.471 | 15 | 1.561 | 1.318 | 1.460 | 1.491 | 14 | 1.582 | 1.285 | 1.455 | 1.509 | 12 | 1.600 | 1.315 | 1.485 | ||
Czechs | 264 | 16 | 273 | 243 | 263 | 1.076 | 16 | 1.174 | 994 | 1.082 | 1.091 | 16 | 1.205 | 1.025 | 1.097 | 1.103 | 15 | 1.214 | 1.039 | 1.105 | 1.113 | 14 | 1.251 | 1.047 | 1.125 | 1.125 | 12 | 1.288 | 1.054 | 1.136 | ||
Austria | 309 | 16 | 320 | 303 | 310 | 1.282 | 16 | 1.311 | 1.237 | 1.281 | 1.297 | 16 | 1.317 | 1.245 | 1.292 | 1.310 | 15 | 1.334 | 1.258 | 1.303 | 1.317 | 14 | 1.351 | 1.265 | 1.314 | 1.332 | 12 | 1.370 | 1.271 | 1.326 | ||
Greece | 707 | 14 | 725 | 675 | 704 | 2.917 | 14 | 3.003 | 2.860 | 2.927 | 2.959 | 14 | 3.059 | 2.873 | 2.970 | 2.981 | 13 | 3.119 | 2.934 | 3.008 | 3.022 | 12 | 3.179 | 2.873 | 3.035 | 3.086 | 10 | 3.241 | 2.971 | 3.096 | ||
Hungary | 442 | 16 | 470 | 420 | 444 | 1.805 | 16 | 1.910 | 1.719 | 1.802 | 1.836 | 16 | 1.919 | 1.713 | 1.822 | 1.853 | 15 | 1.938 | 1.739 | 1.835 | 1.882 | 14 | 1.977 | 1.759 | 1.858 | 1.885 | 12 | 2.017 | 1.774 | 1.870 | ||
Slovakia | 187 | 16 | 191 | 185 | 188 | 789 | 16 | 810 | 771 | 792 | 801 | 16 | 852 | 773 | 804 | 805 | 15 | 862 | 761 | 812 | 815 | 14 | 889 | 791 | 821 | 830 | 12 | 917 | 801 | 835 | ||
Croatia | 219 | 16 | 225 | 214 | 219 | 935 | 16 | 979 | 905 | 939 | 948 | 16 | 979 | 905 | 945 | 950 | 15 | 983 | 897 | 945 | 958 | 14 | 993 | 885 | 952 | 967 | 12 | 1.005 | 873 | 953 | ||
Romania | 214 | 14 | 234 | 177 | 213 | 963 | 14 | 1.058 | 737 | 947 | 965 | 14 | 1.051 | 744 | 951 | 974 | 13 | 1.076 | 739 | 961 | 975 | 12 | 1.098 | 734 | 966 | 984 | 10 | 1.187 | 731 | 993 | ||
Group Development | 701 | 17 | 771 | 662 | 703 | 2.861 | 17 | 3.363 | 2.688 | 2.869 | 2.943 | 17 | 3.514 | 2.692 | 2.954 | 2.999 | 16 | 3.148 | 2.724 | 2.973 | 3.069 | 15 | 3.514 | 2.765 | 3.066 | 3.141 | 13 | 3.241 | 2.807 | 3.099 | ||
Netherlands | 470 | 14 | 516 | 447 | 475 | 1.937 | 14 | 2.361 | 1.773 | 1.953 | 1.988 | 14 | 2.501 | 1.776 | 2.024 | 2.013 | 13 | 2.339 | 1.809 | 2.023 | 2.067 | 12 | 2.501 | 1.850 | 2.097 | 2.105 | 10 | 2.436 | 1.892 | 2.100 | ||
GD Towers | 241 | 13 | 248 | 210 | 238 | 973 | 13 | 1.003 | 843 | 960 | 988 | 13 | 1.037 | 826 | 978 | 1.005 | 12 | 1.078 | 809 | 991 | 1.028 | 11 | 1.115 | 793 | 1.011 | 1.064 | 9 | 1.151 | 777 | 1.030 | ||
T-Systems | 1.630 | 17 | 1.654 | 1.597 | 1.629 | 6.672 | 17 | 6.905 | 5.541 | 6.606 | 6.630 | 17 | 6.878 | 5.597 | 6.588 | 6.710 | 16 | 6.942 | 5.652 | 6.609 | 6.610 | 15 | 6.908 | 5.709 | 6.603 | 6.742 | 13 | 7.036 | 5.766 | 6.659 | ||
