Deutsche Telekom Ag · XETR:DTE
Deutsche Telekom — Q1 2026 Earnings Presentation
62 slides from Deutsche Telekom's earnings presentation, May 2026
Slide 1: Deutsche Telekom Investor Presentation
Deutsche Telekom Investor Presentation May 2026 Connecting your world
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements that reflect the current views of Deutsche Telekom management with respect to future events. These forward-looking statements include statements with regard to the expected development of revenue, earnings, profits from operations, dep
Slide 3: Deutsche Telekom Profile FY 2025
Deutsche Telekom Profile FY 2025 Customers Markets Numbers Employees & responsibility ∙ 273.2 mn mobile customers ∙ Present in > 50 countries ∙ Revenue € 119.1 bn ∙ Employees worldwide: 198,079 (Reporting date Dec. 31, 2025) ∙ 24.8 mn fixed-network lines ∙ Germany, Europe and the USA: ∙ Adjusted EBI
Slide 4: Our strategy: Leading Digital Telco
Our strategy: Leading Digital Telco 2024 CMD 6 Scale-up with global services, cloudified API- 1 Differentiate via leading network experience – based NT/IT platforms & common operations best Fiber, best 5G 5 Become a data-informed, AI-enabled, 2 Grow by monetizing high-quality networks & services tha
Slide 5: We are committed to lead and perform
We are committed to lead and perform 2024 CMD STRONGER FOUNDATION SUPERIOR EXECUTION ACCELERATION VALUE CREATION ▪ Grow US share & strong ▪ Out-invest competition ▪ Data informed, digital first Unlock additional Value: Portfolio with optionality ▪ Next-level quality approach company ▪ Adj. EPS: ~ €
Slide 6: Networks extending our leadership
Networks Q1 2026 extending our leadership Fiber 5G Coverage Fiber homes passed in mn % of POPs GER EU +3.6 1pp 24.5 +13pp 20.9 98 99 11.5 79 92 10.4 EU 10.5 13.0 GER Q1/25 Q1/26 Q1/25 Q1/26 Q1/25 Q1/26 ▪ GER: run rate at 2.5mn HHs passed. Accelerating HHs connected ▪ EU: Austria wins connect mobile
Slide 7: Brand value
Brand value FY 2025 Brand value +141% from 2020 In $ bn to 2026 $ 96.2bn $ 73.0bn $ 53.9bn $ 18.9bn $ 15.6bn $ 5.9bn Brand Value Global 500 2026 by Brand Finance plc, London Source: Brand Finance Global 500 $ 96.2 Billion 7
Slide 8: DT Group consistent customer growth over the last 5 years
DT Group FY 2025 consistent customer growth over the last 5 years TMUS mobile postpaid net adds TMUS broadband net adds mn mn 7.8 6.4 5.7 6.1 5.5 2.0 2.1 2.0 1.7 0.5 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 DT ex US mobile postpaid net adds DT ex US broadband net adds mn mn 2.0 1.9 1.7 1.8
Slide 9: Efficiency: multiple levers for further improvements
Efficiency: multiple levers for further improvements 2024 CMD IDC/Service revenues DT ex US1 Key levers and expected impact going forward Artificial intelligence & ~ -5 pp ~ €0.7 bn4 ~ €1.5 bn2 automation -3–5 pp Network Scaling ~ €0.1 bn Real Estate & Procurement ~ €0.4 bn 2020 2024e 2023 2027e Gro
Slide 10: Set-up for a data-informed, digital-first company
Set-up for a data-informed, digital-first company… 2024 CMD 2. PARTNER ECOSYSTEM ▪ Global Telco AI Alliance ▪ AI RAN R&D partnership (US) with Nvidia, Ericsson & Nokia 3. EXISTING ASSETS ▪ Smart combination of own & partner capabilities ▪ LLM OS foundation & Telco LLM ▪ Common data platform & servic
Slide 11: Accelerate global scale leveraging our unique footprint
Accelerate global scale leveraging our unique footprint 2024 CMD ONE GLOBAL COMMON COMBINED STRATEGY G2M PRODUCTS & PLATFORMS OPERATIONS ▪ Portfolio & M&A ▪ Global brand ▪ Moments ▪ Architecture incl. ▪ Common services/ ▪ Know-how exchange ▪ Common T Business ▪ RDK router customer systems: shoring i
