German telecom major Deutsche Telekom AG reported Thursday significantly higher profit in its fourth quarter, driven by higher revenues. Looking ahead for 2023, the company projects higher adjusted EBITDA AL, a key earnings metric. Further, for fiscal 2024, a strong growth in adjusted EBITDA AL and slight growth in revenues are expected.
For 2023, the company expects earnings per share to be more than 1.60 euros per share and adjusted EBITDA AL above 40.8 billion euros. Core EBITDA AL Adjusted is expected to be around 40.5 billion euros.
In fiscal 2022, adjusted earnings per share were 1.83 euros, and adjusted EBITDA AL was 40.21 billion euros.
Further, the company projects slight increase in fiscal 2023 revenue from last year's 113.7 billion euros.
In its fourth quarter, Deutsche Telekom's net profit climbed 115.3 percent to 1.01 billion euros from 471 million euros in the prior year.
Adjusted net profit was 2 billion euros from last year's 1.23 billion euros. Adjusted earnings per share improved to 0.40 euros from 0.25 euros in the previous year.
Adjusted EBITDA AL was 9.96 billion euros, up 10.6 percent from 9.01 billion euros in the previous year. Adj. EBITDA AL, excluding US, edged up 0.7 percent to 3.55 billion euros.
Revenue for the fourth quarter grew 4 percent to 29.80 billion euros from 28.65 billion euros in the prior year.
In Germany, Deutsche Telekom shares were trading at 21.23 euros, up 0.57 percent.
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