GHS | 649 | 17 | 664 | 618 | 644 | 2.568 | 17 | 2.620 | 2.489 | 2.567 | 2.541 | 17 | 2.646 | 2.365 | 2.533 | 2.503 | 16 | 2.673 | 2.246 | 2.497 | 2.501 | 15 | 2.699 | 2.206 | 2.474 | 2.462 | 13 | 2.726 | 2.114 | 2.450 | ||
Reconciliation | -1.519 | 16 | -1.481 | -1.570 | -1.521 | -6.108 | 11 | -5.944 | -6.358 | -6.152 | -6.092 | 11 | -5.841 | -6.494 | -6.176 | -6.088 | 10 | -5.751 | -6.624 | -6.179 | -6.117 | 9 | -5.669 | -6.737 | -6.217 | -6.166 | 7 | -6.001 | -6.843 | -6.376 | ||
Group Revenues | 20.142 | 17 | 20.563 | 19.555 | 20.115 | 82.534 | 12 | 85.071 | 79.261 | 82.389 | 85.278 | 12 | 86.557 | 81.934 | 84.814 | 86.379 | 11 | 88.986 | 82.630 | 86.383 | 87.357 | 10 | 91.218 | 83.011 | 87.557 | 89.423 | 8 | 93.298 | 87.499 | 89.784 | ||
Net Revenues | ||||||||||||||||||||||||||||||||
DE | 5.053 | 11 | 5.158 | 4.962 | 5.045 | 20.608 | 11 | 20.813 | 20.083 | 20.524 | 20.757 | 11 | 20.951 | 20.236 | 20.709 | 20.859 | 11 | 21.164 | 20.170 | 20.824 | 21.015 | 9 | 21.344 | 20.036 | 20.921 | 21.400 | 7 | 21.541 | 20.274 | 21.209 | ||
TMUS | 10.393 | 11 | 10.627 | 9.967 | 10.331 | 42.625 | 9 | 43.498 | 39.560 | 42.101 | 44.757 | 9 | 45.814 | 42.485 | 44.428 | 46.078 | 9 | 47.885 | 43.257 | 45.811 | 47.169 | 7 | 49.402 | 43.785 | 46.784 | 48.181 | 5 | 51.180 | 46.080 | 48.751 | ||
EU | 2.809 | 11 | 2.831 | 2.778 | 2.804 | 11.638 | 11 | 11.840 | 11.385 | 11.631 | 11.675 | 11 | 12.018 | 11.401 | 11.721 | 11.760 | 11 | 12.200 | 11.478 | 11.795 | 11.892 | 9 | 12.400 | 11.556 | 11.873 | 12.064 | 7 | 12.604 | 11.635 | 12.057 | ||
Group Development | 532 | 11 | 596 | 508 | 539 | 2.201 | 11 | 2.400 | 2.108 | 2.209 | 2.262 | 11 | 2.530 | 2.146 | 2.282 | 2.330 | 11 | 2.665 | 2.117 | 2.327 | 2.370 | 9 | 2.826 | 2.117 | 2.389 | 2.406 | 7 | 2.545 | 2.013 | 2.365 | ||
T-Systems | 1.280 | 11 | 1.309 | 1.252 | 1.276 | 5.308 | 11 | 5.466 | 4.862 | 5.242 | 5.295 | 11 | 5.466 | 4.911 | 5.255 | 5.289 | 11 | 5.522 | 4.960 | 5.282 | 5.208 | 9 | 5.614 | 5.010 | 5.282 | 5.432 | 7 | 5.733 | 5.060 | 5.382 | ||
GHS | 48 | 11 | 62 | 44 | 50 | 194 | 11 | 270 | 178 | 201 | 194 | 11 | 270 | 177 | 201 | 194 | 11 | 270 | 176 | 200 | 180 | 9 | 251 | 175 | 192 | 194 | 7 | 250 | 176 | 196 | ||
Adj. EBITDA AL | ||||||||||||||||||||||||||||||||
DE | 2.148 | 17 | 2.195 | 2.111 | 2.150 | 8.857 | 17 | 8.953 | 8.627 | 8.835 | 9.075 | 17 | 9.265 | 8.562 | 8.997 | 9.175 | 17 | 9.548 | 8.570 | 9.120 | 9.236 | 15 | 9.805 | 8.507 | 9.247 | 9.408 | 13 | 10.031 | 8.475 | 9.445 | ||