Slide 12: Committed to ambitious environmental and social targets
Committed to ambitious environmental and social targets 2024 CMD CLIMATE CIRCULARITY SOCIAL ≥ -55% in 2030e vs. 2020 100% Similar digital inclusion beneficiaries ≥ -90% in 2040e vs. 2020 Ready for circularity > 80 mn acc.3 around technology & devices in 2030e + Crisis effort in Scope 1–3 emissions ▪
Slide 13: Customer focus translating into strong profitable growth
Customer focus translating into strong profitable growth 2024 CMD GROUP LEVEL KPI AMBITION 2023–2027E KPI DRIVERS Service revenues ~ 4% CAGR Business growth Adj. EBITDA AL 4−6% CAGR Operational leverage Adj. EPS > 11%1 CAGR Growth & capital allocation Cash Capex/Service revenues2 ~ 21% in 2027e Inve
Slide 14: Surplus funds to be used for higher TMUS stake & DT buybacks
“Surplus” funds to be used for higher TMUS stake & DT buybacks 2024 CMD Key determinants of cumulative “Surplus” by 2027e Uses for “Surplus” 4–6% Adj. EBITDA AL CAGR Higher TMUS stake2 Announced TMUS ≤ €2 bn > €15 bn capital allocation1 Additional DT share buybacks ≤ 2.75x leverage ▪ Both uses of su
Slide 15: Creating shareholder returns through growth & capital allocation
Creating shareholder returns through growth & capital allocation 2024 CMD Adj. EPS €/share TOTAL SHAREHOLDER RETURN Further upsides from: > €15 bn “surplus”1 ▪ Global scale reinvest Share price ▪ Beyond core ▪ M&A, Portfolio, TMUS €/share ~ 2.5 Further additional capacity upside from 26 possible Ear
Slide 16: Q1 2026 results Group
Q1 2026 results Group
Slide 17: Q1/26 reliable and resilient growth
Q1/26 Q1 2026 reliable and resilient growth Q1/2026 Highlights • Market leading financial growth continues: Q1 organic service revenues +4.6%, adj. EBITDA AL +7.5%, FCF AL +0.7%1, adj. EPS +7.9%1 • DT ex US organic service revenue growth +2.2%, adj. EBITDA +2.5% • Group guidance for 2026 raised to r
Slide 18: Financials Q1/26 organic strong organic growth
Financials Q1/26 organic Q1 2026 strong organic growth ‘Q1/26 Adj. EBITDA AL Q1/26 Adj. EBITDA AL by segment1 Q1/26 Key Financials Growth yoy, organic US GAAP Core adj. € mn % growth yoy, organic EBITDA growth of 11.9% TMUS 10.0% Group revenues 4.7% +€703 mn 2,699 Group service revenues 4.6% GER 2.5
Slide 19: Customer Growth stronger in mobile, weaker in fixed
Customer Growth Q1 2026 stronger in mobile, weaker in fixed Mobile net adds Fixed line net adds2 000 000 7,798 US (postpaid) Broadband 6,066 Slowdown driven by Germany. 368 Stabilization in Q4. 218 FY/24 FY/25 FY/24 FY/25 Ex US (contract)1 1,909 TV 1,754 Additionally in GER 437 ~200k OTT net adds ve
Slide 20: AI and Digital on track for €0.8 bn efficiency target
AI and Digital Q1 2026 on track for €0.8 bn DT ex US 2024 CMD efficiency target1 Digital AI G&A NETWORK IT SALES & SERVICE ▪ Number of active app users: Internal AI-knowledge Mobile: Launched “RAN Guardian”: IT DevOps: Customer interaction: >16.7 mn users bot “askT” received a world’s first AI agent
Slide 21: TMUS 2025 CMD update: financial outlook
TMUS FY 2025 2025 CMD update: financial outlook Postpaid accounts EBITDA FCF mn $ bn $ mn 1.2 40.0 - 41.0 19.5 - 20.5 0.9 - 1.0 37.0 - 37.5 18.0 - 18.7 33.9 18.0 2025 2026e 2025 2026e 2027e 2025 2026e 2027e ▪ TMUS moves to postpaid accounts as ▪ New disclosure of $ 2.7bn digitalization ▪ Guidance as
Slide 22: Germany 2025 achievements
