© Reuters. FILE PHOTO: Brochures with the logo of Deutsche Telekom AG are pictured at the shop in the headquarters of German telecommunications giant in Bonn, Germany, February 19, 2019. REUTERS/Wolfgang Rattay
(Reuters) – German telecoms group Deutsche Telekom (OTC:) reported first quarter core profit just above market estimates on Friday and raised its guidance for 2022.
Adjusted earnings before interest, tax, depreciation and amortisation after leases (EBITDA AL) rose 6.8% to 9.9 billion euros ($10.3 billion), compared to a consensus estimate of 9.55 billion euros in a poll of analysts published by the company.
The telecoms operator’s first quarter net revenue rose by 6.2% to 28 billion euros.
“This was a strong start to the new year,” finance chief Christian Illek said in a statement. “We are continuing to grow on an organic basis and are therefore in a position to raise our guidance for 2022.”
The group said it now expected adjusted EBITDA AL of more than 36.6 billion euros in the 2022 financial year, and planned free cash flow AL of more than 10 billion euros.
($1 = 0.9621 euros)