Report
Stephane Beyazian

Deutsche Telekom : New, lower consensus but still at the upper end of the sector

>New consensus revised down 4-5% (exchange rates & sale of towers) - Deutsche Telekom published its final consensus ahead of its earnings release, adjusted for the recent depreciation in the $/€ exchange rate and the sale of the GD Towers business. The consensus now factors in a $/€ exchange rate of 1.07 vs 1.01 previously, a 6% difference for the US contribution which represents ~65% of the group’s financial items and therefore has an average impact of 400bp at the g...
Underlying
Deutsche Telekom AG

Deutsche Telekom is engaged in the telecommunications services and information technology sectors. Co. operates as an integrated telecommunications provider. It is organized into four operating segments: Germany, Europe, and the United States; and Systems Solutions, as well as Group Headquarters and Shared Services. Co. provides fixed-network lines, broadband lines and mobile communications. Co. also provides customized Information and Communication Technology (ICT) solutions for corporate customers under the T-Systems brand. The Group Headquarters and Shared Services segment comprises cross-segment management functions, real estate services, and mobility solutions, among others.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Stephane Beyazian

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