Germany FY 2025 2025 achievements FIBER MONETIZATION DIGITAL & AI DRIVEN TRANSFORMATION DIFFERENTIATION & MARKET LEADERSHIP • >2.5 mn fiber homes passed, reaching 12.6 • Customer Chatbot fully LLM-based • ~5 mn Magenta Moments users mn homes with 55% solution rate (3.5X higher NPS, -20% churn) • Rec
Slide 23: Germany 2026 priorities
Germany FY 2025 2026 priorities FIBER MONETIZATION DIGITAL & AI DRIVEN DIFFERENTIATION & TRANSFORMATION MARKET LEADERSHIP • We won’t stop: fully funded fiber rollout • Accelerate use of AI in service contacts • Extend our brand leadership: best network with 2.5 mn homes passed • >4 mn contacts solve
Slide 24: Europe: Our success story continued in 2025
Europe FY 2025 Our success story continued in 2025 GROWTH TRANSFORMATION & SCALE ‘WIN THEIR HEARTS’ • Strong profitable growth1: • Digitalization in sales & service: • Best customer experience: B2C: +3.4%, B2B +5.6% 30% chat share TRI*M4: B2C 8x #1, B2B 9x #1 • Best network: • AI implementation in N
Slide 25: Europe 2026 priorities
Europe FY 2025 2026 priorities: Customer obsession & AI to accelerate delivery of CMD GROWTH TRANSFORMATION & SCALE ‘WIN THEIR HEARTS’ • Maintaining the pace in the best network: • Bring more transactions to digital: • Start building towards a Magenta App- +>1 mn Fiber HHp, ~36% utilization rate, >3
Slide 26: Systems Solutions becoming a differentiator for DT
Systems Solutions FY 2025 becoming a differentiator for DT through our strategic priorities GROWTH WITH AI FULLY SOVEREIGN FOCUS VERTICALS PRODUCTIVITY & T-CLOUD COST TAKE-OUT ACHIEVEMENTS ▪ >1,500 AI experts ▪ T Cloud with 7,000+ ▪ Focus industries remain key ▪ Globally +7% productivity (T-Systems)
Slide 27: Industrial AI Cloud – built a German AI factory
Systems Solutions FY 2025 Industrial AI Cloud – built a German AI factory in less than 6 months – open, secure, sovereign. Seeing strong demand IAIC in numbers Complete AI stack IAIC pipeline ▪ <6 months from ideation to launch Strong initial demand Industry Public Defense Consumer ▪ 10,000 state-of
Slide 28: Capital allocation has been disciplined; strategic flexibility intact
DT Group FY 2025 Capital allocation has been disciplined; strategic flexibility intact Dividend per share TMUS stake € 52.8% as of February 6, 2026 1.00 52.6% 0.90 50.7% 51.5% 0.77 2023 2024 20251 2023 2024 2025 DT share buyback € bn ▪ TMUS “additional flexibility” through year end 2027 Up to of mor
Slide 29: 2025 guidance achievement
DT Group FY 2025 2025 guidance achievement Adj. EBITDA AL FCF AL1 € bn TM US DT Ex US € bn TM US DT Ex US 43.0 ~44.9 ~45.3 44.2 45.5 19.2 ~19.9 ~20.1 19.5 20.2 28.6 ~29.9 ~30.3 29.3 30.5 ~16.3 ~16.5 16.2 16.9 15.9 14.5 15.0 15.0 15.0 15.0 3.5 3.6 3.6 3.6 3.6 FY 2024 pro Original 2025 Latest Actual F
Slide 30: Guidance 2026 strong earnings growth to continue
Guidance 2026 Q1 2026 strong earnings growth to continue Adj. EBITDA AL FCF AL € bn TM US DT Ex US € bn TM US DT Ex US 44.2 44.7 ~47.4 ~+6% 19.5 19.3 ~19.8 ~+3% 29.3 29.7 ~32.0 16.2 16.0 ~16.2 15.0 15.0 15.4 +2.5–3% +3% 3.61 3.61 3.71 FY 2025 result FY 2025 Guidance 2026 FY 2025 result FY 2025 New g
Slide 31: DT Group organic financial growth targets intact
DT Group Q1 2026 organic financial growth targets intact Service revenue growth (organic) Adj. Core EBITDA growth (organic) in % yoy in % yoy 7.8% 4.0% 6.8% 6.9% 6.5% ~6.0% 3.5% 3.7% 3.6% 3.7% 3.8% 4.8% 4–6% “growth” 2021 2022 2023 2024 2025 2026 CMD 2021 2022 2023 2024 2025 2026 CMD outlook CAGR ou
Slide 32: DT Group ex US financial growth targets confirmed
