5/9/2019, 7:15 AM (Source: TeleTrader)
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Deutsche Telekom raises revenue by 8.7% to €19.5B

Largest European telecommunications company by revenue, Deutsche Telekom AG, reported on Thursday that its revenue for the first quarter of 2019 amounted to €19.48 billion, 8.7% higher than in the same quarter a year ago, and 3.5% higher in organic terms.

Meanwhile, net profit was down 9.3% to €900 million in the three months through March this year, while earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped 22.6% to €6.46 billion. The company's net debt was up 42.5% in the same period, reaching €71.88 billion. On the other hand, the number of employees decreased by 1.1% and was 214,609.

"We got off to a successful start to the year. Deutsche Telekom has much more to offer than just our sensational success in the United States. We are seeing positive trends throughout the Group," said Tim Höttges, CEO of the company.

Baha Breaking News (BBN) / NI