TMUS | 2.937 | 17 | 3.031 | 2.812 | 2.935 | 12.034 | 12 | 12.301 | 11.518 | 11.958 | 12.712 | 12 | 13.183 | 12.108 | 12.664 | 13.348 | 12 | 13.823 | 12.293 | 13.306 | 13.747 | 10 | 14.683 | 12.444 | 13.801 | 14.647 | 8 | 15.483 | 13.363 | 14.492 | ||
$ (IFRS) | 3.279 | 15 | 3.512 | 2.748 | 3.268 | 13.509 | 10 | 14.254 | 11.167 | 13.401 | 14.434 | 10 | 14.995 | 12.023 | 14.140 | 15.077 | 10 | 15.807 | 12.794 | 14.833 | 15.700 | 8 | 16.651 | 13.278 | 15.280 | 16.806 | 6 | 17.468 | 13.556 | 16.109 | ||
$ Ex handset leasing | 3.142 | 6 | 3.360 | 3.065 | 3.188 | 13.313 | 4 | 13.456 | 12.422 | 13.126 | 14.270 | 4 | 14.316 | 12.528 | 13.846 | 14.906 | 4 | 15.212 | 12.728 | 14.438 | 15.313 | 3 | 15.964 | 12.892 | 14.723 | 16.161 | 2 | 16.611 | 15.711 | 16.161 | ||
EU | 962 | 17 | 989 | 928 | 960 | 3.992 | 17 | 4.135 | 3.761 | 3.985 | 4.026 | 17 | 4.230 | 3.673 | 4.032 | 4.087 | 17 | 4.275 | 3.714 | 4.083 | 4.156 | 15 | 4.341 | 3.755 | 4.141 | 4.245 | 13 | 4.387 | 3.796 | 4.218 | ||
Poland | 93 | 15 | 103 | 88 | 93 | 375 | 15 | 422 | 359 | 382 | 381 | 15 | 433 | 346 | 385 | 382 | 15 | 435 | 334 | 386 | 385 | 13 | 437 | 322 | 388 | 386 | 11 | 440 | 349 | 398 | ||
Czechs | 109 | 15 | 115 | 98 | 109 | 446 | 15 | 511 | 423 | 447 | 446 | 15 | 538 | 418 | 451 | 449 | 15 | 566 | 418 | 458 | 461 | 13 | 583 | 430 | 469 | 468 | 11 | 601 | 433 | 475 | ||
Austria | 121 | 15 | 129 | 111 | 121 | 485 | 15 | 525 | 425 | 481 | 499 | 15 | 526 | 431 | 492 | 510 | 15 | 545 | 435 | 501 | 519 | 13 | 557 | 438 | 506 | 526 | 11 | 567 | 462 | 518 | ||
Greece | 292 | 13 | 305 | 280 | 291 | 1.213 | 13 | 1.251 | 1.167 | 1.218 | 1.243 | 13 | 1.290 | 1.175 | 1.237 | 1.242 | 13 | 1.331 | 1.180 | 1.253 | 1.287 | 11 | 1.360 | 1.185 | 1.273 | 1.310 | 9 | 1.391 | 1.185 | 1.308 | ||
Hungary | 117 | 15 | 137 | 111 | 121 | 523 | 15 | 599 | 502 | 538 | 538 | 15 | 611 | 499 | 542 | 545 | 15 | 619 | 501 | 550 | 552 | 13 | 623 | 525 | 561 | 558 | 11 | 627 | 531 | 570 | ||
Slovakia | 83 | 15 | 87 | 78 | 83 | 332 | 15 | 348 | 325 | 332 | 336 | 15 | 359 | 326 | 337 | 341 | 15 | 370 | 322 | 341 | 351 | 13 | 382 | 326 | 347 | 357 | 11 | 394 | 334 | 355 | ||
Croatia | 83 | 15 | 99 | 81 | 84 | 356 | 15 | 396 | 342 | 360 | 359 | 15 | 396 | 349 | 362 | 362 | 15 | 396 | 346 | 364 | 365 | 13 | 396 | 344 | 366 | 367 | 11 | 396 | 342 | 368 | ||
Romania | 28 | 13 | 35 | 23 | 28 | 139 | 13 | 154 | 116 | 137 | 142 | 13 | 152 | 116 | 139 | 144 | 13 | 161 | 117 | 142 | 147 | 11 | 176 | 117 | 146 | 149 | 9 | 190 | 118 | 152 | ||
