Deutsche Telekom 3Q Net Profit Up 7.2%, Keeps 2009 View
05 Novembre 2009 - 7:44AM
Dow Jones News
Deutsche Telekom AG (DT) Thursday said third-quarter net profit
was up 7.2% on tight cost control and kept its outlook for
2009.
Net profit for the quarter ended Sept. 30 was EUR959 million, up
from EUR895 million a year earlier, as Deutsche Telekom's operating
profit improved.
Revenue for the period was up 5.2% to EUR16.26 billion.
Closely watched earnings before interest, taxes, depreciation
and amortization, or Ebitda, adjusted for one-time items and
restructuring, the company's preferred measure of operating
performance, rose 5.2% to EUR5.53 billion.
Deutsche Telekom's sales and operating profit also benefited
from the consolidation of Greek peer OTE, which contributed EUR1.5
billion to Deutsche Telekom's third-quarter sales and EUR600
million to its adjusted Ebitda.
Deutsche Telekom results met expectations for sales of EUR16.27
billion and beat the adjusted Ebitda view of EUR5.33 billion,
according to a Dow Jones Newswires poll of 13 analysts.
Deutsche Telekom shares closed at EUR9.29 Wednesday. In the past
12 months the share lost 20.5%, underperforming the DJ Euro Stoxx
Telecom which gained 12.6% in the same period, after Deutsche
Telekom's profit warning ahead of its first-quarter results weighed
on the share, and analysts said it's undervalued right now.
-By Archibald Preuschat, Dow Jones Newswires; +49 211 13872 18;
archibald.preuschat@dowjones.com
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