Q1 2026 Deutsche Telekom AG Earnings Call Transcript
Key Points
- Deutsche Telekom AG (DTEGF) reported a 4.6% year-on-year increase in group organic service revenues and a 7.5% growth in organic EBITDA.
- The company raised its group guidance, reflecting T-Mobile's guidance increase, and remains on track with its capital markets targets.
- Deutsche Telekom AG (DTEGF) demonstrated innovation leadership with the announcement of the first in-call AI assistant and an autonomous network agent.
- The company increased its stake in T-Mobile to almost 54%, up 2 percentage points from the previous year.
- Deutsche Telekom AG (DTEGF) continues to invest in market network leadership, with significant fiber expansion in Europe and the US.
- The German mobile service revenue slowed down sequentially to 2.1%, although it remained within the guidance corridor.
- Fixed service revenue in Germany also slowed down sequentially, with broadband revenue remaining subdued due to customer losses in 2025.
- The company faces elevated churn due to back book price increases, expected to peak in the second quarter.
- The reported financials were impacted by a weaker dollar, affecting the cash flow from operations.
- The German market sentiment is not favorable, with stagnant GDP growth forecasts and a high number of insolvencies impacting bad debt figures.
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Good afternoon, everyone, and welcome to Deutsche Telekom's first quarter 2026 conference call. Joining me today are our CEO, Tim Hottges; and our CFO, Christian Illek. As usual, Tim will begin by sharing the key highlights of the quarter, followed by Christian, who will take you through our quarterly performance in more detail and group financials as well. After this, we have time for Q&A.
Before handing over to Tim, please take note of the usual disclaimer included in our presentation. Also, please be aware that this conference will be recorded and uploaded to the Internet.
And now it's my pleasure to hand over to Tim.
Thank you, Hannes, and welcome, everybody, to today's call. As you have seen our numbers, we are off to a good start in 2026 on all areas on both sides of the Atlantic. In this world of uncertainty,
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