Group Development | 266 | 17 | 277 | 257 | 267 | 1.083 | 17 | 1.137 | 1.038 | 1.086 | 1.140 | 17 | 1.255 | 1.060 | 1.145 | 1.176 | 17 | 1.371 | 1.078 | 1.185 | 1.217 | 15 | 1.403 | 1.098 | 1.218 | 1.231 | 13 | 1.436 | 1.117 | 1.253 | ||
Netherlands | 132 | 13 | 154 | 124 | 133 | 530 | 14 | 614 | 497 | 535 | 574 | 14 | 682 | 528 | 580 | 592 | 14 | 716 | 544 | 601 | 605 | 12 | 733 | 560 | 616 | 619 | 10 | 742 | 574 | 629 | ||
GD Towers | 142 | 13 | 147 | 122 | 140 | 573 | 14 | 596 | 489 | 572 | 588 | 14 | 626 | 487 | 587 | 611 | 14 | 663 | 486 | 603 | 627 | 12 | 707 | 484 | 620 | 652 | 10 | 755 | 482 | 644 | ||
T-Systems | 112 | 17 | 147 | 80 | 111 | 528 | 17 | 613 | 423 | 527 | 528 | 17 | 667 | 448 | 541 | 538 | 17 | 740 | 460 | 554 | 548 | 15 | 813 | 454 | 564 | 557 | 13 | 820 | 487 | 576 | ||
GHS | -137 | 17 | -104 | -183 | -137 | -654 | 17 | -565 | -751 | -662 | -651 | 17 | -554 | -744 | -657 | -651 | 17 | -543 | -737 | -652 | -651 | 15 | -532 | -735 | -650 | -651 | 13 | -521 | -768 | -653 | ||
Reconciliation | -5 | 13 | -2 | -20 | -8 | -28 | 9 | -20 | -129 | -38 | -28 | 9 | -20 | -135 | -59 | -29 | 9 | -20 | -140 | -69 | -64 | 8 | -20 | -146 | -85 | 54 | 6 | -20 | -151 | -82 | ||
Group adj. EBITDA AL | 6.276 | 17 | 6.404 | 6.176 | 6.279 | 25.842 | 12 | 26.130 | 25.251 | 25.752 | 26.783 | 12 | 27.444 | 25.431 | 26.764 | 27.696 | 12 | 28.703 | 25.622 | 27.634 | 28.456 | 10 | 29.960 | 25.744 | 28.386 | 29.525 | 8 | 31.091 | 27.974 | 29.524 | ||
ex US EBITDA AL | 3.358 | 16 | 3.388 | 3.277 | 3.345 | 13.794 | 16 | 14.072 | 13.237 | 13.734 | 14.044 | 16 | 14.517 | 13.116 | 13.999 | 14.267 | 16 | 14.908 | 13.256 | 14.221 | 14.442 | 14 | 15.277 | 13.300 | 14.435 | 14.844 | 12 | 15.608 | 13.280 | 14.757 | ||
Group adj. EBITDA | 7.275 | 11 | 7.434 | 6.911 | 7.247 | 29.545 | 7 | 30.160 | 28.995 | 29.593 | 30.783 | 7 | 31.552 | 29.565 | 30.606 | 31.562 | 7 | 32.732 | 29.807 | 31.429 | 32.022 | 5 | 33.761 | 29.964 | 31.998 | 32.678 | 4 | 34.678 | 32.518 | 33.138 |
As of April 28, 2020 | 1 |
Consensus Details Q1 and FY 2020 - 2024
of estimates | FY | of estimates | FY | of estimates | FY | of estimates | FY | of estimates | FY | of estimates | |||||||||||||||||||||
Q1 | High | Low | Average | 20 | High | Low | Average | 21 | High | Low | Average | 22 | High | Low | Average | 23 | High | Low | Average | 24 | High | Low | Average | ||||||||
# | # | # | # | # | # | ||||||||||||||||||||||||||
Cash Capex (w/o Spectrum) | |||||||||||||||||||||||||||||||
