Deutsche Telekom : Softer FCF trends in Q1 2023
>The good news (Germany) - Q1 2023 earnings came in 0-2% above consensus expectations for revenue, EBITDA after leasing (EBITDaL) and FCFaL.Deutsche Telekom has raised its target for FY 2023 group EBITDAaL by € 100m (from ~€ 40.8bn to ~€ 40.9bn). This reflects the fact that T-Mobile US raised its FY 2023 guidance by 1-3% for customers, synergies, EBITDA and FCF. This guidance implies a marked acceleration in FCF trends over the coming quarters.Earnings trend...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.
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.
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