Report
Alvaro del Pozo
EUR 100.00 For Business Accounts Only

DEUTSCHE TELEKOM: RDOS. 2T’22 DE T-MOBILE MEJORES EN EBITDA, CON BUENOS DATOS COMERCIALES Y GUIDANCE’22 REVISADO AL ALZA (ANÁLISIS BANCO SABADELL)

T-Mobile (filial en EE.UU. de DTE; c.60% EBITDA) acaba de publicar Rdos. 2T’22 por debajo en ventas a trimestre estanco (-1,2% vs +0,7% previsto) pero mejores en EBITDA ajustado (+1,4% vs -2,3% previsto). Nuevamente destaca la buena marcha de la fusión con Sprint, donde indican que las sinergias siguen avanzando por encima de lo esperado. Respecto a la actividad comercial, continúa el fuerte momentum con un incremento neto de clientes de +1,7 M en el trimestre (c. 1% del total), con lo que elevan el guidance del 2022 de captación neta de clientes a un rango de 6,0/6,3 M clientes (vs 5,3/5.8 M clientes antes; +11% en el punto medio del rango).
Underlyings
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.

T-Mobile US Inc.

T-Mobile US provides mobile communications services, including voice, messaging and data, under its brands, T-Mobile and Metro? by T-Mobile, in the United States, Puerto Rico and the United States Virgin Islands. The company provides mobile communications services using its 4G Long-Term Evolution network and its 5G technology network. The company also provides various wireless devices, including handsets, tablets and other mobile communication devices, and accessories for sale, as well as financing through Equipment Installment Plans and leasing through JUMP! On Demand?. The company provides reinsurance for handset insurance policies and extended warranty contracts offered to its mobile communications customers.

Provider
Sabadell
Sabadell

Analysts
Alvaro del Pozo

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