DE | 1.154 | 16 | 1.220 | 1.003 | 1.129 | 4.200 | 17 | 4.339 | 3.669 | 4.178 | 4.244 | 17 | 4.400 | 3.658 | 4.219 | 4.301 | 17 | 4.643 | 4.080 | 4.300 | 4.300 | 15 | 4.700 | 3.900 | 4.302 | 4.243 | 13 | 4.820 | 3.800 | 4.312 | |
TMUS | 1.532 | 16 | 1.686 | 1.270 | 1.499 | 5.561 | 12 | 6.273 | 5.158 | 5.526 | 5.708 | 12 | 6.033 | 5.235 | 5.639 | 5.722 | 12 | 6.369 | 5.364 | 5.766 | 5.819 | 10 | 6.500 | 5.367 | 5.877 | 5.877 | 8 | 6.660 | 5.641 | 6.020 | |
$ | 1.704 | 14 | 1.860 | 1.469 | 1.674 | 6.084 | 10 | 6.353 | 5.733 | 6.051 | 6.256 | 10 | 6.806 | 5.900 | 6.250 | 6.304 | 10 | 7.475 | 5.900 | 6.388 | 6.418 | 8 | 7.619 | 5.818 | 6.525 | 6.474 | 6 | 7.796 | 6.072 | 6.718 | |
EU | 436 | 16 | 557 | 376 | 450 | 1.779 | 17 | 2.515 | 1.526 | 1.830 | 1.752 | 17 | 2.220 | 1.642 | 1.790 | 1.800 | 17 | 2.220 | 1.608 | 1.800 | 1.796 | 15 | 1.944 | 1.584 | 1.773 | 1.809 | 13 | 1.916 | 1.089 | 1.734 | |
Group Development | 108 | 16 | 140 | 75 | 108 | 506 | 17 | 750 | 300 | 499 | 510 | 17 | 651 | 300 | 499 | 475 | 17 | 733 | 300 | 495 | 467 | 15 | 825 | 300 | 486 | 448 | 13 | 929 | 300 | 487 | |
T-Systems | 93 | 16 | 106 | 65 | 92 | 378 | 17 | 422 | 317 | 377 | 375 | 17 | 424 | 336 | 381 | 378 | 17 | 412 | 333 | 381 | 383 | 14 | 414 | 330 | 385 | 387 | 13 | 417 | 336 | 387 | |
GHS | 251 | 16 | 300 | 204 | 252 | 967 | 17 | 1.200 | 581 | 938 | 939 | 17 | 1.200 | 531 | 912 | 938 | 17 | 1.200 | 531 | 895 | 934 | 15 | 1.200 | 531 | 879 | 921 | 13 | 1.200 | 482 | 850 | |
Group Cash Capex (w/o Spectrum) | 3.521 | 16 | 4.000 | 3.219 | 3.541 | 13.353 | 11 | 14.713 | 12.678 | 13.340 | 13.459 | 11 | 13.813 | 12.725 | 13.440 | 13.650 | 11 | 14.561 | 13.033 | 13.629 | 13.614 | 9 | 14.741 | 12.506 | 13.613 | 13.550 | 7 | 14.728 | 13.258 | 13.776 | |
1.703 | 7.998 | 8.776 | 9.255 | 10.053 | 11.007 | ||||||||||||||||||||||||||
Group FCF AL before dividends | 14 | 2.495 | 1.364 | 1.790 | 11 | 8.590 | 6.066 | 7.868 | 11 | 9.090 | 6.428 | 8.497 | 11 | 10.408 | 6.977 | 9.229 | 9 | 11.508 | 7.601 | 9.771 | 7 | 12.668 | 7.967 | 10.564 | |||||||
TMUS reported FCF AL in $ | 1.106 | 6 | 1.449 | 711 | 1.084 | 5.607 | 5 | 6.189 | 5.041 | 5.644 | 6.923 | 5 | 7.162 | 5.541 | 6.595 | 7.592 | 5 | 8.040 | 6.452 | 7.432 | 7.270 | 3 | 8.818 | 6.817 | 7.635 | 7.525 | 2 | 7.853 | 7.196 | 7.525 | |
Group ex-US FCF AL | 743 | 5 | 1.247 | 483 | 812 | 2.919 | 6 | 3.549 | 1.628 | 2.773 | 2.568 | 6 | 4.039 | 1.685 | 2.688 | 2.577 | 6 | 4.041 | 1.640 | 2.667 | 2.840 | 5 | 4.063 | 1.319 | 2.864 | 3.253 | 4 | 4.457 | 2.061 | 3.256 | |
