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Deutsche Telekom AG
DT.NISIN: US2515661054SEDOL: 2281999 |
Rating: HOLD |
Target Price: 12.15 USD |
Investment Horizon: 6 to 12 months |
1Q 09 News Alert
In 1Q 09, Deutsche Telekom AG (DT) revenues were in line with our estimate. However, the company reported a significant loss at net level, due to impairment loss of €1.8 bn. In addition, the company reported a decline in adjusted profit margins, primarily due to consolidation of Hellenic Telecommunications Organization (OTE). Profit margins were below our estimate due to higher-thanexpected operating expenses and financial expenses, as a percentage of revenues....
Company News Alert
Deutsche Telekom AG (DT) released today its 1Q 09 revenues and adjusted EBITDA. While revenues were in-line with our estimates, adjusted EBITDA was lower-than-anticipated. In addition, the company revised its adjusted EBITDA and Free cash flow guidance downwards for FY 2009. As a result in light of lower-than-anticipated adjusted EBITDA and downwards revision of adjusted EBITDA and free cash flow guidance, we are downgrading our…
4Q 08 & FY 2008 Update Report
DT witnessed net-additions in the broadband segment for the first time in the past few quarters reflecting upgraded network quality, strategic marketing offers and reduced tariffs. In order to match pace with the Federal Government’s broadband strategy and to comply with the targets set for 2010 and 2014 DT is aggressively incurring capex in the broadband segment…
FY 2008 News Alert
Deutsche Telekom AG’s (DT) results were broadly in line with expectations in FY 2008, with a positive performance in 4Q 08. Net income, excluding special items1, was marginally above our estimate, reflecting both the strong operating performance and lower-than-anticipated minority interest. Furthermore, the company reported margin expansion in FY 2008 resulting from reduced cost of sales and selling expenses as a percentage of revenues. We expect this…
3Q 08 Update Report
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Deutsche Telekom AG’s (DT) 3Q 08 revenues were in-line with our estimate, while profit margins were above our estimates, mainly due to higher than anticipated other operating income. We expect profit margins to display an increasing trend going forward due to an anticipated decline in cost of sales and selling expenses due to various costs-cutting measures undertaken by DT, coupled with an anticipated decline in operating expenses…
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