Deutsche Telekom , The German telecommunications company and by revenue the largest telecommunications provider in Europe Announced its year end results.
With a record breaking revenue netting up by 25.4% to €100 billion.
The telecom company said EBITDA AL jumped up by 41.6% to €35, and by by 7.9% in organic terms.
Deutsche Telekom admitted that because of acquiring the U.S. based company Sprint, the company had seen a significant growth.
But the telecom company also mentioned that the revenue still increased excluding the deal.
Tim Höttges, The Chief Executive Officer of Deutsche Telekom said:
“We made history in 2020. We added a substantial and important chapter to Deutsche Telekom’s story,”
“We closed a groundbreaking deal in the United States,”
“improved our market position in Europe and at the same time made an important contribution to managing the impact of the coronavirus pandemic with our stable networks.”
The company in Germany had increased its revenue from 0.6 per cent to €6.3 billion,
The pandemic did have an impact on mobile service revenue which had dropped by 1.6 per cent due to the decrease in roaming in the country.
In fourth quarter revenue the European division saw a 2.9 per cent reduction reaching €2.9 billion.
In Germany, Deutsche Telekom added 121,000 new broadband customers in Q4, and an addition of 388,000 for the entire year to a total of 14.1 million.
Its MagentaEINS fixed-mobile package also saw success and passed 5 million subscribers in the quarter.
Revenue for the country narrowly grew by 0.2% to €23.8 billion for the year.
Through out the year, Deutsche Telekom said it had spent a total amount of €17 billion, on network investment on both sides of Atlantic.