0.60 | 0.63 | 0.67 | 0.68 | 0.70 | |||||||||||||||||||||||||||
Dividend per Share | 13 | 0.65 | 0.60 | 0.61 | 13 | 0.70 | 0.60 | 0.63 | 13 | 0.76 | 0.60 | 0.67 | 11 | 0.82 | 0.60 | 0.69 | 9 | 0.88 | 0.60 | 0.72 | |||||||||||
Group Net Financial Debt (incl. leases) | 74.871 | 13 | 77.773 | 74.414 | 75.134 | 76.566 | 11 | 82.667 | 71.090 | 76.714 | 72.775 | 11 | 81.337 | 65.980 | 73.393 | 68.386 | 11 | 78.734 | 60.351 | 69.453 | 64.183 | 8 | 77.094 | 54.516 | 64.931 | 61.654 | 6 | 76.006 | 50.231 | 61.864 | |
Group Net Debt (excl. leases) | 57.135 | 12 | 57.957 | 54.982 | 57.042 | 57.870 | 9 | 78.445 | 53.290 | 59.244 | 53.305 | 9 | 77.116 | 48.180 | 56.053 | 48.126 | 9 | 74.513 | 42.551 | 52.110 | 44.411 | 7 | 72.873 | 36.716 | 48.171 | 44.833 | 5 | 71.784 | 27.840 | 46.055 | |
TMUS Net Debt incl. leases (US GAAP in $) | 36.888 | 5 | 39.793 | 23.535 | 32.514 | 36.578 | 3 | 38.081 | 22.137 | 32.265 | 32.241 | 3 | 33.739 | 16.213 | 27.398 | 26.555 | 3 | 28.419 | 9.621 | 21.532 | 23.093 | 2 | 23.785 | 22.401 | 23.093 | 20.432 | 1 | 20.432 | 20.432 | 20.432 | |
TMUS Net Debt excl. leases (US GAAP in $) | 25.052 | 6 | 26.967 | 22.242 | 24.786 | 24.197 | 4 | 25.490 | 19.834 | 23.430 | 20.658 | 4 | 21.383 | 13.910 | 19.152 | 15.499 | 4 | 17.310 | 7.318 | 13.906 | 11.930 | 3 | 14.412 | 10.515 | 12.286 | 11.106 | 2 | 13.636 | 8.576 | 11.106 | |
Group assumed spending on spectrum | 175 | 7 | 850 | 120 | 262 | 3.684 | 9 | 6.861 | 200 | 3.396 | 771 | 8 | 2.436 | 100 | 967 | 943 | 6 | 2.436 | 500 | 1.227 | 1.692 | 5 | 2.763 | 900 | 1.602 | 1.328 | 4 | 7.319 | 900 | 2.719 | |
4.334 | 17.473 | 17.565 | 17.654 | 17.575 | 17.790 | ||||||||||||||||||||||||||
Group adj. D&A | 14 | 4.900 | 4.177 | 4.372 | 10 | 18.159 | 14.427 | 17.322 | 10 | 18.673 | 14.308 | 17.357 | 10 | 19.061 | 13.734 | 17.366 | 8 | 19.411 | 13.241 | 17.215 | 6 | 19.756 | 12.776 | 17.237 | |||||||
Group adj. EBIT | 2.848 | 15 | 3.059 | 2.534 | 2.850 | 12.037 | 11 | 12.751 | 10.532 | 11.906 | 12.960 | 11 | 14.152 | 11.948 | 12.967 | 13.750 | 10 | 14.655 | 12.774 | 13.761 | 14.718 | 9 | 15.671 | 13.057 | 14.585 | 15.443 | 7 | 17.214 | 13.312 | 15.521 | |
Group adj. Net Income (after minorities) | 1.231 | 16 | 1.542 | 1.034 | 1.238 | 5.202 | 12 | 6.647 | 3.629 | 5.188 | 5.840 | 12 | 7.249 | 4.684 | 5.815 | 6.208 | 11 | 8.600 | 4.793 | 6.393 | 6.955 | 10 | 9.062 | 4.807 | 6.899 | 8.001 | 8 | 9.910 | 4.849 | 7.819 | |
