By Kim Richters

 

Deutsche Telekom AG on Friday raised forecasts for the year and said that first-quarter net profit increased after its sale of T-Mobile Netherlands.

The German telecom company said quarterly net profit rose to 3.95 billion euros ($4.10 billion) compared with EUR936 million a year prior. The increase was mainly due to the sale of a 50% stake in the company GlasfaserPlus and the completion of the T-Mobile Netherlands divestment, the company said.

Quarterly adjusted earnings before interest, taxes, depreciation and amortization after leases rose to EUR9.87 billion from EUR9.25 billion, and revenue increased to EUR28.02 billion from EUR26.39 billion in period.

Analysts had forecast revenue of EUR27.87 billion and adjusted Ebitda after leases of EUR9.55 billion, according to a company-provided consensus.

Deutsche Telekom raised targets for 2022, now expecting adjusted Ebitda after leases of more than EUR36.6 billion, and free cash flow after leases of more than EUR10 billion. It previously guided for adjusted Ebitda after leases of around EUR36.5 billion and free cash flow after leases of roughly EUR10 billion.

 

Write to Kim Richters at kim.richters@wsj.com

 

(END) Dow Jones Newswires

May 13, 2022 01:34 ET (05:34 GMT)

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