By Mauro Orru

 

Deutsche Telekom AG on Thursday posted higher revenue for the fourth quarter and set out its forecasts for the new year.

The German telecommunications company said revenue climbed to 28.93 billion euros ($32.71 billion) from EUR27.62 billion in the fourth quarter of 2020.

Adjusted earnings before interest, taxes, depreciation and amortization after leases--a closely-watched metric that measures operating earnings performance accounting for the adoption of IFRS 16 financial reporting standards--increased to EUR9.01 billion from EUR8.95 billion.

Net profit slipped to EUR471 million from EUR1.67 billion.

Analysts had forecast revenue of EUR28.76 billion, adjusted Ebitda after leases of EUR8.83 billion, and a net profit of EUR800 million, according to company-provided consensus.

Deutsche Telekom confirmed plans it set out last year to pay a 2021 dividend of EUR0.64 a share up from EUR0.60 in 2020.

For 2022, Deutsche Telekom targets adjusted Ebitda after leases of around EUR36.5 billion, and free cash flow after leases of roughly EUR10 billion. It also expects adjusted earnings per share to reach more than EUR1.25, and confirmed its target of at least EUR1.75 for 2024.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

February 24, 2022 01:20 ET (06:20 GMT)

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