Group reported Net Income (after minorities) | 1.044 | 14 | 1.188 | 847 | 1.027 | 4.337 | 11 | 5.523 | 3.629 | 4.385 | 5.178 | 11 | 5.941 | 4.236 | 5.079 | 5.917 | 10 | 6.423 | 4.403 | 5.693 | 6.659 | 9 | 7.605 | 4.515 | 6.220 | 7.067 | 7 | 8.676 | 4.589 | 6.975 | |
Preliminary Consensus cum Sprint | |||||||||||||||||||||||||||||||
TMUS (gross revs in Euro) | 60.827 | 5 | 66.741 | 56.201 | 60.787 | 68.728 | 5 | 75.650 | 67.410 | 70.127 | 70.442 | 5 | 76.958 | 68.148 | 71.642 | 71.742 | 5 | 76.794 | 69.634 | 73.069 | 72.829 | 5 | 79.409 | 70.922 | 74.785 | ||||||
Group Revenues | 99.625 | 5 | 105.651 | 94.383 | 99.686 | 108.384 | 5 | 115.629 | 106.362 | 109.608 | 110.102 | 5 | 117.154 | 107.399 | 111.311 | 110.673 | 5 | 117.178 | 108.706 | 112.721 | 112.656 | 5 | 120.003 | 109.942 | 114.940 | ||||||
17.460 | 20.072 | 21.792 | 24.684 | 26.509 | |||||||||||||||||||||||||||
TMUS adj.EBITDA (in Euro) | 5 | 18.620 | 15.449 | 17.254 | 5 | 22.946 | 18.584 | 20.520 | 5 | 25.027 | 21.410 | 22.469 | 5 | 26.878 | 24.096 | 25.319 | 5 | 28.568 | 25.614 | 26.915 | |||||||||||
Group adj.EBITDA AL (in EURO) | 31.201 | 5 | 31.960 | 29.167 | 30.866 | 34.141 | 5 | 36.062 | 32.588 | 34.372 | 36.370 | 5 | 38.283 | 35.565 | 36.558 | 39.483 | 5 | 40.749 | 38.762 | 39.604 | 41.479 | 5 | 41.848 | 40.730 | 41.352 | ||||||
8.723 | 10.679 | 11.510 | 10.837 | 9.937 | |||||||||||||||||||||||||||
Cash Capex TMUS | 5 | 11.568 | 8.155 | 9.477 | 5 | 14.658 | 10.139 | 11.770 | 5 | 13.972 | 10.714 | 12.076 | 5 | 12.664 | 9.717 | 11.123 | 5 | 11.735 | 8.296 | 10.026 | |||||||||||
Group Cash Capex (w/o Spectrum) | 16.514 | 5 | 18.585 | 15.392 | 16.846 | 18.545 | 5 | 21.742 | 17.534 | 19.362 | 19.161 | 5 | 21.559 | 18.310 | 19.675 | 18.570 | 5 | 20.461 | 17.568 | 18.715 | 17.384 | 5 | 19.641 | 15.472 | 17.508 | ||||||
6.197 | 7.151 | 9.254 | 11.396 | 16.179 | |||||||||||||||||||||||||||
Group FCF AL before dividends | 5 | 7.998 | 5.800 | 6.500 | 5 | 7.507 | 3.160 | 6.039 | 5 | 10.009 | 4.494 | 7.733 | 5 | 13.773 | 10.414 | 11.759 | 5 | 18.804 | 9.333 | 14.925 | |||||||||||
0.60 | 0.60 | 0.65 | 0.70 | 0.73 | |||||||||||||||||||||||||||
Dividend per share | 4 | 0.66 | 0.60 | 0.62 | 4 | 0.73 | 0.60 | 0.63 | 4 | 0.80 | 0.60 | 0.68 | 4 | 0.88 | 0.60 | 0.72 | 4 | 0.97 | 0.60 | 0.76 | |||||||||||
Group Net Financial Debt (incl. leases) | 115.842 | 5 | 121.263 | 100.533 | 112.863 | 116.742 | 5 | 125.485 | 96.171 | 112.825 | 117.088 | 5 | 122.817 | 88.962 | 110.359 | 115.507 | 5 | 124.238 | 77.989 | 106.371 | 112.291 | 5 | 122.559 | 64.610 | 100.777 | ||||||
