Deutsche Telekom
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Deutsche Telekom (DTE) investor relations material

Deutsche Telekom Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary5 Nov, 2026

Executive summary

  • Q3 organic revenue grew 5.5% and adjusted EBITDA AL 8.0%; adjusted net profit rose 12.7% to €3.0bn.

  • 9M revenue rose 4.1% to €90.9bn and adjusted EBITDA AL 6.4% to €35.6bn; FY26 EBITDA AL and free cash flow AL guidance increased.

Financial highlights

  • Q3 reported revenue increased 7.5% to €31.1bn, adjusted EBITDA AL 9.9% to €12.2bn, and adjusted net profit 12.7% to €3.0bn.

  • 9M organic revenue grew 4.5% and service revenue 4.0%; reported service revenue rose 3.9% to €76.5bn.

  • 9M adjusted net profit rose 10.2% to €8.4bn, while reported net profit fell 8.0% to €7.3bn, reflecting higher U.S. restructuring and integration expenses and prior-year gains.

  • 9M free cash flow AL increased 1.7% to €16.4bn; Q3 free cash flow AL rose 1.4% to €5.70bn.

  • 9M adjusted EPS increased 11.7% to €1.74; reported EPS was €1.51, down 6.7%.

Outlook and guidance

  • FY26 guidance rose to ~€47.6bn adjusted EBITDA AL and ~€20.1bn free cash flow AL; recurring adjusted EPS guidance remains €2.20.

  • Updated outlook implies ~6% adjusted EBITDA AL growth and ~4% free cash flow AL growth; U.S. adjusted EBITDA AL guidance increased to $36.4bn.

  • Ex-U.S. adjusted EBITDA AL and free cash flow AL outlook are ~€15.4bn and ~€3.7bn, respectively; Q4 capex phasing is expected to catch up.

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Frequently asked questions

German Telecommunications

Deutsche Telekom AG, headquartered in Bonn, Germany, is one of Europe's leading telecommunications companies. Established in 1995, it stemmed from the former state-owned monopoly, Deutsche Bundespost. Deutsche Telekom's operations span from fixed-line and mobile communications to internet services and IT solutions. Recognizable by its magenta-colored branding, the company has a significant presence not only in Germany but also in many parts of Europe and other global regions. Beyond its domestic market, T-Mobile, a subsidiary of Deutsche Telekom, has established a strong market presence in the U.S. telecommunications industry.

Roots in a State Monopoly

Deutsche Telekom's roots lie in the "Deutsche Bundespost," Germany's state-controlled postal and telecommunications monopoly. By the 1980s, a global trend toward deregulation and privatization prompted Germany to reevaluate this structure. In 1989, the Postreform II legislation divided the Bundespost into three entities: Deutsche Post (present-day DHL), Deutsche Telekom, and Deutsche Postbank. A pivotal moment occurred in 1995 when the company underwent an initial public offering, transforming the telecommunications company, previously owned by the state, into a publicly traded entity.

A Key Player

Deutsche Telekom AG stands as one of Europe's largest telecommunications providers, with a footprint that extends globally. The company operates across a spectrum of services: fixed-network, broadband, mobile communication, and IPTV for consumers, as well as ICT (Information and Communication Technology) solutions for business and corporate clients. Its mobile communication services are particularly noteworthy, serving millions under the well-known brand T-Mobile. T-Mobile is separately listed on the NYSE and does the majority of its business in North America while Deutsche Telekom is primarily focused on the European Market.

Not Just Phone Plans

In addition to its core telecom services, Deutsche Telekom is actively involved in cloud services, healthcare solutions, and media. The company also offers various broadband solutions catered to both private individuals and businesses. In order to grow and remain relevant, Deutsche Telekom invests in next-generation networks like 5G, ensuring both consumer and business clients receive top-tier connectivity.