DT sees profit rocket in Q3

11 Nov 2004

Deutsche Telekom (DT) has raised its full year 2004 net income forecast to EUR3.2 billion, from the EUR2.5 billion it previously predicted, after reporting strong financial results for the third quarter. Net income rose sharply to EUR1.39 billion (USD1.8 billion) at the end of September, up from EUR508 million at the same time in 2003, while sales grew to EUR14.5 billion from EUR14.1 billion. The telco attributed the growth to strong sales at its wireless and internet units. T-Mobile saw sales grow by 9.4% to EUR6.48 billion, while its total customer base grew by 1.6 million to 67.2 million in the quarter. Sales at T-Online grew by 7% to EUR485.2 million.

In a separate, but related story DT has been rumoured to be looking to sell its 25% stake in Russian cellco Mobile Telesystems (MTS) as part of a plan to focus on Western Europe and the US. The telco has declined to comment on the speculation.

Germany, Deutsche Telekom (DT)