Group Net Debt (excl. leases) | 90.379 | 5 | 91.629 | 85.064 | 89.404 | 90.761 | 5 | 93.500 | 81.402 | 88.672 | 88.321 | 5 | 92.077 | 74.893 | 85.607 | 87.709 | 5 | 90.424 | 64.620 | 81.120 | 85.685 | 5 | 89.582 | 51.941 | 75.017 | ||||||
TMUS Net Debt incl. leases (US GAAP in $) | 78.736 | 3 | 85.955 | 75.204 | 79.965 | 77.013 | 3 | 91.141 | 75.569 | 81.241 | 78.109 | 3 | 86.857 | 73.722 | 79.563 | 74.928 | 3 | 93.322 | 68.361 | 78.870 | 77.935 | 3 | 100.579 | 61.722 | 80.079 | ||||||
TMUS Net Debt excl. leases (US GAAP in $) | 57.574 | 4 | 61.556 | 56.243 | 58.237 | 56.509 | 4 | 65.542 | 52.818 | 57.844 | 55.785 | 4 | 60.058 | 47.735 | 54.841 | 51.210 | 4 | 65.324 | 39.833 | 51.894 | 49.076 | 4 | 71.380 | 29.314 | 49.712 | ||||||
Group adj. Net Income (after minorities) | 3.988 | 5 | 4.977 | 3.017 | 3.856 | 5.512 | 5 | 7.983 | 3.078 | 5.069 | 6.618 | 5 | 10.757 | 3.594 | 6.334 | 7.604 | 5 | 15.672 | 4.055 | 8.061 | 8.640 | 5 | 16.493 | 4.717 | 8.944 | ||||||
Group reported Net Income (after minorities) | 2.198 | 4 | 3.240 | 567 | 2.051 | 2.119 | 4 | 6.266 | 779 | 2.821 | 3.203 | 4 | 8.443 | 1.544 | 4.098 | 4.585 | 4 | 8.443 | 1.752 | 4.841 | 5.688 | 4 | 12.945 | 2.326 | 6.662 |
Disclaimer
This document has been issued by Deutsche Telekom AG for information purposes only and is not intended to constitute investment advice. It is based on estimates and forecasts of various analysts regarding our revenues, earnings and business developments.
Such estimates and forecasts cannot be independently verified by reason of the subjective character. Deutsche Telekom gives no guarantee, representation or warranty and is not responsible or liable as to its accuracy and completeness.
Haftungsausschluss
Dieses Dokument wurde von der Deutschen Telekom AG ausschließlich zu Informationszwecken erstellt und dient keinesfalls der Anlageberatung. Es beruht auf der Bewertung der bisherigen und Einschätzung der zukünftigen Umsatz-, Gewinn- und
Geschäftsentwicklung durch verschiedene Börsenanalysten. Die Bewertungen und Einschätzungen sind wegen ihres subjektiven Charakters einer unabhängigen Verifizierung nicht zugänglich. Trotz sorgfältiger Prüfung kann die Deutsche Telekom AG keine Garantie,
Zusicherung oder Gewährleistung für die Vollständigkeit und Richtigkeit abgeben; eine Verantwortlichkeit und Haftung ist folglich insoweit ausgeschlossen.
As of April 28, 2020 | 2 |
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Deutsche Telekom AG published this content on 14 May 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 May 2020 08:09:07 UTC