Report
Konrad Zomer ...
  • Stephane Beyazian

Deutsche Telekom : Update on dollar impact and success of the 5G box in the US

>5% upward revision to consensus forecasts still possible - T-Mobile US currently accounts for 60% of group FCF and more than 95% of future FCF growth. The consensus reported by Deutsche Telekom anticipates 25% CAGR growth in group FCF over the 2022-2025 period (we are below due to our view of a more competitive US market from late 2023/2024), including an exchange rate of 1.06. Applying an exchange rate of 1.00, this implies a potential upward revision of the 2022-2...
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
Konrad Zomer

Stephane Beyazian

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