Report
Stephane Beyazian

Deutsche Telekom : TMUS confirms FCF growth of $ 6bn in 2023

>The positive surprises - TMUS announced that it is targeting an increase in FCF of close to $ 6bn in 2023 (+75%), which is reassuring ahead of the publication of the outlook for DTE for 2023 (consensus FCF estimate for 2023 € 16.5bn, +52% y-o-y, adjusted for the disposal of the towers).  This increase for TMUS is based on expected growth of ~5% in revenues (increase in the customer base), of 9-11% in underlying EBITDA aided by the end of the Sprint-TMUS merger synerg...
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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