Deutsche Telekom beats growth expectations as profits rise by EUR3.3 billion

3 Mar 2005

Deutsche Telekom more than tripled its group net income in 2004 to EUR4.6 billion, compared to EUR1.3 billion in 2003. The results surpassed economic forecasts that had predicted average net profits of EUR3.74 billion. In the fourth quarter alone Telekom’s net income reached EUR1.4 billion, against a net loss of EUR364 million in Q4 2003. Revenues for the year increased by 3.7% to EUR57.9 billion from EUR55.8 billion. The company attributes the rise in sales largely to the improving performance of its mobile and broadband arms, with its US wireless division, T-Mobile USA, making a strong contribution.

Germany, Deutsche Telekom (DT)