Telekom forecasts another strong 2024 as customer base grows

Deutsche Telekom expects stronger earnings and cash flow in 2024, the German telecoms provider said on Friday, after posting full-year results in line with its targets for 2023 buoyed by customer growth in Germany and the United States.

“Thanks to our growing businesses on both sides of the Atlantic, we are confident we will up the ante yet again in 2024,” CEO Tim Hoettges said in a statement.

The company, which owns T-Mobile US, expects its adjusted earnings before interest, taxes, depreciation and amortization after leases (EBITDA AL) to increase this year by around 6% to around 42.9 billion euros, it said.

Free cash flow AL is expected to increase by around 16% to around 18.9 billion euros.

In 2023, adjusted EBITDA AL inched up by 0.7% and free cash flow by more than 40%, according to the full-year results.

In its domestic market, Deutsche Telekom said it recorded positive trends in all areas, while its T-Mobile US customer base recorded the largest growth in the industry.