Q2 2024 Deutsche Telekom AG Earnings Call Transcript
Key Points
- Deutsche Telekom AG (DTEGF) reported strong operational momentum with 4% organic service revenue growth and 6% organic EBITDA AL growth in the first half of 2024.
- T-Mobile raised its 2024 free cash flow guidance, reflecting positively on the group's overall financial outlook.
- The company paid out EUR 0.70 per dividend and bought back 43 million DT shares, contributing to a near 23-year high in share trading.
- Deutsche Telekom AG (DTEGF) achieved significant network expansion, passing 3.6 million additional European homes with fiber-to-the-home in the last 12 months.
- The company reported strong customer growth in both the US and Europe, with T-Mobile adding nearly as many postpaid customers as last year and raising their subscriber guidance for the year.
- Broadband net additions were slower than last year, indicating potential challenges in maintaining growth in this segment.
- The German EBITDA AL growth was only 1% due to a one-off payment from a wage agreement, which could impact profitability.
- The company faces potential headwinds from a 6% increase in salaries due to union agreements, which could affect cost structures in the fourth quarter.
- There are ongoing challenges with regulatory and subsidy processes in Germany, which could impact the speed and efficiency of network rollouts.
- The US fiber strategy involves significant long-term investments and partnerships, which may carry risks and uncertainties in execution and returns.
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Good afternoon, and welcome to Deutsche Telekom's second quarter 2024 and first half 2024 conference call.
With me today are our CEO, Tim Hottges; and our CFO, Christian Illek. As usual, Tim will first go through his year-to-date highlights before Christian will go deeper into the quarterly performance and the group financials.
After this, we have time for Q&A. And before I hand over to Tim, please pay attention to our usual disclaimer, which you'll find in the presentation. And please also note that the 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 to our second quarter and first half 2024 results call. We had another good quarter that puts us well on track for our stated targets. And I have to say it makes a lot of fun to present a flawless quarter like this. Great,
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