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Deutsche Telekom Q3 results improve on growth in the US
2013-11-07 09:07:00| Telecompaper Headlines
(Telecompaper) Deutsche Telekom reported improved results for the third quarter, helped by the turnaround at its US operations. Revenues were up 6.0 percent year-on-year to EUR 15.5 billion, as 30.5 percent growth in the US offset a 6.0 percent slide in Europe and 1.2 percent lower revenues in Germany. On a pro forma basis for the takeover of MetroPCS in the US, group revenues were still up 2.4 percent. Adjusted EBITDA declined 2.6 percent to EUR 4.7 billion on extra costs for customer growth, but the drop slowed considerably from the 5.2 percent reported in the first half of the year. The net result improved to a profit of USD 588 million from a loss of USD 7.02 billion a year earlier. Cash capex in the first nine months of the year increased by 26.8 percent to EUR 7.6 billion, due to spending on spectrum licences and the LTE roll-out in the US. As a result, free cash flow fell 30.4 percent to EUR 3.57 billlion. Deutsche Telekom still maintained its guidance for the full year 2013, for adjusted EBITDA of around EUR 17.5 billion and free cash flow of EUR 4.5 billion.
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Category:Telecommunications
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