Deutsche Telekom reported strong financial results for the full year 2023, with organic service revenue growth of 3.6% and EBITDA growth of 6.9%. Free cash flow also increased by 41% to over €16 billion.
The company's customer base continued to grow, with nearly 8 million postpaid customers added in 2023. Customer satisfaction scores improved, and the complaint rate decreased significantly.
Deutsche Telekom's network leadership was highlighted, with significant investments in fiber infrastructure and 5G coverage expansion. The company passed an additional 3.5 million European homes with FTTH and reached 17 million Fiber homes.
The guidance for 2024 indicates that strong growth will continue, with expected EBITDA of €42.9 billion and free cash flow of €18.9 billion. The company plans to increase its dividend by 10% and has launched a €2 billion share buyback program.
The EU's decision on mobile consolidation in Spain was seen as heavy-handed, but the white paper on consolidation showed promise for future regulatory changes. Deutsche Telekom expressed support for cross-border consolidation and emphasized the need for spectrum harmonization.
In Germany, the company expects to maintain steady 3% annual EBITDA growth, driven by market share gains in mobile and broadband. The momentum in German TV is expected to continue, supported by exclusive rights and new features on the Magenta TV platform. Copper switch-off is being considered, but it is a longer-term perspective due to various challenges.