DT Group ex US Q1 2026 financial growth targets confirmed Service revenue growth (organic) Adj. EBITDA AL growth (organic) in % yoy in % yoy 4.8% 4.8% 2.9% 2.5–3% 3.3% 3.4% ~2.5–3% 3–4% 2.8% 2.0% 1.8% 2.1% 1.9% N.A. 2021 2022 2023 2024 2025 2026 CMD 2021 2022 2023 2024 2025 2026 CMD outlook CAGR out
Slide 33: Our 2024 CMD ambitions on track
Our 2024 CMD ambitions FY 2025 on track for key ambitions Status 2025 KPI Midterm ambition level1 Year (CAGRs 2023–2025, absolute values as per 2025) Revenues Group: CAGR ~4% 2023–2027e +3.7% Total service revenues Group: CAGR ~4% 2023–2027e +3.7% Total service revenues DT ex US: CAGR 2.5–3% 2023–20
Slide 34: ESG: Making progress
ESG: Making progress FY 2025 Time frame Ambition Scope Achievements 2025 From 2021 onwards 100% renewable electricity DT Group 100% 2024–2027 Keep energy consumption stable & increase energy efficiency GER & EU Actuals stable 2017–2025 Reduce Scope 1 & 2 Emissions to zero1 DT Group -94% (2025 vs. 20
Slide 35: Q1 2026 results Review of segments and financials
Q1 2026 results Review of segments and financials
Slide 36: T-Mobile US industry leading financial growth
T-Mobile US Q1 2026 industry leading financial growth Revenues (IFRS) Supported by Adj. EBITDA AL (IFRS)1 Supported by US$ bn USCellular acquisition US$ bn USCellular acquisition +10.9% and fiber JVs +12.9% and fiber JVs 23.1 9.1 20.8 8.0 4.2 Other revenues 3.9 Service revenues 16.9 18.9 Q1/25 Q1/26
Slide 37: T-Mobile US industry leading postpaid account growth
T-Mobile US Q1 2026 industry leading postpaid account growth Postpaid net account additions5G EXTENDED RANGE FY guidance raised by 50k Postpaid ARPA 000 US$ 396 +3.9% 318 261 146 150 149 150 152 205 217 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Total postpaid accounts Increase impa
Slide 38: Germany revenue and adj. EBITDA AL on track
Germany Q1 2026 revenue and adj. EBITDA AL on track Revenues (reported) Growth in equal parts driven Adj. EBITDA AL (reported) € mn by service and non-service € mn +1.9% revenues +2,5% 6,219 6,340 2,634 2,699 Q1/25 Q1/26 Q1/25 Q1/26 Revenue growth (organic) Adj. EBITDA AL growth (organic) % yoy 2.8%
Slide 39: Germany strong growth in mobile service revenues
Germany Q1 2026 strong growth in mobile service revenues Mobile service revenue growth (organic) % yoy 3.1% 2.5% 2.0% 2.1% 1.8% Total service revenue growth (organic)1 % yoy Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 1.4% 1.5% 1.1% 1.1% Fixed service revenue growth (organic)1 0.4% % yoy Q1/25 Q2/25 Q3/25 Q4/25 Q
Slide 40: Germany fixed revenues: access revenue trends reflect volumes
Germany Q1 2026 fixed revenues: access revenue trends reflect volumes Broadband revenue growth (organic) Broadband (B2C) ARPA % yoy +3.1% yoy 3.2% 2.7% 2.1% 1.6% 1.6% Fixed service revenues (reported)1 Broadband € mn Wholesale Access +0.5% Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Other 3,834 3,852 1,904 1,933
Slide 41: Germany fixed KPIs: BB net adds stabilized
Germany Q1 2026 fixed KPIs: BB net adds stabilized, FTTH upselling continues FTTH net adds and penetration Retail customers with ≥100 Mbit/s tariff 000 and % of base 17.1% % of customer base 16.1% 16.4% 57% 15.5% 15.8% 55% 155 164 148 54% 128 137 53% 52% Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q1/25 Q2/25 Q3/
Slide 42: Germany: German mobile positive momentum continues
Germany Q1 2026 German mobile: positive momentum continues Branded contract net adds1 000 314 274 282 185 200 Mobile service revenues (reported) € mn Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 +2.1% 1,695 1,730 Churn2 Data usage2 % GB per month +37% yoy Q1/25 Q1/26 21.3 0.9% 15.6 0.8% Q1/25 Q1/26 Q1/25 Q1/26 1 O
Slide 43: Europe 33rd consecutive quarter of organic EBITDA growth
Europe Q1 2026 33rd consecutive quarter of organic EBITDA growth Revenues (reported) Impacted by f/x and Adj. EBITDA AL (reported) € mn +1.2% deconsolidation of Romania € mn 3,089 +4.8% 3,053 1,141 1,196 Q1/25 Q1/26 Q1/25 Q1/26 Revenue growth (organic) Adj. EBITDA AL growth (organic) % growth yoy %
Slide 44: Europe strong commercial performance continues
Europe Q1 2026 strong commercial performance continues Mobile contract net adds Broadband net adds 000 000 236 209 68 77 129 127 65 57 123 54 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 FMC net adds TV net adds Impacted by -28k SAT TV 000 000 phase out in Hungary 197 156 50 151 143 3
Slide 45: Systems Solutions solid growth in order entry, revenue, profitability
Systems Solutions Q1 2026 Solid growth in order entry, revenue, and profitability Order entry (LTM) Revenues (reported) Adj. EBITDA AL (reported) € bn € mn € mn +1.5% +1.6% 4.2 4.2 1,009 1,026 +4.0% 81 84 Q1/25 Q1/26 Q1/25 Q1/26 Q1/25 Q1/26 ▪ Solid growth in order entry and revenue due Revenue growt
Slide 46: Financials Q1/26 reported strong set of results
Financials Q1/26 reported Q1 2026 strong set of results across the board € mn Q1 2025 2026 Change Impacted by F/X. Organic growth rate of 4.7% Revenue 29,755 29,870 +0.4% Impacted by F/X. Organic growth rate of 4.6% Service revenues 24,829 25,039 +0.8% Impacted by F/X. Organic growth rate of 7.5% Ad
Slide 47: FCF AL and adj. net profit numbers impacted by f/x
FCF AL and adj. net profit Q1 2026 numbers impacted by f/x Free Cash Flow AL1 Adj. net profit Adjusted EPS of 0.54 €. +7.9% growth € mn € mn +0.7% +6.5% 5,650 5,687 68 2,601 -297 536 2,442 77 -94 -36 50 -270 162 Capex decrease mainly driven by ex US. Expect normalization in the next quarters. Impact
Slide 48: Net debt leverage clearly in comfort range
Net debt Q1 2026 leverage clearly in comfort range Net debt excl. leases (AL) Leverage ratios € bn X +1.4 Incl. leases Excl. leases 99.5 98.1 1.9 2.78 0.5 2.62 2.64 -5.7 4.1 2.31 2.22 2.24 0.1 0.5 FY/25 FCF AL Spectrum Dividends SBB TM US DT SBB F/X and Q1/26 2024 2025 Q1/26 others 48
Slide 49: Q1/26 Key messages reliable and resilient growth
Q1/26 Key messages Q1 2026 reliable and resilient growth Adj. EPS ▪ Reliable and resilient financial growth in €/share ▪ On track for FY26 and CMD 2023–27 guidance ▪ Extending network leadership on both sides of the Atlantic ▪ Guidance upgrade in the US ▪ New M&A transactions in the US to strengthen
Slide 50: Q1 2026 results Appendix
Q1 2026 results Appendix
Slide 51: Deutsche Telekom: consistent reliable growth
Deutsche Telekom: consistent reliable growth Total Shareholder Return Development 01 January 2010 – 06 March 2026 700 570.2% DT 600 500 400 296.0% DAX 202.9% BT 197.5% Stoxx 50 300 187.1% ORA 154.4% STOXX Telcos 200 101.9% VOD 48.9% KPN 100 (30.9%) TI (54.0%) TEF 0 01 Jan 10 11 Sep 12 24 May 15 02 F
Slide 52: Organic growth rates
Organic growth rates Q1 2026 In % Q1/26 over Q1/25 FY/25 over FY/24 Group revenues +4.7 +4.2 Group service revenue +4.6 +3.8 Service revenue DT ex US +2.2 +2.1 Group Adj. EBITDA AL +7.5 +4.7 Adj. EBITDA AL DT ex US +2.5 +3.4 Group Core adj. EBITDA AL +7.5 +4.9 52
Slide 53: FCF AL excl. US well on track for FY guidance
FCF AL excl. US1 Q1 2026 well on track for FY guidance € bn Q1 2025 Q1 2026 Adj. EBITDA 4.0 4.2 Leasing opex -0.3 -0.4 Adj. EBITDA AL 3.7 3.8 Capex decrease driven by phasing. Cash Capex -2.0 -1.5 Proceeds from sale of fixed assets +0.0 +0.0 Special Factors Cash -0.3 -0.3 Interest ex leasing -0.3 -0
Slide 54: Guidance 2026 new guidance compared to consensus
Guidance 2026 Q1 2026 new guidance compared to consensus € bn Guidance 2026 in € Guidance 2026 in € Consensus in € @ 1.13 @ 1.17 (Cons. f/x) @ 1.17 Adj. EBITDA AL Group ~47.5 ~46.4 46.6 thereof ex US 15.4 15.4 15.5 thereof TMUS ~32.1 ~31.0 31.1 FCF AL >19.8 >19.3 19.5 thereof ex US 3.7 3.7 3.7 there
Slide 55: Balance sheet solid across the board
Balance sheet Q1 2026 solid across the board € bn 31/03/2025 30/06/2025 30/09/2025 31/12/2025 31/03/2026 Balance sheet total 305.0 281.5 287.2 289.8 293.5 Shareholders’ equity 97.8 89.7 91.6 92.2 92.0 Net debt excl. leases (AL) 95.7 93.0 98.2 98.1 99.5 Net debt excl. leases (AL)/adj. EBITDA AL1 2.18
Slide 56: TMUS EBITDA reconciliation
TMUS Q1 2026 EBITDA reconciliation FY/25 Q1/26 US$ mn US$ mn +6.8% yoy +6.5% yoy +6.8% yoy +11.9% yoy +11.9% yoy +12.9% yoy 33,924 33,937 13 9,240 9,241 9,058 -939 32,998 1 -183 Adj. Core Leasing Adj. EBITDA Bridge Adj. EBITDA Adj. Core Leasing Adj. EBITDA Bridge Adj. EBITDA EBITDA Revenues (US GAAP
Slide 57: DT Group consistent customer growth over the last 5 years
DT Group consistent customer growth over the last 5 years TMUS mobile postpaid net adds TMUS broadband net adds mn mn 7.8 6.4 5.7 6.1 5.5 2.0 2.1 2.0 1.7 0.5 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 DT ex US mobile postpaid net adds DT ex US broadband net adds mn mn 2.0 1.9 1.7 1.8 0.7 1.4
Slide 58: Financials maturity profile covered by strong liquidity reserve
Financials Q1 2026 maturity profile covered by strong liquidity reserve Ex US debt maturing Ex US liquidity position Credit lines € bn € bn Liquid assets 17.6 3.5 3.5 12.0 2.9 Ø 2.93 1.8 3.5 0.8 6.1 5.6 1.8 Q2 - Q4 2026 2027 2028 2029 Liquidity Maturities Q2 Maturities Maturities Totel reserve - Q4
Slide 59: Outlook 2026/27 as per annual report 2025 (1/2)
Outlook 2026/27 as per annual report 2025 (1/2)1 FY 2025 € bn 2025 pro forma 2026e 2027e Revenue Group 120.9 Increase Increase Germany 25.6 Slight increase Slight increase US (in US$) 90.3 Increase Increase Europe 12.5 Slight increase Slight increase Systems Solutions 4.1 Increase Increase Service R
Slide 60: Outlook 2026/27 as per annual report 2025 (2/2)
Outlook 2026/27 as per annual report 2025 (2/2)1 FY 2025 € bn 2025 pro forma 2026e 2027e Cash capex Group 17.4 17.0 Decrease Germany 4.9 Slight increase Slight increase US (in US$) 10.7 Decrease Decrease Europe 2.0 Stable Stable Systems Solutions 0.2 Stable Stable FCF AL Group 19.3 19.8 Strong incre
Slide 61: Investor + Analyst Webcast with Q&A session
Investor + Analyst Webcast with Q&A session The conference call will be held on May13 at 14:00 CET, 13:00 GMT, 08:00 EST, 05:00 PST, 21:00 JST DT Participants: Tim Höttges (CEO), Christian Illek (CFO), Hannes Wittig (Head of IR) Detailed time stamps in video description for slides + Q&A: • Live webc
Slide 62: Further questions please contact the IR department
Further questions please contact the IR department +49 228 181 – 8 88 80 Individual contact details for Homepage: investor.relations@telekom.de all IR representatives: www.telekom.com/investors www.telekom.com/ircontacts Investor relations on social media – Follow us to stay up to date! linkedin.com